Cargo Therapeutics, Inc. announced that it has entered into a definitive merger agreement with Concentra Biosciences, LLC. Concentra will acquire Cargo for $4.379 in cash per share of Cargo common stock, plus a non-transferable contingent value right. This right includes potential additional payments consisting of 100% of the closing net cash of Cargo exceeding $217.5 million, and 80% of any net proceeds from the sale of certain Cargo product candidates within two years of the transaction closing. The Cargo board of directors has unanimously approved the merger as being in the best interests of all Cargo stockholders.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cargo Therapeutics Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9490561-en) on July 08, 2025, and is solely responsible for the information contained therein.