CARGO Thera tanks as it halts FIRCE-1 Phase II study of firi-cel

31 January 2025

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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