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Mar 31, 2023
Carisma Therapeutics Q1 2023 Earnings Report
Carisma Therapeutics reported financial results for the first quarter ended March 31, 2023 and provided business highlights.
Key Takeaways
Carisma Therapeutics closed its merger with Sesen Bio and is focused on advancing its pipeline, with multiple potential value inflection points on the horizon, including the completion of the Phase 1 clinical trial of CT-0508 and upcoming data from the clinical trial sub-study of CT-0508 in combination with KEYTRUDA®.
Initiated a Phase 1 Sub-Study of CT-0508 in combination with KEYTRUDA® (pembrolizumab) in patients with HER2-overexpressing solid tumors.
Expanded clinical manufacturing capacity through successful technology transfer of CT-0508.
Closed merger with Sesen Bio and commenced trading on Nasdaq under ticker symbol “CARM”.
Cash, cash equivalents and marketable securities of $139.0 million as of March 31, 2023 are sufficient to sustain planned operations through the end of 2024.
Forward Guidance
Carisma believes that its cash, cash equivalents and marketable securities of $139.0 million as of March 31, 2023 are sufficient to sustain Carisma’s planned operations through the end of 2024.
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