Company: RNAC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001453687-25-000085
Chunk: 27

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 integral part of these unaudited consolidated financial statements.

8

Cartesian Therapeutics, Inc. and Subsidiaries 

Consolidated Statements of Cash Flows

(Amounts in thousands)

 Three Months EndedMarch 31,20252024Cash flows from operating activitiesNet loss$(17,710)$(56,824)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization1,156 183 Non-cash lease expense184 512 Loss on disposal of property and equipment— 2 Stock-based compensation expense2,508 1,431 Warrant liabilities revaluation(1,818)(1,042)Contingent value right liability revaluation(346)39,300 Forward contract liabilities revaluation— 6,890 Changes in operating assets and liabilities:Accounts receivable(893)3,864 Unbilled receivable— 611 Prepaid expenses, deposits and other assets(5,830)1,652 Accounts payable1,819 (633)Deferred revenue— (5,437)Accrued expenses and other liabilities(2,178)(6,426)                    Net cash used in operating activities(23,108)(15,917)Cash flows from investing activitiesPurchases of property and equipment(1,075)(602)                    Net cash used in investing activities(1,075)(602)Cash flows from financing activitiesEquity offering costs(454)— Proceeds from exercise of common warrants— 2,877 Proceeds from issuance of Series A Preferred Stock, gross in private placement— 40,000 Proceeds from exercise of stock options183 154 Payments of contingent value rights distributions(7,754)—                     Net cash (used in) provided by financing activities(8,025)43,031 Effect of exchange rate changes on cash32 (5)Net change in cash, cash equivalents, and restricted cash(32,176)26,507 Cash, cash equivalents, and restricted cash at beginning of period214,279 78,288 Cash, cash equivalents, and restricted cash at end of period$182,103 $104,795 Non-cash investing and financing activitiesPurchase of property and equipment not yet paid$535 $— 

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

9

Cartesian Therapeutics, Inc. and