Core Viewpoint - CARGO Therapeutics has entered into a definitive merger agreement with Concentra Biosciences, where Concentra will acquire CARGO for $4.379 per share in cash, along with contingent value rights [1][2] Group 1: Merger Agreement Details - The acquisition price includes $4.379 in cash per share of CARGO common stock and one non-transferable contingent value right (CVR) [1] - The CVR entitles holders to receive 100% of CARGO's net cash exceeding $217.5 million and 80% of net proceeds from certain product candidates sold within two years post-closing [1] - The CARGO board unanimously approved the merger, deeming it in the best interests of all stockholders [2] Group 2: Tender Offer Process - Concentra will initiate a tender offer by July 21, 2025, to acquire all outstanding shares of CARGO common stock [3] - The closing of the offer is contingent upon the tender of a majority of outstanding shares and the availability of at least $217.5 million in cash at closing [3] - Approximately 17.4% of CARGO common stockholders have signed agreements to support the merger and tender their shares [3] Group 3: Advisors - TD Cowen is serving as the exclusive financial advisor to CARGO, while Latham & Watkins LLP is providing legal counsel to CARGO [4] - Gibson, Dunn & Crutcher LLP is acting as legal counsel to Concentra [4] Group 4: Company Background - CARGO Therapeutics is a biotechnology company focused on developing CAR T-cell therapies for cancer patients [5]

Core Viewpoint - A new Florida law effective July 1, 2025, allows physicians to provide investigational stem cell therapies for orthopedics, wound care, and pain management, with strict safety and ethical standards in place [1][2]. Group 1: New Legislation - The law permits the use of stem cell therapies not yet approved by the FDA, with strict limits on the sources of stem cells, which must come from FDA-registered facilities [2][4]. - Physicians are required to obtain informed consent from patients before administering these therapies [2]. Group 2: Company Positioning - Celularity Inc. is prepared to supply ethically sourced stem cells for these treatments and has a facility that complies with the new law's requirements [2][4]. - The company has extensive knowledge and real-world data from clinical trials related to the therapies authorized under the new law [3][4]. Group 3: Industry Impact - The Florida Medical Association was involved in crafting the legislation to balance public protection against ineffective therapies and avoid overregulation of physicians [4]. - The law is seen as a potential model for other states, emphasizing the role of physicians in assessing the best therapeutic approaches for patients [4]. Group 4: Company Overview - Celularity Inc. specializes in regenerative and cellular medicine, focusing on placental-derived cell therapies and advanced biomaterial products [5]. - The company aims to address significant unmet global needs for effective and affordable therapies by utilizing the unique biology of the placenta [5].

Core Viewpoint - Plus Therapeutics (PSTV) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on the correlation between changes in earnings estimates and stock price movements, making it a valuable tool for investors [2][3]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to price movements based on their buying or selling activities [3]. Company Performance Indicators - The upgrade for Plus reflects an improvement in the company's underlying business, which is expected to positively influence its stock price [4]. - Over the past three months, the Zacks Consensus Estimate for Plus has increased by 78.7%, indicating a significant upward revision in earnings expectations [7]. Zacks Rank System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [6]. - Plus's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [9].

Core Points - Celularity Inc. has terminated its Chief Financial Officer, David Beers, effective immediately, without cause, and this decision is not related to the company's financial performance or reporting practices [1] - Joseph DosSantos, the current Senior Vice President of Finance, has been appointed as the interim CFO while the company searches for a new CFO [2] - The company has retained CFO Squad, a financial and business advisory firm, to provide outsourced accounting and consulting services during this transition period, focusing on SEC and financial reporting support [3] Company Overview - Celularity Inc. is a regenerative and cellular medicine company that develops and commercializes advanced biomaterial products and allogeneic, cryopreserved, placental-derived cell therapies, utilizing the postpartum placenta [4]

PitchBook Data, Inc. Nizar Tarhuni Executive Vice President of Research and Market Intelligence Paul Condra Global Head of Private Markets Research James Ulan Director of Emerging Technology Research Institutional Research Group Analysis Kazi Helal, Ph.D. Senior Research Analyst, Biotech and Pharma Data Sara Good Data Analyst pbinstitutionalresearch@pitchbook.com Publishing Designed by Jenna O'Malley Published on May 29, 2025 Contents | Key takeaways | 1 | | --- | --- | | Introduction: Biotech VC fund ecosy ...

Core Insights - Lyell Immunopharma, Inc. is a clinical-stage company focused on developing next-generation CAR T-cell therapies for cancer patients [1][3] - The company will present at the Goldman Sachs 46th Annual Global Healthcare Conference on June 11, 2025, at 10:00 am ET [1] - A live webcast of the presentation will be available on the company's website, with a replay accessible afterward [2] Company Overview - Lyell Immunopharma is advancing a pipeline of CAR T-cell therapies targeting hematologic malignancies and solid tumors [3] - The company employs various technologies to enhance CAR T cells, aiming for durable tumor cytotoxicity and consistent clinical responses [3] - Key attributes of Lyell's CAR T cells include resistance to exhaustion, maintenance of stemness, and functionality in challenging tumor microenvironments [3]

Core Points - Celularity Inc. has been notified by Nasdaq for not timely filing its Quarterly Report on Form 10-Q for the period ended March 31, 2025, resulting in non-compliance with Listing Rule 5250 (c)(1) [1] - The notice from Nasdaq does not have an immediate effect on the listing or trading of the Company's shares, and the Company has 60 calendar days to submit a compliance plan [2] - The Company is actively working to complete its Form 10-Q and anticipates maintaining compliance with SEC reporting obligations [3] Company Overview - Celularity Inc. is a regenerative and cellular medicine company focused on developing and commercializing advanced biomaterial products and allogeneic, cryopreserved, placental-derived cell therapies, utilizing the postpartum placenta [4]

Oslo, 27 May 2025: Zelluna ASA (the "Company") refers to the announcement on 24 May 2025 regarding a resolution by the Company's Board of Directors to issue 227,096 new shares in the Company against set-off of an option exercise fee. The share capital increase related to the issuance of the new shares has now been registered with the Norwegian Register of Business Enterprises, and the Company's new registered share capital is NOK 20,454,162, divided into 20,454,162 shares, each with a par value of NOK 1. Fo ...

Oslo, 24 May 2025: Zelluna ASA (the "Company") refers to the resolution by the Company's Annual General Meeting held on 29 April 2025 to grant the Company's Board of Directors an authorisation to issue new shares, each with a subscription price of NOK 26, to settle an amount of EUR 500,000 of an already triggered option exercise fee towards Inven2. The Company's Board of Directors has today resolved to issue 227,096 new shares in the Company to Inven2 against set-off of such amount of EUR 500,000. After the ...

Financial Data and Key Metrics Changes - The company ended the quarter with a cash balance of $3.2 million, with cash used in operations for the three months ended March 31, 2025, at $1.3 million, reduced from $2.5 million for the same period in 2024 [21] - The net loss for the first quarter of 2025 was $2.8 million or $0.70 per share, compared to a net loss of $3.8 million or $1.10 per share for the first quarter of 2024 [21] Business Line Data and Key Metrics Changes - The company made significant progress in clinical trials, particularly in solid tumors, with new data presented at the AACR IO conference showing immune activation and early clinical activity in patients with second-line gastric cancer [6][10] - The company is advancing its INKT cell therapies in multiple areas, including solid tumors and immune-related diseases, with a focus on acute respiratory distress syndrome (ARDS) and graft versus host disease (GVHD) [15][18] Market Data and Key Metrics Changes - The company is engaging in confidential discussions for proposals that could extend its runway and accelerate its impact in oncology and immunology [7][9] - The company has observed promising survival rates exceeding 70% in critically ill ventilated patients with ARDS, indicating a potential shift in treatment paradigms [16] Company Strategy and Development Direction - The company is focused on advancing its INKT platform in oncology and immunology, with plans to initiate a phase one trial for GVHD and continue developing its CAR NKT and TCR NKT therapies [8][18] - The company aims to diversify capital and reduce dilution through strategic partnerships, which are essential for unlocking the full potential of its technology [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the regulatory path forward, particularly with the FDA's increased receptivity to novel immune-based approaches [17] - The company is committed to advancing its programs rapidly, guided by scientific conviction and a mandate to bring transformative immune-based therapies to patients in need [19] Other Important Information - The company has been selected for probable funding by the National Institute of Allergy and Infectious Diseases, which is expected to provide critical non-dilutive funding [19] - The company is working to make its therapies accessible through well-designed clinical trials and compassionate use programs [17] Q&A Session Summary Question: Duration until complete response observed in testicular cancer patient - Management indicated that the complete response was formally designated at month 24 after the initial treatment, with disease stabilization observed during the 12-month follow-up period [25][26] Question: Status of phase two gastric trial and expected data release - Management confirmed that they are on track for initial efficacy data in the second half of the year, with updates expected by early next year at the latest [29][30] Question: Updates on government funding and potential delays - Management reassured that while there were delays expected, they received formal notification from NIAID regarding probable funding, which remains a high priority for the agency [31][33] Question: Details on GVHD trial and patient enrollment - Management outlined plans to study GVHD in both steroid refractory acute patients and prophylaxis settings, with discussions with regulators imminent [37][39]