Carisma Therapeutics Stock Doubles on Ocugen Merger Agreement
The strategic deal includes a $5 million investment from Ocugen, signaling confidence in the clinical-stage biopharmaceutical company.
Shares of Carisma Therapeutics (CARM) skyrocketed over 100% in a dramatic trading session following the announcement of a strategic merger. The company entered into a , a wholly owned subsidiary of Ocugen Inc. (OCGN), causing a surge in investor activity and exceptional trading volume.
Under the terms of the deal, OrthoCellix will merge with a Carisma subsidiary and continue as a wholly owned unit of Carisma. The agreement was reinforced by a concurrent from Ocugen into Carisma's common stock. This is part of an anticipated larger investment round expected to raise at least $25 million, providing a significant capital infusion for the company.
The market's reaction was immediate and substantial. The news , with turnover increasing by over 1,500% as the stock price more than doubled, climbing by 104.65%. The move signals strong investor optimism about the strategic rationale behind the merger, which aims to leverage OrthoCelix’s ophthalmic expertise and reflects Ocugen's confidence in Carisma's therapeutic pipeline.
Despite the powerful rally, the stock remains a high-risk, high-reward play characteristic of the volatile biotech sector. The transaction is still subject to customary closing conditions, including the approval of Carisma’s stockholders. Investors will be closely watching for further details on the integration and the company's ability to maintain its momentum following the merger's completion.