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Carisma Therapeutics (CARM) investor relations material
Carisma Therapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary27 Aug, 2025
Executive summary
Operations reduced to focus on strategic alternatives and wind down, with no intention to resume R&D activities; 84% workforce reduction executed in March 2025.
Entered into a merger agreement with OrthoCellix; post-merger, legacy shareholders expected to own 10% of the combined company.
Nasdaq compliance issues persist; reverse stock split approved to help maintain listing, but continued listing is uncertain.
Collaboration with Moderna concluded for R&D funding; future revenue depends on milestones and royalties.
Financial highlights
Net loss of $9.8M for Q2 2025, improved from $11.2M in Q2 2024; six-month net loss of $19.0M, down from $30.1M year-over-year.
Q2 2025 collaboration revenue was $0, down from $9.2M in Q2 2024; six-month revenue was $3.7M, down from $12.6M year-over-year.
Cash and cash equivalents at June 30, 2025 were $2.0M, with an accumulated deficit of $324.6M.
Research and development expenses dropped to $2.4M in Q2 2025 from $15.3M in Q2 2024; general and administrative expenses fell to $3.4M from $5.6M.
Losses of $3.5M on sale of held-for-sale assets and $0.9M on lease abandonment recognized in Q2 2025.
Outlook and guidance
Cash runway expected to last into fall 2025; substantial doubt exists about ability to continue as a going concern beyond one year.
Future operations are highly dependent on successful completion of the OrthoCellix Merger; failure may lead to bankruptcy or liquidation.
No plans to resume historical R&D activities unless a strategic transaction or significant funding is secured.
How does net cash impact Carisma's merger valuation?
What if OrthoCellix merger does not close?
What is the value of Moderna's option rights?
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Next Carisma Therapeutics earnings date
Q3 20257 Nov, 2025
Next Carisma Therapeutics earnings date
Q3 20257 Nov, 2025
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Frequently asked questions
Carisma Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing immunotherapies using its proprietary macrophage and monocyte cell engineering platform. The company's primary aim is to create treatments for cancer and other serious diseases by leveraging engineered macrophages and monocytes to attack and eliminate tumor cells. Carisma's product candidates include ex vivo gene-modified autologous chimeric antigen receptor-monocyte (CAR-Monocyte) and CAR-macrophage (CAR-Macrophage) cellular therapies designed to treat solid tumors that overexpress specific markers such as HER2. The company is headquartered in Philadelphia, PA, and its shares are listed on the NASDAQ.
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