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CARM Pharmaceuticals, with a market capitalization of just $16 million, has seen its stock price touch a 52-week low, dipping to $0.35, as investors react to a challenging market environment. According to InvestingPro analysis, the company appears undervalued at current levels, with analyst price targets ranging from $1 to $12. The company, which has been navigating through a series of hurdles, including increased competition and regulatory pressures, has witnessed a significant decline over the past year. The stock’s current position marks a stark contrast to its performance over the last 12 months, with the 1-year change data reflecting a steep drop of -84.38%. This downturn has raised concerns among shareholders about the company’s future prospects and its ability to rebound in a volatile market. InvestingPro analysis reveals that while the company holds more cash than debt and maintains strong liquidity with a current ratio of 3.23, it’s quickly burning through cash - two of 11 key insights available to subscribers.
In other recent news, Carisma Therapeutics has received a notice from the Nasdaq Stock Market due to non-compliance with the exchange’s minimum bid price requirement. The company’s stock has been trading below the $1.00 minimum bid price for 38 consecutive business days, prompting the notice. Carisma Therapeutics has been given a 180-day period, ending on July 7, 2025, to regain compliance. If the company fails to meet this requirement, it may be eligible for an additional 180-day extension, which would involve transferring its listing to The Nasdaq Capital Market. In a separate development, Carisma Therapeutics announced the appointment of Natalie McAndrew as the interim Vice President of Finance. McAndrew will also serve as the principal financial officer and principal accounting officer. Her appointment is part of a master services agreement with Danforth Global, Inc., where McAndrew is a Senior Director. Carisma Therapeutics expects McAndrew’s extensive experience in the life sciences sector to enhance its financial strategy and operations.
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