PHILADELPHIA - Carisma Therapeutics Inc. (NASDAQ:CARM), a biopharmaceutical company engaged in the development of immunotherapies, today announced the addition of two key opinion leaders in liver fibrosis to its Scientific Advisory Board (SAB). Dr. Scott Friedman and Dr. Ira Tabas, both distinguished for their contributions to liver disease research, have been appointed to guide the company's program in creating treatments for advanced liver disease.
Dr. Friedman, Chief Emeritus of Liver Diseases at the Icahn School of Medicine at Mount Sinai, is noted for his research on the hepatic stellate cell, critical in liver scarring. His work has been foundational in the field, earning him recognition and numerous awards, including the International Hans Popper Award. Dr. Friedman's experience extends to consulting for various companies in the liver disease sector.
Dr. Tabas holds the position of Richard J. Stock Professor and Vice-Chair of Research in the Department of Medicine at Columbia University. His research on metabolic dysfunction-associated steatohepatitis (MASH) fibrosis addresses the interactions between different liver cells, which has significant implications for drug development.
Dr. Tabas has received several honors, such as the American Heart Association Established Investigator Award, highlighting his contributions to medical research.
Steven Kelly, President and CEO of Carisma, expressed enthusiasm for the appointments, noting that the expertise of Dr. Friedman and Dr. Tabas will greatly enhance the company's efforts in developing engineered macrophage therapies for liver diseases.
Carisma Therapeutics Inc. has seen significant developments regarding its novel cellular therapy, CT-0525. The therapy, designed for patients with tumors overexpressing HER2 who have not responded to existing treatments, has been granted Fast Track designation by the FDA. This status is expected to expedite the development and review process for CT-0525.
Analyst firm H.C. Wainwright has maintained a Buy rating for Carisma Therapeutics, reflecting confidence in the potential regulatory benefits that the Fast Track designation could bring to CT-0525's development timeline.
Meanwhile, Evercore ISI has adjusted its price target for the company to $4.00, maintaining an Outperform rating. BTIG has also initiated coverage on Carisma Therapeutics with a Buy rating.
InvestingPro Insights
As Carisma Therapeutics Inc. (NASDAQ:CARM) bolsters its Scientific Advisory Board with renowned experts, investors may be eyeing the financial health and market performance of the company. According to InvestingPro data, CARM has a market capitalization of approximately $36.97 million, indicating its size within the biopharmaceutical sector. Despite a challenging period, with the stock price near its 52-week low and a significant price drop over the last year, there are aspects of Carisma's financial position that could be interpreted as strengths.
InvestingPro Tips reveal that Carisma holds more cash than debt on its balance sheet and has liquid assets that exceed short-term obligations, suggesting a level of financial stability. However, the company is quickly burning through cash and analysts do not expect it to be profitable this year. Additionally, Carisma's gross profit margins have been weak, and the valuation implies a poor free cash flow yield. These factors, combined with the fact that the company is not profitable over the last twelve months and does not pay a dividend, may influence investor sentiment.
For those interested in a deeper dive into the company's prospects, there are numerous additional InvestingPro Tips available, providing a comprehensive analysis of Carisma's financial and market status. With a focus on enriching the understanding of Carisma's potential, these tips can be found on the InvestingPro platform.
Overall, while Carisma Therapeutics is making strides in scientific advancements with its new advisory appointments, the company's financial metrics and market performance present a mixed picture that investors will need to navigate carefully.
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