BUZZ-Cargo Therapeutics hits record low on cancer drug trial halt
ReutersJan 30, 2025 3:47 PM
Shares of drug developer Cargo Therapeutics CRGX.O fall 77.4% to record low of $2.99
On Wednesday, CRGX said it is stopping a mid-stage trial for cancer treatment
Trial was stopped due to serious side effects in some patients, including a severe inflammatory condition - CRGX
CRGX has $368.1 million in cash and expects it to last until mid-2028
CRGX also said it is reducing its workforce by about 50%
As of Sept. 30, 2024, co had 170 full-time employees - SEC filing
CRGX fell 36.5% in 2024
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