Biotech Alert: Searches spiking for these stocks today

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include:

• CARGO Therapeutics (CRGX), 2,675% surge in interest
• Hepion Pharmaceuticacls (HEPA), 162% surge in interest

Pipeline and key clinical candidates for these companies:

CARGO Therapeutics is a clinical-stage biotechnology company that says it is “advancing next-generation, best-in-class, and potentially curative cell therapies for cancer patients.” CARGO has a pipeline that includes its CRG-023 product candidate, a CD19/CD20/CD22 tri-specific CAR T developed using a tri-cistronic construct and designed to address several known causes of relapse.

Hepion Pharmaceuticals is a clinical stage biopharmaceutical company that has been developing a treatment for non-alcoholic steatohepatitis, hepatocellular carcinoma, and other chronic liver diseases. Hepion’s lead drug candidate, rencofilstat, is a potent inhibitor of cyclophilins, which are involved in many disease processes. Rencofilstat has been shown to reduce liver fibrosis and hepatocellular carcinoma tumor burden in experimental disease models and is currently in Phase 2 clinical development for the treatment of NASH.

Recent news on these stocks:

July 8

CARGO Therapeutics has entered into a definitive merger agreement with Concentra Biosciences, whereby Concentra will acquire CARGO for $4.379 in cash per share of CARGO common stock, par value $0.001 per share, plus one non-transferable contingent value right, which represents the right to receive: 100% of the closing net cash of CARGO in excess of $217.5M; and 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. Following a strategic review process conducted with the assistance of CARGO’s management and legal and financial advisors and other factors considered, the CARGO board of directors has unanimously determined that the acquisition by Concentra is in the best interests of all CARGO stockholders and has approved the Merger Agreement and related transactions. Pursuant and subject to the terms of the Merger Agreement, Concentra will commence a tender offer by July 21, 2025, to acquire all outstanding shares of CARGO Common Stock. The closing of the Offer is subject to certain conditions, including the tender of CARGO Common Stock representing at least a majority of the total number of outstanding shares, the availability of at least $217.5M of cash at closing, and other customary closing conditions. Immediately following the closing of the Offer, CARGO will be acquired by Concentra, and all remaining shares not tendered in the Offer, other than shares owned directly or indirectly by Concentra or the Company or a subsidiary thereof or validly subject to appraisal, will be converted into the right to receive the same cash and CVR consideration per share as is provided in the Offer. CARGO officers, directors and certain Company stockholders holding approximately 17.4% of CARGO Common Stock in the aggregate have signed tender and support agreements under which such parties have agreed to tender their shares in the Offer and support the merger transaction. The merger transaction is expected to close in August 2025.

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About “Biotech Alert”

The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.

This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.

This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.