Carisma Therapeutics reports Q2 EPS (27c), consensus (30c)

Reports Q2 revenue $9.2M, consensus $3.92M. Carisma anticipates that its cash and cash equivalents of $40.4M as of June 30, 2024 are sufficient to sustain its planned operations into Q3 of 2025. “We’ve achieved considerable clinical and research advancements this year, and I’m excited about our strong momentum and clear focus for the next 12 months,” said Steven Kelly, President and Chief Executive Officer of Carisma. “The CT-0508 program has provided us with invaluable insights. Looking ahead, we are dedicating our efforts to our lead asset, CT-0525, which is actively enrolling patients with initial data expected by the end of 2024. We have also made significant progress in our in vivo oncology and fibrosis programs. The nomination of a development candidate in collaboration with Moderna marks a significant step forward. We believe our robust development pipeline offers multiple potential value drivers in both the near and long term.”