CARGO Therapeutics to Discontinue FIRCE-1 Phase 2 Study of Firi-cel; Advances Remaining Programs While Evaluating Strategic Options
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CARGO Therapeutics has decided to discontinue its Phase 2 clinical study of firicabtagene autoleucel (firi-cel) due to unsatisfactory results. The company will also reduce its workforce by about 50% while advancing other programs and evaluating strategic options.
January 29, 2025 | 9:15 pm
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CARGO Therapeutics is discontinuing its Phase 2 study of firi-cel due to lack of competitive benefit-risk profile, leading to a 50% workforce reduction. The company will focus on other programs and strategic options.
The discontinuation of the Phase 2 study indicates a setback in CARGO's product pipeline, which is likely to negatively impact investor sentiment. The significant workforce reduction further suggests financial and operational challenges. However, the company's focus on other programs and strategic options may provide some future opportunities.
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