Company: RNAC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001453687-25-000085
Chunk: 24

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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, 2024— — Preferred stock, $0.0001 par value; 9,427,168.437 shares authorized as of March 31, 2025 and December 31, 2024; no shares issued and outstanding as of March 31, 2025 and December 31, 2024— — Common stock, $0.0001 par value; 350,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 25,936,101 and 25,767,369 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively3 3 Additional paid-in capital692,578 689,887 Accumulated deficit(709,781)(692,071)Accumulated other comprehensive loss(4,589)(4,621)Total stockholders’ deficit(21,789)(6,802)Total liabilities, convertible preferred stock, and stockholders’ deficit$409,130 $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 EndedMarch 31, 20252024Revenue:Collaboration and license revenue$400 $5,840 Grant revenue700 — Total revenue1,100 5,840 Operating expenses:Research and development14,674 9,738 General and administrative8,315 9,450 Total operating expenses22,989 19,188 Operating loss(21,889)(13,348)Interest income2,015 1,164 Change in fair value of warrant liabilities1,818 1,042 Change in fair value of contingent value right liability346 (39,300)Change in fair value of forward contract liabilities— (6,890)Other income, net— 508 Net loss$(17,710)$(56,824)Other comprehensive loss:Foreign currency translation adjustment32 (5)Total comprehensive loss$(17,678)$(56,829)Net loss(17,710)(56,824)Net loss per share allocable to common stockholders:Basic and diluted$(0.68)$(10.50