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Investor Relations14 Oct 2025
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CARGO Therapeutics (CRGX) investor relations material
CARGO Therapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary6 Aug, 2025
Executive summary
Discontinued lead Phase 2 study and suspended all pipeline development, resulting in a 90% workforce reduction and major restructuring in early 2025.
Entered into a merger agreement with Concentra Biosciences in July 2025, with a cash tender offer and contingent value rights for shareholders.
If the merger is not completed, alternatives include dissolution and liquidation or other strategic transactions.
Financial highlights
Net loss of $49.9M for Q2 2025, compared to $44.3M in Q2 2024; net loss of $134.4M for the first half of 2025, up from $80.2M year-over-year.
Operating expenses rose to $52.9M in Q2 2025 from $49.3M in Q2 2024, driven by $37.1M in restructuring and impairment costs.
Cash, cash equivalents, and marketable securities totaled $252.6M as of June 30, 2025.
Accumulated deficit reached $447.1M as of June 30, 2025.
Interest income decreased to $3.3M in Q2 2025 from $5.0M in Q2 2024 due to lower average balances.
Outlook and guidance
Operating expenses expected to decrease for the remainder of 2025 due to workforce reductions and program suspensions.
Cash runway projected to support operations for at least 12 months from the financial statement issuance date.
Completion of the merger is uncertain; if not completed, the board may pursue liquidation or alternative transactions.
Assess the likelihood of Merger completion.
Explain the impact of the 2025 restructuring.
Detail the CVR terms for stockholders.
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Next CARGO Therapeutics earnings date
Q3 20256 Nov, 2025
Next CARGO Therapeutics earnings date
Q3 20256 Nov, 2025
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Frequently asked questions
CARGO Therapeutics Inc. is a clinical-stage biotechnology company dedicated to advancing the next generation of chimeric antigen receptor (CAR) T-cell therapies aimed at cancer treatment. The company is focused on developing transformative CAR T-cell therapies with the mission of outsmarting cancer and delivering more cures for patients globally. By addressing the limitations of currently approved cell therapies, such as limited durability, safety concerns, and unreliable supply, CARGO Therapeutics is working on engineering CAR T-cells with genetic "cargo" designed to enhance the ability to recognize and kill cancer cells.The company is headquartered in San Carlos, California, and its shares are listed on the Nasdaq.
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