CARGO Therapeutics Inc (NASDAQ: CRGX) announced its Q2 financial results, reporting an EPS of ($1.02), marginally below the FactSet consensus estimate of ($1.00). The company's R&D expenses amounted to $37.5 million, surpassing the expected $34.9 million. As of the end of the quarter, CARGO Therapeutics held $443.5 million in cash and cash equivalents.
About Cargo Therapeutics
CARGO Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing next-generation cell therapies for cancer. Its lead program, firicabtagene autoleucel (firi-cel) (CRG-022), is in a potentially pivotal Phase 2 trial for large B-cell lymphoma patients who relapsed after CD19 CAR T-cell therapy. CARGO is also advancing a pipeline of therapies using its proprietary cell engineering platform to enhance CAR T-cell efficacy and combat tumor resistance. The company's founders are experts in CAR T-cell therapy, with extensive experience in developing and commercializing oncology products.