Company: RNAC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001453687-25-000099
Chunk: 83

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 83
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3SBio. We may be obligated to make certain future payments which are contingent upon future events such as our achievement of specified regulatory and commercial milestones, or royalties on net product sales under these agreements. As of June 30, 2025, we were unable to estimate the timing or likelihood of achieving these milestones or generating future product sales. Payments made and remaining obligations on the license agreement with 3SBio are subject to potential reimbursement through deductions to CVR distributions as described in Note 7 to our unaudited consolidated financial statements included elsewhere in this Quarterly Report. 

Summary of Cash Flows

 Six Months EndedJune 30,(In thousands)20252024Cash (used in) provided by:Operating activities$(40,629)$(30,363)Investing activities(3,670)(2,189)Financing activities(7,965)43,151 Effect of exchange rate changes on cash44 9 Net change in cash, cash equivalents, and restricted cash$(52,220)$10,608 

Operating activities

Net cash used in operating activities for the six months ended June 30, 2025 was $40.6 million compared to $30.4 million for the six months ended June 30, 2024. The increase in cash used in operating activities of $10.2 million was primarily due to $32.0 million of net loss, adjusted for non-cash items, and $8.6 million of cash used in changes in operating assets and liabilities, in each case during the six months ended June 30, 2025 compared to $8.1 million of net loss, adjusted for non-cash items, and $38.5 million of cash used in changes in operating assets and liabilities during the six months ended June 30, 2024.

Investing activities

Net cash used in investing activities for the six months ended June 30, 2025 was $3.7 million compared to $2.2 million in the same period in 2024, a decrease of $1.5 million. The net cash used in investing activities for the six months ended June 30, 2025 and 2024 consisted primarily of purchases of property and equipment. 

Financing activities

Net cash used in financing activities for the six months ended June 30, 2025 was $8.0 million compared to net cash provided by financing activities of $43.2 million for the six months ended June 30, 2024