Robust Growth on the Horizon

Data has shown positive trends in Carisma Therapeutics’ financials, paving the way for increased investor confidence in the biopharmaceutical company. With cash reserves of $40.4 million and a recent $2.0 million influx from the Moderna Collaboration, Carisma appears robustly funded through the third quarter of 2025.

A Glimpse Into the Future

Steven Kelly, the President and Chief Executive Officer of Carisma, expressed a positive outlook on the company’s future prospects following significant clinical and research advancements. Carisma’s focus is primed on CT-0525, its flagship asset with trials currently underway and initial data anticipated before the end of 2024. The organization has also made strides in its oncology and fibrosis programs, forging a development candidate collaboration with Moderna that stands as a significant milestone.

Quarterly Highlights and Beyond

Ex Vivo Oncology

• CT-0525 (Anti-HER2 Chimeric Antigen Receptor Monocyte (CAR-Monocyte))
  • Carisma dosed its first patient in a Phase 1 clinical trial for CT-0525 on May 16, 2024, showcasing its commitment to breakthrough cellular therapy for solid tumor patients. Fast Track designation for CT-0525 from the FDA was granted on June 25, 2024, indicating regulatory recognition of its potential. The anticipated release of initial trial data by year-end 2024 builds excitement around this innovative treatment approach.

• CT-0508 (Anti-HER2 Chimeric Antigen Receptor Macrophage (CAR-Macrophage))
  • All clinical activities for CT-0508 were finalized by July 2024, with early ctDNA analysis yielding encouraging results for patients. An August 8, 2024 update highlighted positive safety and feasbility data for CT-0508 in combination with pembrolizumab. Although some limitations were identified, the data provides insights for future efficacy evaluations. Carisma plans to explore the potential synergies of combining CT-0508 with pembrolizumab in their CT-0525 program.

In Vivo Oncology

• GPC3+ Solid Tumors (CAR-M + mRNA/LNP; Moderna Collaboration)

Exploring Carisma’s Recent Progress and Financial Performance

Innovative Cancer Treatment Advances

Carisma, the biotechnology company, recently revealed the naming of its inaugural development candidate in collaboration with ModernaTX Inc. This candidate, identified as a CAR-M therapy targeting Glypican-3, stands poised to revolutionize the treatment of solid tumors, with specific emphasis on hepatocellular carcinoma, a rampant type of liver cancer proving to be one of the swiftest spurring factors behind cancer-induced fatalities in the United States.

The news was accompanied by a substantial $2.0 million financial milestone from Moderna, cementing the progress made by Carisma in this significant collaboration. With a promise to disclose preclinical data about this novel therapy at an upcoming medical event, Carisma is steadily accelerating its pace towards groundbreaking cancer treatments.

Strides in Fibrosis and Immunology

In parallel to its cancer-fighting endeavors, Carisma declared advancements in combating fibrosis by presenting additional preclinical data related to liver fibrosis. These developments will be highlighted at the upcoming American Association for the Study of Liver Diseases meeting scheduled for November, in sunny San Diego, CA.

Moreover, Carisma’s roadmap includes naming a development candidate for the liver fibrosis program in the initial quarter of 2025. The strides made in fibrosis research, coupled with their cancer treatment innovations, underscore Carisma’s comprehensive commitment to transformative medical solutions.

Corporate Expansion and Reshaping

Amidst its groundbreaking scientific breakthroughs, Carisma welcomed esteemed professionals, David Scadden and Marella Thorell, to its Board of Directors. Simultaneously, the company bid farewell to Regina Hodits and Björn Odlander, marking a transition towards expertise in medicine, finance, and operations.

Furthermore, the addition of Dr. Scott Friedman and Dr. Ira Tabas to the Scientific Advisory Board highlights Carisma’s strategic investment in pioneering minds within the field of liver fibrosis. Their invaluable contributions are set to bolster Carisma’s efforts in developing patient-centric treatments.

Robust Second Quarter Financial Results

Carisma’s financial report for the second quarter of 2024 painted a resilient picture, with cash and cash equivalents amounting to $40.4 million as of June 30, showcasing financial stability amidst research and development expenses.

The quarter also saw a commendable reduction in research and development expenses compared to the previous year, mainly attributed to optimized operational costs. Likewise, general and administrative expenses experienced a decline, reflecting prudent financial management by the company.

While the net loss for the period reduced significantly from the prior year, Carisma’s financial discipline and strategic decisions signal a promising trajectory for the company’s growth and sustainability.

Exploring Carisma Therapeutics’ Financial and Therapeutic Outlook

Financial Stability and Strategic Planning

Carisma Therapeutics anticipates that its cash reserves of $40.4 million as of June 30, 2024, will sustain its operations well into the third quarter of 2025. While the Company’s financial projections are based on certain assumptions, the inherent uncertainties surrounding cash flows could affect liquidity before the projected timeline.

Unveiling CT-0525: A Breakthrough in Cancer Therapy

CT-0525 represents a pioneering advancement in the realm of cancer treatment. This first-in-class, ex vivo gene-modified autologous chimeric antigen receptor-monocyte (CAR-Monocyte) therapy targets solid tumors that overexpress human epidermal growth factor receptor 2 (HER2). Its application in a Phase 1 clinical trial for patients with advanced HER2-overexpressing solid tumors signifies a potential paradigm shift in addressing challenges such as tumor infiltration and immunosuppression within the tumor microenvironment. CT-0525 aims to enable significant dose escalation, enhance tumor infiltration, and streamline manufacturing processes compared to conventional macrophage therapies.

About Carisma Therapeutics

Carisma Therapeutics Inc., headquartered in Philadelphia, PA, is spearheading transformative immunotherapy developments for cancer and other critical diseases. By leveraging its proprietary macrophage and monocyte cell engineering platform, Carisma is at the forefront of creating innovative cell therapies. The focus on engineered macrophages and monocytes underscores the company’s commitment to revolutionizing both innate and adaptive immune responses.

Navigating Forward with Caution

While Carisma’s future endeavors hold promise, prudent caution is advised due to the inherent uncertainties of the biopharmaceutical landscape. Forward-looking statements, including those related to business strategies, product pipelines, and clinical trials, necessitate a cognizant approach. Risk factors such as intellectual property protection, regulatory approvals, and financial dynamics could significantly impact the Company’s trajectory.

Staying Informed as an Investor

For investors keen on tracking Carisma Therapeutics’ journey, staying abreast of risk factors and regulatory developments is paramount. Engaging with the company’s financial reports, including the Annual Report on Form 10-K and Quarterly Report on Form 10-Q, provides insights into the nuances shaping the biopharmaceutical landscape. Acknowledging the dynamic nature of the industry can guide informed investment decision-making.

For more information, visit: www.carismatx.com

CARISMA THERAPEUTICS INC. Unaudited Consolidated Balance Sheets 2024

Assessing the Financial Landscape

When it comes to financial assessments, numbers don’t lie. A peek at Carisma Therapeutics Inc.’s Unaudited Consolidated Balance Sheets for 2023 and 2024 reveals much about their financial health and strategic positioning within the industry.

Current Assets Snapshot

The figures showcase a tantalizing tale of growth and flux. In the realm of current assets, cash and cash equivalents tell a compelling story — a drop from $77,605 to $40,362 from December 2023 to June 2024. Prepaid expenses and other assets also show a similar trend, twitching from $2,866 to $10,359 over the same period.

Building Up: Property and Equipment Investments

Turning towards property and equipment, a critical investment area for any firm, the numbers hint at prudent decisions. The net worth of property and equipment moved from $6,764 in December 2023 to $6,531 in June 2024, subtly underscoring Carisma Therapeutics Inc.’s strategic choices in capital allocation.

Leasing into the Future: Right of Use Assets

The presence of right-of-use assets is an intriguing aspect of the financial landscape. These assets, related to operating leases, have seen a slight climb from $2,173 in December 2023 to $1,945 in June 2024. This modest increase may reflect the company’s confidence in its operational infrastructure.

Wrapping Up with Deferred Financing Costs

Lastly, deferred financing costs echo a tale of steadfast financial prudence. The figures in this domain have held steady at $142 throughout December 2023 and June 2024, indicating a disciplined approach to financial management even amidst market fluctuations.

Unveiling the Tapestry of Financial Assets and Liabilities

The Symphony of Numbers

The financial world is a tapestry woven with numbers, each strand bearing significant weight and significance. In the grand theatre of commerce, figures dance across balance sheets, revealing the underlying health of entities.

Assets: The Golden Shield

When it comes to finances, assets stand as the golden shield, protecting against the uncertainties of the market. In the kingdom of fiscal stability, total assets worth a substantial $59,339 stand as a formidable fortress, safeguarding against turbulence.

Assets, the cornerstone of prosperity, paint a vivid picture of strength and resilience. An enduring testament to perseverance, an entity’s total assets signify a formidable presence in the financial realm.

The Dance of Liabilities and Equity

However, no fortress stands unchallenged without examining its liabilities and stockholders’ equity. This intrinsic duet reveals the delicate balance between obligation and ownership, a necessary tango in the world of commerce.

Current Liabilities: A Glimpse into Obligations

Within the realm of current liabilities lie obligations waiting to be fulfilled. Accounts payable, accrued expenses, deferred revenue, operating lease liabilities, and finance lease liabilities divulge a narrative of commitment and responsibility.

Facing the Numbers

In the intricate web of finances, every number tells a story. The $9,241 accrued expenses, the $659 deferred revenue, the $1,179 operating lease liabilities, and the $1,283 finance lease liabilities all reveal a mosaic of obligations waiting to be met.

Unveiling Financial Health Through Liabilities Examination

Numbers speak louder than words, and in the realm of finance, figures often scream the true tale of a company’s fiscal well-being. Let’s delve into the nitty-gritty of liabilities to decipher the financial status of the entity in question.

Peering into the Current Liabilities

A snapshot of the present financial obligations reveals intriguing insights. The total current liabilities amount to $15,617, showing a slight dip from the previous period.

Delving deeper, deferred revenue stands at $41,250, depicting robust figures that signify a flourishing financial front.

Operating lease liabilities, totaling $795, seem stable, hinting at a balanced operational structure. On the other hand, finance lease liabilities, at $502, display a notable figure that demands attention.

Other long-term liabilities account for $815, marking a substantial presence in the financial landscape.

As we culminate the estimation of total liabilities at $58,979, showcasing a conservative increase, it illuminates the fiscal scenario under scrutiny.

Unearthing Stockholders’ Equity

Shifting our focus to stockholders’ equity, we stumble upon a rather unassuming yet integral piece of the financial puzzle.

Preferred stock remains untapped at $0, hinting at a deliberate decision that echoes strategic prudence. Meanwhile, common stock, with 41,544,975 shares issued and outstanding, paints a picture of stable equity issuance.

In essence, the financial liabilities exposition offers a nuanced perspective, akin to uncovering hidden treasures stowed away in the caverns of accounting books.

The Financial Fortitude of Carisma Therapeutics Inc.: Unveiling the Corporate Ledger

Financial Foundations

As one scrutinizes the fiscal facade of Carisma Therapeutics Inc., intricate details emerge that paint a portrait of both challenge and triumph. Rooted in the bedrock of numbers, the unaudited consolidated statements of operations and comprehensive loss lay bare a tale of fiscal fortitude. In comparing the balance sheet figures of 2024 with those of the preceding year, it’s evident that the company’s financial landscape is ever-evolving.

The Stockholders’ Tale

Within the pages of the balance sheet, stockholders’ equity stands as a beacon of hope, steadfast amid changing tides. A comparison of the total stockholders’ equity between the two fiscal years reveals a significant shift. The figures, akin to a financial seesaw, highlight the company’s journey towards financial stability and growth.

A Closer Look at the Numbers

Delving deeper into the numbers uncovers a symphony of financial data, each figure singing a different note in the melody of corporate finance. The undulating figures of collaboration revenues offer a glimpse into the company’s ability to forge strategic partnerships and drive revenue streams. Operating expenses stand as a testament to the company’s commitment to growth and innovation, despite the ebb and flow of financial markets.

The Path Forward

As Carisma Therapeutics Inc. navigates the financial labyrinth, these figures serve as signposts guiding the way forward. The company’s financial performance in 2024 is not just a reflection of past endeavors but a compass pointing towards future endeavors. Like a financial alchemist, the company continues to transmute challenges into opportunities, forging a path towards sustained success.

Analyzing Financial Metrics

Research and Development

Research and development expenses for the period stood at $15,307, reflecting a commitment to innovation and growth. This investment in future technologies and products bodes well for the company’s long-term competitiveness. Comparatively, the figure was $18,518 in the previous period, showing a shift in strategic focus.

General and Administrative Costs

General and administrative expenses totaled $5,560, indicative of the essential operations supporting the core functions of the business. With a slight increase to $6,007 from the prior period, there seems to be a proactive approach towards managing and streamlining administrative functions.

Total Operating Expenses

The overall operating expenses amounted to $20,867, demonstrating the total cost of maintaining the business. In contrast, the previous period reported $24,525 in operating expenses. This change signifies potential cost-saving measures or shifts in the operational structure.

Operating Performance

The operational loss of ($11,670) reveals the core financial performance of the company in the current period. This loss contrasts with the larger operating loss of ($20,965) in the comparative period, signifying potential improvements in operational efficiency and revenue generation.

Financial Income and Expenses

Interest income (expense), net, amounted to $508, indicating the impact of financing activities on the company’s financial position. In comparison, the figure was $1,177 in the prior period, suggesting potential changes in interest rates or financing strategies.

Pre-Tax Performance

The pre-tax loss of ($11,162) outlines the company’s financial position before accounting for tax implications in the current period. This loss contrasts with the pre-tax loss of ($19,788) in the previous period, showcasing efforts to enhance pre-tax profitability and financial health.

Net Loss and Taxation

The net loss of ($11,162) reflects the overall financial performance after accounting for all expenses and revenue generation in the current period. Comparatively, the net loss was ($19,876) in the previous period, indicating potential shifts in business strategies and financial management. Income tax expenses also decreased from ($88) in the prior period to $— in the current period, suggesting changes in tax liabilities and provisions.

The Ups and Downs of Carisma Therapeutics: Second Quarter 2024 Financial Report