Cargo Therapeutics was acquired by Concentra Biosciences, LLC through a structured tender offer and subsequent merger transaction. Under the terms of the acquisition agreement, Concentra acquired all outstanding shares of Cargo common stock for a cash payment combined with a non-transferable contingent value right (CVR) tied to future net cash milestones and potential product disposition proceeds. This transaction resulted in Cargo becoming a wholly owned subsidiary and being delisted from the Nasdaq stock exchange.