Price Target Changed • Jul 23
Price target decreased by 52% to US$5.33 Down from US$11.18, the current price target is an average from 3 analysts. New target price is 19% above last closing price of US$4.48. The company is forecast to post a net loss per share of US$2.69 next year compared to a net loss per share of US$3.72 last year. Announcement • Jul 08
Concentra Biosciences, LLC agreed to acquire CARGO Therapeutics, Inc. (NasdaqGS:CRGX) in a tender offer transaction. Concentra Biosciences, LLC agreed to acquire CARGO Therapeutics, Inc. (NasdaqGS:CRGX) in a tender offer transaction on July 7, 2025. A cash consideration of $0.15 million valued at $0.679 per share and of $200.8 million valued at $4.379 per share will be paid by Concentra Biosciences, LLC. As part of consideration, $4.04 million is paid towards Company Restricted Stock, $1.14 million is paid towards Restricted Stock Units, $199.66 million is paid towards common equity and $0.15 million is paid towards options of CARGO Therapeutics, Inc. as part of the consideration additionally one non-transferable contingent value right, which represents the right to receive: (i) 100% of the closing net cash of CARGO in excess of $217.5 million; and (ii) 80% of any net proceeds received within two years following closing from any disposition of certain of CARGO’s product candidates that occurs within two years following closing, each pursuant to a contingent value rights agreement. In case of termination of transaction, Concentra Biosciences, LLC will pay a termination fee of $0.50 million and CARGO Therapeutics, Inc. will pay a termination fee of $3.80 million.
The transaction is subject to minimum tender. The expected completion of the transaction is August 2025
TD Securities LLC acted as financial advisor for CARGO Therapeutics, Inc. Latham & Watkins LLP acted as legal advisor for CARGO Therapeutics, Inc. Gibson, Dunn & Crutcher LLP acted as legal advisor for Concentra Biosciences, LLC. TD Securities LLC acted as fairness opinion provider for CARGO Therapeutics, Inc. Recent Insider Transactions • May 18
Interim CEO recently sold US$105k worth of stock On the 14th of May, Anup Radhakrishnan sold around 27k shares on-market at roughly US$3.84 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Anup has been a net seller over the last 12 months, reducing personal holdings by US$112k. Announcement • May 01
CARGO Therapeutics, Inc., Annual General Meeting, Jun 18, 2025 CARGO Therapeutics, Inc., Annual General Meeting, Jun 18, 2025. New Risk • Mar 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$129m net loss in 3 years). Shareholders have been diluted in the past year (17% increase in shares outstanding). Price Target Changed • Mar 19
Price target decreased by 28% to US$9.74 Down from US$13.50, the current price target is an average from 5 analysts. New target price is 135% above last closing price of US$4.15. Stock is down 85% over the past year. The company is forecast to post a net loss per share of US$2.67 next year compared to a net loss per share of US$3.72 last year. Price Target Changed • Mar 17
Price target increased by 15% to US$15.54 Up from US$13.50, the current price target is an average from 6 analysts. New target price is 278% above last closing price of US$4.11. Stock is down 85% over the past year. The company is forecast to post a net loss per share of US$2.12 next year compared to a net loss per share of US$3.72 last year. New Risk • Jan 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m. Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$130m net loss in 3 years). Price Target Changed • Jan 30
Price target decreased by 52% to US$15.40 Down from US$32.00, the current price target is an average from 5 analysts. New target price is 354% above last closing price of US$3.39. Stock is down 85% over the past year. The company is forecast to post a net loss per share of US$3.69 next year compared to a net loss per share of US$16.53 last year. Announcement • Jan 30
CARGO Therapeutics, Inc. to Discontinue FIRCE-1 Phase 2 Study of Firi-cel; Advances Remaining Programs While Evaluating Strategic Options CARGO Therapeutics, Inc. announced that it has elected to discontinue FIRCE-1, a Phase 2 clinical study of firi-cel for patients with large B-cell lymphoma 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 1 proof-of-concept data as well as its novel allogeneic platform. Based on an ad hoc analysis of FIRCE-1 prompted by recent safety events, the Company believes the results do not support a competitive benefit-risk profile of firi-cel for the intended patient population. While data from 51 patients with at least one post baseline scan demonstrated an overall response rate of 77% and complete response rate of 43%, the durability of CR at three months was 18%. Safety data indicated 18% of patients developed immune effector cell-associated hemophagocytic lymphohistiocytosis-like syndrome (IEC-HS) that were grade 3 or higher, including grade 4 and grade 5 serious adverse events. IEC-HS is a toxicity that is associated with CAR T-cell therapy and firi-cel in other clinical studies. The Company is implementing a workforce reduction of approximately 50% to preserve cash. Further, CARGO will continue to advance CRG-023, its tri-specific CAR T, into a Phase 1 dose escalation study and its allogeneic platform to lead vector candidate selection while evaluating its strategic options. With preliminary cash, cash equivalents and marketable securities of $368.1 million as of December 31, 2024, the Company expects its cash runway to be extended into mid-2028. CARGO intends to present an analysis of the FIRCE-1 Phase 2 study at a future medical conference. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$231m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Announcement • Nov 05
CARGO Therapeutics, Inc. Announces ASH 2024 Abstract on CRG-023, a Tri-Specific CAR T, Highlighting Innovative Construct Design and Durable Anti-B-Cell Lymphoma Activity CARGO Therapeutics, Inc. announced that its first abstract on CRG-023 will be presented as a poster at the upcoming 66thAmerican Society of Hematology (ASH) Annual Meeting and Exposition, taking place December 7-10, 2024, in San Diego, California. Additionally, the data showed that CRG-023 T cells were able to durably clear tumor cells in models mimicking antigen loss in contrast to mono-CAR T cells such as FMC63-containing CD19 CAR T cells. Details of CARGO's presentation are as follows: Title: CRG-023 Is a Novel Tri-Specific CAR T Product candidate Engineered to Prevent Antigen Escape and Sustain durable Anti-Tumor Functionality Against B-Cell Malignancies. The abstract reviews the CRG-023 construct design, including the discovery of novel CD19 and CD20 scFv binders, selected for enhanced CAR performance, that were combined with the existing CD22 scFv binder used in firicabtagene autoleucel (firi-cel). The iterative engineering of the construct allowed for the selection of the optimal costimulatory domain configuration and optimal assemblage in a unique tri-cistronic lentiviral vector designed to maximize durable anti-tumor response. Importantly, in these mouse models, CRG-023 CAR T cells were able to sustain durable in vitro anti-tumor activity despite repeated tumor challenge against tumor cells expressing all or any one of the three antigens. Superior tumor control was observed as compared to benchmark CAR T cells, without increased cytokine secretion and while sustaining a less effector-differentiated phenotype. In vivo studies showed that CRG-023 CAR T cells were highly active and able to clear Raji lymphoma tumor cells expressing the three target antigens in a dose-response manner and down to the lowest dose tested (1x10CAR cells). Additionally, the data showed that CRG-023 T cells were able to durably clear tumor cells in models mimicking antigen loss in contrast to mono-CAR T cells such as FMC63-containing CD19 CAR T cells. New Risk • Sep 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$201m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Recent Insider Transactions Derivative • Sep 20
President notifies of intention to sell stock Gina Chapman intends to sell 75k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of September. If the sale is conducted around the recent share price of US$23.33, it would amount to US$1.7m. For the year to December 2022, Gina's total compensation was 11% salary and 89% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Gina has owned 103.91k shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. New Risk • Jul 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Revenue is less than US$1m. Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$200m net loss in 3 years). Buy Or Sell Opportunity • Jun 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 42% to US$15.92. The fair value is estimated to be US$20.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Announcement • Jun 06
CARGO Therapeutics, Inc. Announces the Appointment of Jane Pritchett Henderson as Independent Director CARGO Therapeutics, Inc. announced the appointment of Jane Pritchett Henderson to its Board of Directors. Ms. Henderson will also serve as a member of the audit and compensation committees. Ms. Henderson has served as Chief Financial Officer of Apogee Therapeutics since January 2023. Prior to joining Apogee, she served as the Chief Financial Officer and Chief Business Officer of Adagio Therapeutics (now Invivyd, Inc.). She has also served as Chief Financial Officer of Turnstone Biologics, Chief Financial Officer and Senior Vice President of Corporate Development of Voyager Therapeutics, and as the Senior Vice President, Chief Financial and Business Officer of Kolltan Pharmaceuticals. Prior to Kolltan Pharmaceuticals, Ms. Henderson served in various financial and business development executive roles at biopharmaceutical companies after spending almost 20 years in healthcare investment banking. She currently serves on the Board of Directors of Akero Therapeutics, Inc. and Ventus Therapeutics and had previously served on the Board of IVERIC (formerly Ophthotech) and Sesen Bio (formerly Eleven Bio). Announcement • May 29
CARGO Therapeutics, Inc. announced that it expects to receive $110.007 million in funding CARGO Therapeutics, Inc. announced it has entered into a Securities Purchase Agreement of 6,471,000 shares of the Company’s common stock $0.001 par value per share at issue price $17 for gross proceeds $110,007,000 on May 28, 2024. The closing of the Private Placement is expected to occur on May 30, 2024, subject to the satisfaction of customary closing conditions. Buy Or Sell Opportunity • May 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to US$20.33. The fair value is estimated to be US$25.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Announcement • Apr 27
CARGO Therapeutics, Inc., Annual General Meeting, Jun 04, 2024 CARGO Therapeutics, Inc., Annual General Meeting, Jun 04, 2024, at 09:00 Pacific Standard Time. Agenda: To elect two Class I directors to hold office until the 2027 annual meeting of stockholders or until their successors are elected; to consider and ratify the appointment, by the Audit Committee of the company's Board of Directors, of Deloitte & Touche LLP as the independent registered public accounting firm and independent auditor of the company for its year ending December 31, 2024; and to transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof. Announcement • Apr 16
CARGO Therapeutics, Inc. Appoints Kapil Dhingra to Board of Directors CARGO Therapeutics, Inc. announced it has appointed Kapil Dhingra, M.B.B.S., to the Company’s Board of Directors. Dr. Dhingra is a medical oncologist and a physician-scientist bringing more than 25 years of strategic clinical development experience in oncology, including cell therapy, with a proven track record in drug development, patient care and academic research. Dr. Dhingra’s development experience spans several oncology companies, both as a Board member or in senior leadership. He is currently Chairman of the Board for LAVA Therapeutics, a member of the Board of Supervisors for Servier and a member of the Board of Directors of Black Diamond Therapeutics, Inc., Replimune, Inc., and Median Technologies. He previously served on the Board of Autolus Therapeutics plc from the company’s inception until the recent Biologics License Application (BLA) filing of its CAR T-cell therapy.In 2008, Dr. Dhingra founded and continues to be a managing member of KAPital Consulting, LLC, a healthcare consulting firm providing strategic advisory services to biotechnology companies. Previously he served as Head of the Oncology Disease Biology Leadership Team and Head of Oncology Clinical Development at The Roche Group (Roche), during which he led numerous drug approvals. Prior to joining Roche, he worked in the oncology clinical development group at Eli Lilly and Company. Dr. Dhingra has also served as a faculty member at The University of Texas M.D. Anderson Cancer Center, Indiana University School of Medicine and Memorial Sloan Kettering Cancer Center. Buy Or Sell Opportunity • Apr 02
Now 20% undervalued Over the last 90 days, the stock has risen 4.1% to US$20.91. The fair value is estimated to be US$26.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Board Change • Dec 31
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. 2 experienced directors. No highly experienced directors. Director Abe Bassan is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Dec 07
CARGO Therapeutics, Inc. Announces Formation Scientific Advisory Board CARGO Therapeutics, Inc. announced the formation of a Scientific Advisory Board (SAB) comprised of distinguished experts in cancer research, immunology, and CAR T-cell therapy. The SAB will be chaired by Robbie Majzner, MD, co-founder of CARGO and Director of the Pediatric and Young Adult Cancer Cell Therapy Program within the Departments of Pediatric Oncology and Medical Oncology at Dana Farber Cancer Institute and the Division of Hematology/Oncology at Boston Children’s Hospital. Members of the CARGO Scientific Advisory Board are listed below. Robbie Majzner, MD, co-founder of CARGO and Scientific Advisory Board Chair, and Director of the Pediatric and Young Adult Cancer Cell Therapy Program within the Departments of Pediatric Oncology and Medical Oncology at Dana Farber Cancer Institute and the Division of Hematology/Oncology at Boston Children’s Hospital. Stephen Gottschalk, MD, Chair of the Department of Bone Marrow Transplantation and Cellular Therapy at St Jude Children’s Research Hospital. Andras Attila Heczey, MD, Professor, Department of Pediatrics of Baylor College of Medicine, Section of Pediatric Hematology and Oncology. Marcela Maus, MD, PhD, Associate Professor at Harvard Medical School, the Paula O’Keefe Chair in Oncology, Director of Cellular Immunotherapy at Massachusetts General Hospital (MGH) Cancer Center, Attending Physician in the Hematopoietic Cell Transplant and Cell Therapy Division of Oncology at MGH. Cameron Turtle, MBBS, PhD, Professor and CLEARbridge Chair in Cancer Immunotherapy in the Faculty of Medicine and Health at the University of Sydney; Clinical academic physician at Royal North Shore Hospital, Sydney, Australia. Announcement • Nov 11
CARGO Therapeutics, Inc. has completed an IPO in the amount of $281.25 million. CARGO Therapeutics, Inc. has completed an IPO in the amount of $281.25 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 18,750,000
Price\Range: $15
Transaction Features: Sponsor Backed Offering