Carisma Therapeutics Files 8-K: Board, Officer, and Compensation Updates
Ticker: CARM · Form: 8-K · Filed: Dec 26, 2024 · CIK: 1485003
Sentiment: neutral
Topics: corporate-governance, officer-changes, board-changes
TL;DR
Carisma Therapeutics (CARM) filed an 8-K detailing board/officer changes and compensation. Keep an eye on leadership moves.
AI Summary
Carisma Therapeutics Inc. filed an 8-K on December 26, 2024, reporting changes related to its board of directors and officers, as well as compensatory arrangements. The filing also includes financial statements and exhibits. The company, formerly known as Sesen Bio, Inc. and Eleven Biotherapeutics, Inc., is incorporated in Delaware and based in Philadelphia, PA.
Why It Matters
This filing indicates potential shifts in the company's leadership and executive compensation structure, which could signal strategic changes or governance adjustments.
Risk Assessment
Risk Level: low — The filing is a routine corporate disclosure regarding board and officer changes, not indicating immediate financial distress or significant operational shifts.
Key Players & Entities
- Carisma Therapeutics Inc. (company) — Registrant
- Sesen Bio, Inc. (company) — Former Company Name
- Eleven Biotherapeutics, Inc. (company) — Former Company Name
- Delaware (jurisdiction) — State of Incorporation
- Philadelphia, PA (location) — Business Address
FAQ
What specific changes were made to the board of directors or officers?
The filing indicates updates regarding the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' but does not detail the specific individuals or changes within this provided text.
What is the nature of the compensatory arrangements being reported?
The filing mentions 'Compensatory Arrangements of Certain Officers' but the specific details of these arrangements are not provided in the excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on December 24, 2024.
What is Carisma Therapeutics Inc.'s SIC code?
Carisma Therapeutics Inc.'s Standard Industrial Classification (SIC) code is 2834, for Pharmaceutical Preparations.
What were Carisma Therapeutics Inc.'s former names?
Carisma Therapeutics Inc. was formerly known as Sesen Bio, Inc. (name change on 20180516) and Eleven Biotherapeutics, Inc. (name change on 20100223).
Filing Stats: 857 words · 3 min read · ~3 pages · Grade level 10.8 · Accepted 2024-12-26 16:01:47
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value CARM The Nasdaq Stock Mar
Filing Documents
- tm2432018d1_8k.htm (8-K) — 28KB
- tm2432018d1_ex10-1.htm (EX-10.1) — 82KB
- 0001104659-24-131705.txt ( ) — 303KB
- carm-20241224.xsd (EX-101.SCH) — 3KB
- carm-20241224_lab.xml (EX-101.LAB) — 33KB
- carm-20241224_pre.xml (EX-101.PRE) — 22KB
- tm2432018d1_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers; Election
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 24, 2024, Carisma Therapeutics Inc. (the "Company") entered into a master services agreement (the "Services Agreement") with Danforth Global, Inc. and Danforth Advisors, LLC (collectively, "Danforth"), pursuant to which Danforth will provide finance and accounting services to be provided to the Company by Natalie McAndrew, a Senior Director of Danforth. The Company will pay Danforth an agreed upon hourly rate for such services and will reimburse Danforth for expenses. The Services Agreement may be terminated by the Company or Danforth with cause, upon 30 days prior written notice, and without cause, upon 60 days prior written notice. The Board of Directors of the Company has appointed Ms. McAndrew as the interim Vice President of Finance, effective as of January 1, 2025. In connection with her appointment, Ms. McAndrew will serve as the Company's principal financial officer and principal accounting officer. Ms. McAndrew, age 50, is currently a Senior Director with Danforth, an advisory firm focused on providing financial strategy to life science organizations and has served in that capacity since December 2024. She previously served as a Director with Danforth from August 2021 until January 2024. Prior to rejoining Danforth in December 2024, Ms. McAndrew was the VP, Finance of Apertura Gene Therapy, a gene therapy company, from February 2024 through October 2024. Through Danforth, Ms. McAndrew served as the interim Chief Financial Officer of Baudax Bio, Inc., a biotechnology company, from October 2023 to January 2024. Prior to her initial employment with Danforth, Ms. McAndrew was the VP, Corporate Controller of Tmunity Therapeutics, Inc., a biotechnology company, from January 2021 to July 2021. Ms. McAndrew previously served as Head of Accounting Operations at Spark Therapeutics, Inc., a biotech
(a) of Regulation S-K
Item 404(a) of Regulation S-K. The foregoing description of the Services Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of such agreement, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.
01 Financial
Item 9.01 Financial (d) Exhibits. Exhibit No. Description 10.1 Master Services Agreement, dated December 24, 2024, by and between the Company and Danforth Global, Inc. and Danforth Advisors, LLC 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARISMA THERAPEUTICS INC. Date: December 26, 2024 By: /s/ Steven Kelly Steven Kelly President and Chief Executive Officer