PHILADELPHIA – Carisma Therapeutics Inc. (NASDAQ: CARM), a biopharmaceutical firm specializing in immunotherapies, has appointed Eugene P. Kennedy, M.D., F.A.C.S., as its new Chief Medical Officer. Dr. Kennedy, an business veteran with over 15 years of expertise in scientific improvement, notably in oncology and immuno-oncology, will oversee the corporate’s scientific, regulatory, and medical affairs.
Steven Kelly, President and CEO of Carisma, expressed enthusiasm for Dr. Kennedy’s addition to the staff, citing his intensive expertise in oncology and stable tumor scientific trials. Dr. Kennedy’s function is predicted to reinforce Carisma’s scientific applications and contribute to the event of progressive remedies for sufferers.
Dr. Kennedy shared his pleasure about becoming a member of Carisma, highlighting the corporate’s developments in engineered macrophages and the potential to affect affected person care considerably. His profession has been marked by a dedication to exploring new therapy modalities and advancing affected person outcomes.
Previous to Carisma, Dr. Kennedy held the place of Chief Medical Officer at Galera Therapeutics (NASDAQ:), the place he led the event of most cancers radiotherapy. He has additionally served in comparable capacities at Modern Mobile Therapeutics, the place he was instrumental within the improvement of a Part 1 scientific protocol for a stable tumor CAR T-cell remedy, and at Lumos Pharma (NASDAQ:), specializing in scientific improvement technique.
Dr. Kennedy’s tutorial background consists of roles at Thomas Jefferson College, Johns Hopkins Hospital, and Louisiana State College. He earned his bachelor’s diploma from the College of Virginia and his medical diploma from the Medical School of Virginia.
Carisma Therapeutics, based mostly in Philadelphia, is advancing its proprietary cell remedy platform, which focuses on engineered macrophages and monocytes, key parts of the immune system. The corporate’s pipeline consists of therapies aimed toward treating most cancers and different critical illnesses.
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This announcement relies on a press launch assertion from Carisma Therapeutics Inc.
InvestingPro Insights
As Carisma Therapeutics Inc. (NASDAQ: CARM) welcomes Dr. Eugene P. Kennedy as its new Chief Medical Officer, the corporate’s monetary well being and market efficiency stay key elements for traders monitoring the biopharmaceutical sector. In keeping with the most recent InvestingPro information, Carisma has a market capitalization of $67.71 million and has skilled substantial income progress during the last twelve months as of This fall 2023, with a rise of 51.71%. Regardless of these positive aspects, the corporate’s gross revenue margins are deeply adverse, recorded at -396.85% for a similar interval.
InvestingPro Ideas counsel that Carisma holds extra cash than debt on its stability sheet and has excessive shareholder yield, which might be seen as constructive indicators of monetary stability and a dedication to returning worth to shareholders. Nevertheless, the corporate isn’t anticipated to be worthwhile this 12 months, and analysts have highlighted Carisma’s speedy money burn and weak gross revenue margins. With the inventory buying and selling close to its 52-week low and having taken important hits during the last six months, traders might train warning.
For these in search of a extra complete evaluation, InvestingPro provides extra insights, together with a complete of 13 InvestingPro Ideas for Carisma Therapeutics, which will be accessed by way of the devoted InvestingPro platform. readers can use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Professional and Professional+ subscription, probably aiding in making extra knowledgeable funding selections.
With the following earnings date approaching on Could 9, 2024, traders and analysts alike will likely be carefully watching Carisma’s efficiency, notably within the context of Dr. Kennedy’s strategic affect on the corporate’s scientific and regulatory pathways.
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