“In connection with the Company’s review of strategic options, the Board has concluded that it is in the best interests of shareholders to cease development operations,” said John Orwin, Chairman of the Board. “We are grateful for the contributions of those who will be leaving CARGO as a result of the decision to discontinue development of our remaining pipeline assets. Our priority moving forward is to maximize value for shareholders while aiming to find a permanent home for our remaining assets for the benefit of patients, and to do both in an expeditious manner.”