US clinical-stage biotech CARGO Therapeutics’ (Nasdaq: CRGX) shares plummeted more than 75% to $3.23 yesterday, after it announced that it has elected to discontinue FIRCE-1, a Phase II clinical study of firicabtagene autoleucel (firi-cel).
The study is in patients with large B-cell lymphoma (LBCL) whose disease relapsed or was refractory (R/R) to CD19 CAR T-cell therapy.
In-line with this decision, the company will reduce its workforce to extend cash runway and prioritize the advancement of CRG-023 to Phase I proof-of-concept data as well as its novel allogeneic platform.
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