Company: RNAC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001453687-25-000120
Chunk: 23

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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Item 1. Financial Statements (unaudited)

Cartesian Therapeutics, Inc. and Subsidiaries

Consolidated Balance Sheets

(Amounts in thousands, except share data and par value)

 September 30,December 31, 20252024Assets  Current assets:  Cash and cash equivalents$143,384 $212,610 Accounts receivable722 872 Prepaid expenses and other current assets3,154 3,144 Total current assets147,260 216,626 Non-current assets:Property and equipment, net12,394 9,912 Right-of-use assets, net4,972 5,535 In-process research and development assets150,600 150,600 Goodwill48,163 48,163 Long-term restricted cash1,735 1,669 Investments2,000 2,000 Long-term prepaid expenses and other assets5,551 518 Total assets$372,675 $435,023 Liabilities and stockholders’ deficit  Current liabilities:  Accounts payable$2,225 $288 Accrued expenses and other current liabilities7,702 12,076 Lease liabilities3,876 2,851 Contingent value right liability— 7,761 Total current liabilities13,803 22,976 Non-current liabilities:Lease liabilities, net of current portion8,727 11,133 Warrant liability848 3,836 Contingent value right liability, net of current portion369,000 387,739 Deferred tax liabilities, net16,141 16,141 Total liabilities408,519 441,825 Commitments and contingencies (Note 17)Stockholders’ deficit:  Series A Preferred Stock, $0.0001 par value; 134,904.563 shares authorized as of September 30, 2025 and December 31, 2024; 120,790.402 shares issued and outstanding as of September 30, 2025 and December 31, 2024— — Series B Preferred Stock, $0.0001 par value; 437,927 shares authorized as of September 30, 2025 and December 31, 2024; 437,927 shares issued and outstanding as of September 30, 2025 and December 31, 2024— — Preferred