04:06 PM EDT, 04/01/2024 (MT Newswires) -- Carisma Therapeutics ( CARM ) reported a Q4 net loss Monday of $0.52 per diluted share, narrower than a loss of $7.61 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.55.

Revenue for the quarter ended Dec. 31 was $4.3 million, up from $3.7 million a year earlier. Analysts surveyed by Capital IQ expected $2.9 million.

The company plans to reduce its workforce by about 37% in Q2 as part of its pipeline reprioritization and corporate restructuring.

Carisma shares fell 8% in recent trading on Monday.

Price: 2.09, Change: -0.18, Percent Change: -7.93