Company: RNAC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001453687-25-000099
Chunk: 28

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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— 120 — — 120 Equity offering costs— — — — — — — — — (219)— — (219)Stock-based compensation expense— — — — — — — — — 1,591 — — 1,591 Currency translation adjustment— — — — — — — — — — — 14 14 Net income— — — — — — — — — — 13,836 — 13,836 Balance at June 30, 2024— $— $— 166,341.592 $— — $— 17,816,238 $2 $560,766 $(657,635)$(4,591)$(101,458)

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

8

Cartesian Therapeutics, Inc. and Subsidiaries 

Consolidated Statements of Cash Flows

(Amounts in thousands)

 Six Months EndedJune 30,20252024Cash flows from operating activitiesNet loss$(1,824)$(42,988)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization1,745 379 Non-cash lease expense371 1,113 Loss on disposal of property and equipment— 2 Stock-based compensation expense5,787 3,022 Warrant liabilities revaluation(2,472)2,866 Contingent value right liability revaluation(35,646)36,800 Forward contract liabilities revaluation— 6,890 Changes in operating assets and liabilities:Accounts receivable518 (26,169)Unbilled receivable— (491)Prepaid expenses, deposits and other assets(5,124)2,848 Accounts payable231 (290)Deferred revenue— (5,849)Accrued expenses and other liabilities(4,215)(8,496)                    Net cash used in operating activities(40,629)(30,363)Cash flows from investing activitiesPurchases of property and equipment(3,670)(2,189)                    Net cash used in investing activities(3,670)(2,189)Cash flows from financing activities