Company: RNAC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001453687-25-000120
Chunk: 24

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-11-06
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 September 30, 2025 and December 31, 2024; no shares issued and outstanding as of September 30, 2025 and December 31, 2024— — Common stock, $0.0001 par value; 350,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 26,003,606 and 25,767,369 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively3 3 Additional paid-in capital698,537 689,887 Accumulated deficit(729,797)(692,071)Accumulated other comprehensive loss(4,587)(4,621)Total stockholders’ deficit(35,844)(6,802)Total liabilities and stockholders’ deficit$372,675 $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 Loss

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

 Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Revenue:Collaboration and license revenue$— $— $400 $39,111 Grant revenue452 387 1,450 561 Total revenue452 387 1,850 39,672 Operating expenses:Research and development13,802 11,400 43,345 33,799 General and administrative7,716 6,562 23,271 23,039 Total operating expenses21,518 17,962 66,616 56,838 Operating loss(21,066)(17,575)(64,766)(17,166)Interest income1,548 2,573 5,311 4,932 Gain on change in fair value of warrant liabilities516 5,669 2,988 2,803 (Loss) gain on change in fair value of contingent value right liability(16,900)(15,100)18,746 (51,900)Loss on change in fair value of forward contract liabilities— — — (6,