Cargo Therapeutics downgraded to Neutral from Buy at Chardan

Chardan downgraded Cargo Therapeutics (CRGX) to Neutral from Buy without a price target The company will be discontinuing the Phase II FIRCE-1 clinical trial of its lead autologous CD22 CAR-T candidate firi-cel after an ad hoc analysis prompted by recent safety events found an unfavorable benefit/risk profile, the analyst tells investors in a research note. The firm moved to the sidelines pending visibility on CRG-023 data timelines and details on the company’s allogeneic strategy.