24/7 Market News Snapshot 08 July, 2025 – CARGO Therapeutics, Inc. Common Stock (NASDAQ:CRGX)

July 8, 2025

DENVER, Colo., 08 July, 2025 (www.247marketnews.com) – (NASDAQ:CRGX) are discussed in this article.
CARGO Therapeutics, Inc. (“CARGO”) is experiencing significant momentum in the pre-market trading session, currently valued at $4.864, indicating a notable 10.80% increase from the previous closing price of $4.390. With a trading volume of 609.96K shares, this bullish trend is drawing strong investor interest and could signal the potential for further price appreciation. Analysts are observing key support around $4.39 and resistance levels near recent highs, emphasizing the importance of monitoring market sentiment and volume trends as sustained buying pressure may validate this upward trajectory, paving the way for higher price targets in the near future.

Concurrently, CARGO announced a definitive merger agreement with Concentra Biosciences, LLC (“Concentra”), representing a pivotal development in the company’s journey as a leader in CAR T-cell therapy. The agreement stipulates that Concentra will acquire CARGO for $4.379 in cash per share of CARGO’s common stock, along with a non-transferable contingent value right (CVR) linked to CARGO’s qualifying assets. Following a comprehensive strategic review, the CARGO board has endorsed this transaction as beneficial for shareholders.

The process will unfold with Concentra initiating a tender offer by July 21, 2025, with the goal of completing the acquisition by August 2025, contingent on the tender of a majority of shares and usual closing conditions. Notably, current CARGO officers, directors, and key shareholders, who collectively hold approximately 17.4% of outstanding shares, have endorsed the merger and committed to tendering their shares.

Leadership at CARGO has expressed optimism regarding the merger, which they believe aligns with their commitment to advancing innovative CAR T-cell therapies and enhancing patient care. As the integration progresses, stakeholders will receive updates on this landmark transaction and its potential implications for the future of CARGO and its development efforts.

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