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Carisma Therapeutics Inc. (CARM+1.31%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing details the company's strategic focus on identifying and exploring strategic alternatives, including potential sales, licensing, or partnerships, as part of a cash preservation plan. This plan follows a significant reduction in workforce and the cessation of research and development activities.
Carisma's collaboration with Moderna on mRNA/LNP in vivo CAR-M platform development is highlighted, with all 12 oncology research targets nominated under the collaboration. The company will not conduct further research activities under this agreement.
The report outlines Carisma's proprietary CAR-M platform and its application in developing therapies for liver fibrosis and solid tumor oncology. However, the company has paused these programs pending strategic alternatives or additional funding.
Carisma's financial statements show a net loss of $60.5 million for the year ended December 31, 2024. The company had cash and cash equivalents of $17.9 million as of the end of 2024, with expectations to sustain operations into the second half of 2025.
The filing includes a discussion on the company's intellectual property portfolio, which consists of over 40 granted patents and more than 100 pending applications across various jurisdictions.
Carisma's report also addresses potential risks related to its strategic alternatives exploration, financial position, and reliance on third-party collaborations, particularly with Moderna.
The company acknowledges the potential impact of healthcare reform and regulatory changes on its operations and the commercialization of its product candidates.
Carisma's board has approved a cash preservation plan to maximize value and prepare for a potential wind down of operations, with no current intention to resume research and development independently.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Carisma Therapeutics Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.