05:27 PM EDT, 03/31/2025 (MT Newswires) -- Carisma Therapeutics ( CARM ) said late Monday that its board approved a revised operating plan to evaluate alternatives while reducing operational cash burn.

The company said it has reduced its workforce, retaining only those deemed essential to "pursue strategic alternatives." It has cut operations to core functions necessary to support the strategic review.

With these actions, the company estimates it has enough cash and cash equivalents to fund operations into H2.