Carisma Therapeutics Plans to Delist from Nasdaq and End SEC Reporting Obligations

Carisma Therapeutics Announces Delisting from Nasdaq

In an official statement released on December 5, 2025, Carisma Therapeutics Inc. (OTCID: CARM) announced that its Board of Directors voted to voluntarily delist the company's common stock from The Nasdaq Stock Market. This is a significant decision aimed at suspending and ultimately terminating its obligations under the Securities and Exchange Act of 1934.

The journey leading to this announcement was not sudden. Previously, Carisma faced challenges rooted in its noncompliance with Nasdaq's listing rules regarding bid price, market value of listed securities, and market value of publicly held shares. On October 9, 2025, Nasdaq communicated a delisting determination letter to Carisma, which led to the suspension of trading for its common stock, effective from October 13, 2025. At that point, shares began trading in the OTC Markets under the symbol "CARM".

Instead of waiting for Nasdaq to file a Form 25 to formalize the delisting process, Carisma opted to act swiftly. According to their statement, the decision was taken after carefully considering various factors, including the receipt of the determination letter and the desire for an orderly wind-down of operations. They now plan to file a Form 25 around December 15, 2025, which will facilitate their shift away from Nasdaq and the SEC.

Moreover, after the delisting from Nasdaq, Carisma intends to submit a Form 15 to cease its reporting duties under the Exchange Act. Once this measure is enacted, the company will be relieved of all reporting responsibilities, further simplifying its operational framework.

The company's strategic moves appear to be focused not just on compliance but also on safeguarding its cash position during this transition. This is critical for ensuring that the wind-down of operations proceeds smoothly, protecting stakeholders' interests in the process. The firm plans to maintain transparency throughout this transition, as the documents filed with the SEC will be available for public access via Carisma's website.

As Carisma embarks on this new chapter, implications for its future remain uncertain. The company previously specialized in macrophage engineering aimed at developing novel therapies for severe diseases such as liver fibrosis and cancer. However, stakeholders will need to observe how this delisting affects not only the status of the company but also its overall strategy moving forward.

Carisma Therapeutics stands at a crossroad, facing unique challenges that prompt a re-evaluation of its operational strategy and market engagements. The timeline of these events highlights a company in transition, which underscores the importance of proactive decision-making in navigating the complex landscape of biotechnology and financial markets.

In closing, company officials express optimism about the forthcoming changes, emphasizing their commitment to preserving value for stakeholders during what is anticipated to be a transformative phase for Carisma Therapeutics. The full extent of these changes will unfold in the coming months, as the company tackles the challenges that lie ahead with a focus on strategic execution and resource management.