Clinical TrialsCRGX announced the discontinuation of the Phase 2 FIRCE-1 study of Firi-cel due to disappointing efficacy and safety results, which rendered the product less competitive to pursue further.
Financial OutlookThe stock is expected to trade flat until there is clarity on the cadence of clinical catalysts or the company engages in business development opportunities.
Safety ConcernsSafety data showed 18% of patients developed immune effector cell-associated hemophagocytic lymphohistiocytosis-like syndrome that were Grade 3 or higher, including both Grade 4 and 5.
Workforce ReductionCargo Therapeutics is implementing a workforce reduction of approximately 50% to preserve cash.