PHILADELPHIA - Carisma Therapeutics Inc. (NASDAQ: CARM), in collaboration with Moderna , Inc. (NASDAQ: NASDAQ:MRNA), has announced encouraging pre-clinical data for its innovative in vivo CAR-M therapy targeting hepatocellular carcinoma (HCC), a common form of liver cancer. The anti-GPC3 CAR-M therapy, utilizing mRNA/LNP technology, has demonstrated the ability to reprogram endogenous myeloid cells to attack GPC3+ cancer cells effectively.
The pre-clinical studies indicated that the therapy could specifically target GPC3 tumor antigens and exhibited potent, dose-dependent cytotoxicity against GPC3+ tumor cells. The treatment also stimulated pro-inflammatory cytokines and activated macrophage phenotypes upon antigen engagement. In tests involving both syngeneic and humanized tumor models, the systemic administration of anti-GPC3 CAR mRNA/LNP resulted in a substantial reduction of tumor burden and inhibited metastasis to the liver. The therapy was well-tolerated in mouse models, suggesting its potential as a readily available treatment for GPC3+ solid tumors, including HCC.
Michael Klichinsky, PharmD, PhD, Co-Founder and Chief Scientific Officer at Carisma, expressed optimism about the approach, stating the data showcases the ability to generate anti-GPC3 CAR-M cells directly in vivo, leading to significant tumor reduction. Lin Guey, PhD, CSO of Therapeutic Research Ventures at Moderna, also noted the successful application of their mRNA/LNP platform in enabling in vivo cell therapy.
This collaboration aims to advance the anti-GPC3 in vivo CAR-M therapy towards clinical development, offering a new strategy for treating hepatocellular carcinoma. The press release emphasizes the pre-clinical success but also includes a cautionary note on forward-looking statements, reminding that the results are preliminary and the process of regulatory approval and commercialization is inherently uncertain.
The information for this article is based on a press release statement from Carisma Therapeutics Inc.
In other recent news, Carisma Therapeutics has made significant strides in its operations. The biopharmaceutical company recently appointed Sohanya Cheng to its Board of Directors, coinciding with the resignation of Michael Torok. The company has also expanded its collaboration with Moderna, Inc. to develop new treatments for autoimmune diseases. This partnership will leverage Carisma's proprietary CAR-M technology and Moderna's mRNA/LNP platform.
Carisma's novel cellular therapy, CT-0525, has received Fast Track designation from the FDA, potentially expediting its development and review process. The company has also expanded its Scientific Advisory Board with the appointment of liver fibrosis experts, Dr. Scott Friedman and Dr. Ira Tabas, and elected Marella Thorell and David Scadden, M.D., as directors.
On the analyst front, Carisma received a Buy rating from EF Hutton, while H.C. Wainwright maintained a Buy rating, Evercore ISI maintained an Outperform rating, and BTIG initiated coverage with a Buy rating. However, the company has been notified by the Nasdaq Stock Market of a potential delisting due to its market value falling below the required threshold, triggering a 180-day period to regain compliance. These are the recent developments for Carisma Therapeutics.
InvestingPro Insights
As Carisma Therapeutics Inc. (NASDAQ: CARM) advances its innovative cancer therapy, investors should consider some key financial metrics and insights from InvestingPro. The company's market capitalization stands at a modest $42.79 million, reflecting its early-stage nature in the biotech sector.
Carisma's revenue growth is noteworthy, with a 57.95% increase over the last twelve months as of Q2 2024, and an impressive 158.34% quarterly growth in Q2 2024. This robust top-line expansion aligns with the company's progress in its therapeutic pipeline, including the promising anti-GPC3 CAR-M therapy.
However, InvestingPro Tips reveal some challenges. Carisma is "quickly burning through cash" and "suffers from weak gross profit margins." These factors are not uncommon for biotech companies in the development stage, but they underscore the importance of successful clinical outcomes and potential partnerships, such as the one with Moderna, for the company's financial sustainability.
Another InvestingPro Tip indicates that Carisma "holds more cash than debt on its balance sheet," which could provide some financial flexibility as it pursues its research and development goals. This is particularly crucial given that analysts do not anticipate the company to be profitable this year.
Investors seeking a more comprehensive analysis can access 10 additional InvestingPro Tips for Carisma Therapeutics, offering deeper insights into the company's financial health and market position.
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