Financial Performance - CARGO Therapeutics completed an IPO raising approximately $291.0 million in net proceeds[2] - As of December 31, 2023, CARGO had $405.7 million in cash and cash equivalents, expected to fund operations through 2025[11] - Research and development expenses for Q4 2023 were $27.1 million, totaling $75.8 million for the full year[11] - General and administrative expenses for Q4 2023 were $7.9 million, totaling $20.9 million for the full year[12] - The net loss for Q4 2023 was $32.1 million, or $1.49 per share, with a total net loss of $98.1 million for the year, or $16.53 per share[13] - CARGO's total assets increased to $453.0 million as of December 31, 2023, compared to $10.2 million in 2022[17] Clinical Development - The Phase 2 clinical study FIRCE-1 for firi-cel is currently enrolling at 20 sites, with interim results expected in 1H 2025[1][8] - In a Phase 1 study, firi-cel demonstrated a 52% complete response rate in patients with R/R large B-cell lymphoma[9] - The company plans to evaluate firi-cel in earlier stages of disease, including LBCL and other hematologic malignancies[4] Market Position - CARGO was added to the Russell 2000® Index on March 15, 2024[2]
Cargo Therapeutics(CRGX) - 2023 Q4 - Annual Results