A cancer cell therapy biotech that emerged just nine months ago with $200 million and a Phase I trial already underway will test the public markets just weeks ahead of an expected holiday pause on initial public offerings.
CARGO Therapeutics, born out of the work of Stanford CAR-T leader Crystal Mackall, unveiled its initial Nasdaq IPO plans on Friday night. It marks the first CAR-T cell therapy startup to test an IPO this year. CARGO expects to list under the ticker CRGX and use the proceeds mainly for Phase II studies of its CD22-targeted CAR-T cell therapy.
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