Carisma Therapeutics reports Q3 EPS (31c), consensus (26c)

Reports Q3 revenue $3.39M, consensus $5.47M “Our recent progress across clinical and preclinical programs demonstrates our commitment to pioneering therapies that address significant unmet medical needs,” said Steven Kelly, President and CEO of Carisma Therapeutics (CARM). “We are advancing on multiple fronts. We expect to report initial data from the Phase 1 study of CT-0525 in the first quarter of 2025. We also recently nominated our first development candidate in hepatocellular carcinoma with Moderna and are excited to bring additional in vivo CAR-M therapies forward, including autoimmune targets. Our liver fibrosis program is progressing as well, with the nomination of a development candidate anticipated in the first quarter of 2025. These key milestones move us closer to delivering transformative treatments for patients in need.” Carisma anticipates that its cash and cash equivalents of $26.9M as of September 30 are sufficient to sustain its planned operations into the third quarter of 2025. The company’s cash forecast contains estimates and assumptions, and management cannot predict the timing of all cash receipts and expenditures with certainty. Variances from management’s estimates and assumptions could impact the company’s liquidity prior to the third quarter of 2025.