Company: RNAC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001453687-25-000099
Chunk: 24

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 stock, $0.0001 par value; 9,427,168.437 shares authorized as of June 30, 2025 and December 31, 2024; no shares issued and outstanding as of June 30, 2025 and December 31, 2024— — Common stock, $0.0001 par value; 350,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 26,000,065 and 25,767,369 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively3 3 Additional paid-in capital695,942 689,887 Accumulated deficit(693,895)(692,071)Accumulated other comprehensive loss(4,577)(4,621)Total stockholders’ deficit(2,527)(6,802)Total liabilities and stockholders’ deficit$388,893 $435,023 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

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Table of Contents

Cartesian Therapeutics, Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income (Loss)

(Amounts in thousands, except share and per share data)

 Three Months EndedJune 30,Six Months EndedJune 30, 2025202420252024Revenue:Collaboration and license revenue$— $33,271 $400 $39,111 Grant revenue298 174 998 174 Total revenue298 33,445 1,398 39,285 Operating expenses:Research and development14,869 12,661 29,543 22,399 General and administrative7,240 7,027 15,555 16,477 Total operating expenses22,109 19,688 45,098 38,876 Operating (loss) income(21,811)13,757 (43,700)409 Interest income1,748 1,195 3,763 2,359 Change in fair value of warrant liabilities654 (3,908)2,472 (2,866)Change in fair value of contingent value right liability35,300 2,500 35,646 (36,800)Change in fair value of forward contract liabilities— — — (6,890)