Company: RNAC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001453687-25-000099
Chunk: 55

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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16.89 $20.14 The expected term of the Company’s stock options granted has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. Under the simplified method, the expected term is presumed to be the midpoint between the vesting date and the end of the contractual term. The Company utilizes this method due to lack of historical exercise data and the plain nature of its stock-based awards. Expected volatilities are based on the Company’s historical volatility.The weighted-average grant date fair value of stock options granted during the three months ended June 30, 2025 and 2024 was $9.32 and $17.40, respectively, and $13.56 and $16.05 during the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, total unrecognized compensation expense related to unvested common stock options was $15.6 million, which is expected to be recognized over a weighted average period of 3.0 years.The following table summarizes the stock option activity under the 2016 Plan, the 2018 Inducement Incentive Award Plan, and the Old Cartesian Plan for options for common stock:   Weighted-average  Number ofremainingAggregate common stockWeighted-averagecontractual termintrinsic value optionsexercise price ($)(in years)(in thousands)Outstanding at December 31, 20241,706,035 $11.99 7.59$12,025 Granted1,049,959 $16.89   Exercised(81,380)$3.29   Forfeited(177,892)$18.41   Outstanding at June 30, 20252,496,722 $13.88 7.59$5,219 Vested at June 30, 2025837,630 $7.47 5.03$4,638 Vested and expected to vest at June 30, 20252,208,574 $13.39 7.50$5,216 Restricted Stock UnitsDuring the six months ended June 30, 2025, the Company granted 256,790 restricted stock unit awards with a weighted-average fair value of $16.93 per share based on the closing price of the Company’s common stock on the date of grant under the 201