{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-056674","form_type":"8-K","ticker":null,"cik":"0001966494","company_name":"CARGO Therapeutics, Inc.","filed_at":"2025-03-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.674473+00:00","generated_at":"2026-05-24T14:40:38.709544+00:00","sec_items":["2.05","5.02","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"CARGO suspends all pipeline development, cuts 90% of workforce, appoints interim CEO to pursue reverse merger","bullets":["Board approves suspending CRG-023 and allogeneic platform; workforce reduced ~90%.","Cash, cash equivalents and marketable securities total $368.1M as of Dec 31, 2024.","Expected exit costs of $24M–$29M, majority recognized in H1 2025.","CEO Gina Chapman departs May 19, 2025; CFO/COO Anup Radhakrishnan appointed interim CEO.","Engaged TD Cowen as exclusive financial advisor to explore reverse merger or other strategic alternatives."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-056674","json":"https://secwatch.observer/filing/0001193125-25-056674.json","markdown":"https://secwatch.observer/filing/0001193125-25-056674.md","text":"https://secwatch.observer/filing/0001193125-25-056674.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525056674/0001193125-25-056674-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525056674/d835509d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T14:40:38.709544+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3e0433e322","claim":"Gina Chapman departed as President and Chief Executive Officer at CARGO Therapeutics, Inc..","evidence_excerpt":"Gina Chapman, the Company’s President, CEO and member of the board of directors will be leaving the Company effective May 19, 2025.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525056674/0001193125-25-056674-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"leaving"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"9947148eb7","claim":"Ginna Laport departed as Chief Medical Officer at CARGO Therapeutics, Inc..","evidence_excerpt":"Dr. Ginna Laport, the Company’s Chief Medical Officer (\"CMO\"), will be leaving the Company effective May 19, 2025.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525056674/0001193125-25-056674-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"leaving"},{"label":"Role","value":"Chief Medical Officer"}],"fact_type":"executive_change"},{"claim_id":"c1d9a109df","claim":"Anup Radhakrishnan was appointed as Interim Chief Executive Officer at CARGO Therapeutics, Inc..","evidence_excerpt":"the Board appointed Anup Radhakrishnan, the Company’s Chief Financial Officer and Chief Operating Officer, to succeed Ms. Chapman as interim CEO.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525056674/0001193125-25-056674-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Interim Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"25a3eb0bdfee023b806d087474b19fe8a0a6d27d","claim":"CARGO Therapeutics, Inc. announced a restructuring with charges of $24.0 million to $29.0 million (approximately 90%).","evidence_excerpt":"combination, and engaged TD Securities (USA) LLC as the Company’s exclusive financial advisor. In connection with these actions, the Company expects to incur expenses of between $24.0 million to $29.0 million in total, a substantial portion of which we expect to recognize during the first half of 2025. The anticipated expenses include: severance, benefits, payroll","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1966494/000119312525056674/0001193125-25-056674-index.htm","confidence":1.0,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"$24.0 million to $29.0 million"},{"label":"Headcount","value":"approximately 90%"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}