Company: RNAC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001453687-25-000120
Chunk: 107

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 107
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 significant to Cyrus, and therefore it is not required to consolidate Cyrus. The Company has recognized the $2.0 million investment of Cyrus’ Series B Preferred Stock at cost on the purchase date.During the nine months ended September 30, 2025 and the year ended December 31, 2024, there were no observable price changes. Therefore, the carrying value of the investment in Cyrus is $2.0 million on the accompanying consolidated balance sheets. The Company’s maximum exposure to loss related to this variable interest entity is limited to the carrying value of the investment. The Company has not provided financing to Cyrus other than the amount contractually required by the Series B Preferred Stock Purchase Agreement.

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6. Net Loss Per Share Allocable to Common Stockholders

The following table sets forth the computation of basic and diluted net loss per share allocable to common stockholders for the three and nine months ended September 30, 2025 and 2024 (in thousands, except share and per-share data): Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Numerator:Net loss$(35,902)$(24,183)$(37,726)$(67,171)Denominator:Weighted-average common shares outstanding - basic and diluted26,002,892 21,471,408 25,962,302 14,561,613 Net loss per share allocable to common stockholders:Basic and diluted$(1.38)$(1.13)$(1.45)$(4.61)The following table represents the potential dilutive shares of common stock excluded from the computation of the diluted net loss per share allocable to common stockholders for all periods presented, as the effect would have been anti-dilutive:  Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Common stock options and restricted stock units2,956,910 2,420,400 2,956,910 2,420,400 Warrants to purchase common stock692,523 974,954 692,523 974,954 Series A Preferred Stock4,026,346 5,544,719 4,026,346 5,544,719 Series B Preferred Stock437,927 437,927 437,927 437,927 Total8,113,706 9,378,000 8,113,706 9