In September 2022, Carisma Therapeutics entered a plan of merger with Sesen Bio, Inc. whereby Carisma would ultimately own the majority of Sesen Bio’s common stock and control the company’s forward-looking research and development initiatives.

Stout was engaged on multiple fronts to assist with all technical accounting associated with the reverse merger, drafting of historical financial statements of Carisma to be included in the S-4 registration statement filed with the SEC, and drafting of the combined pro forma financial statements.

Following the merger, Stout continued to provide financial statement preparation support as well as tax provision compliance assistance.