Company: RNAC
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001453687-25-000060
Chunk: 18

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 18
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 — (77,424)— (77,424)Balance at December 31, 2024— $— $— 120,790.402 $— 437,927 $— 25,767,369 $3 $689,887 $(692,071)$(4,621)$(6,802)

On April 4, 2024, the Company effected a 1-for-30 reverse split of its issued and outstanding shares of common stock, or the Reverse Stock Split. As a result of the Reverse Stock Split, all figures in this Annual Report on Form 10-K relating to shares of the Company’s common stock (such as share amounts, per share amounts, and conversion rates and prices), including but not limited to, the consolidated financial statements and footnotes included herein, have been adjusted to reflect the Reverse Stock Split for all periods presented.

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

F-6

Cartesian Therapeutics, Inc. and Subsidiaries 

Consolidated Statements of Cash Flows

 Year Ended December 31,20242023Cash flows from operating activities    (Amounts in thousands)Net loss$(77,424)$(219,710)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization1,151 843 Amortization of premiums and discounts on marketable securities— (79)Non-cash lease expense2,437 1,754 Impairment of long-lived assets7,579 710 Loss on disposal of property and equipment273 477 Stock-based compensation expense6,582 22,524 Non-cash interest expense— 455 Warrant liabilities revaluation(2,558)(12,746)Contingent value right liability revaluation36,900 18,300 Forward contract liabilities revaluation6,890 149,600 Loss on extinguishment of debt— 740 Provision (benefit) for deferred taxes287 (19,000)Changes in operating assets and liabilities:  Accounts receivable4,998 726 Unbilled receivable2,981 181 Prepaid expenses, deposits and other assets1,747 (1,265)Accounts payable(2,927)2,834 Deferred revenue(5,849)5,256 Accrued expenses and other liabilities(6,741)(