Company: RNAC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001453687-25-000099
Chunk: 134

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 134
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 For the six months ended June 30, 2025, the Company recognized no restructuring charges. For the six months ended June 30, 2024, the Company recognized $0.2 million in research and development expenses and $0.6 million in general and administrative expenses. Payments for the restructuring plan were completed in the first quarter of 2025. 

19. Segment Information

The following table presents selected financial information with respect to the Company’s single operating segment for the three and six months ended June 30, 2025 and 2024 (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Revenue:Collaboration and license revenue$— $33,271 400$39,111 Grant revenue298 174 998174 Total revenue298 33,445 1,39839,285 LessOperating expenses:Legacy Selecta programs— 3,570 —6,347 Descartes-08 for MG5,035 2,945 12,0714,211 Early stage programs1,715 528 2,705655 Research and development employee expenses4,254 2,184 7,9565,425 Research and development stock-based compensation expense1,810 776 3,0851,488 Research and development facilities and other expenses2,055 2,658 3,7264,273 General and administrative7,240 7,027 15,55516,477 Other (income) expense, net (1)(37,697)(79)45,09843,397 Net income (loss)$15,886 $13,836 (1,824)$(42,988)(1) Includes interest income; foreign currency transaction, net; change in fair value of warrant liabilities; change in fair value of contingent value right liability; change in fair value of forward contract liabilities; and other (expense) income, net.

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20. Subsequent Events

The Company has evaluated subsequent events through the date on which the consolidated financial statements were issued. The Company has concluded that no subsequent events have occurred that require disclosure.

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited consolidated financial statements and related notes appearing elsewhere in this Quarterly Report and with our