California-based CAR T-cell therapy company Cargo Therapeutics began trading on the Nasdaq Global Select Market on November 10, 2023, under the ticker symbol “CRGX.” It has priced its public offering of 18.75 million common shares at USD 15 per share, amounting to gross proceeds of USD 281.3 million.

The company has also granted a 30-day purchase option on an additional 2.8 million shares to underwriters at the same price less discounts and commissions. The offering window is expected to close on November 14, 2023.

The proceeds from the offering will be used to fund a Phase II clinical trial of its lead candidate, CRG-022, for the treatment of large B-cell lymphoma.