Company: RNAC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001453687-25-000120
Chunk: 29

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 Reverse Stock Split, all figures in this Quarterly Report on Form 10-Q 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, reflect the Reverse Stock Split for all periods presented.

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)

 Nine Months EndedSeptember 30,20252024Cash flows from operating activitiesNet loss$(37,726)$(67,171)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization2,351 665 Non-cash lease expense563 1,766 Loss on disposal of property and equipment— 2 Stock-based compensation expense8,377 4,717 Gain on change in fair value of warrant liabilities(2,988)(2,803)(Gain) loss on change in fair value of contingent value right liability(18,746)51,900 Loss on change in fair value of forward contract liabilities— 6,890 Changes in operating assets and liabilities:Accounts receivable150 1,041 Unbilled receivable— 2,001 Prepaid expenses, deposits and other assets(5,562)763 Accounts payable1,999 (2,690)Deferred revenue— (5,849)Accrued expenses and other liabilities(4,647)(7,904)Net cash used in operating activities(56,229)(16,672)Cash flows from investing activitiesPurchases of property and equipment(4,962)(8,388)Net cash used in investing activities(4,962)(8,388)Cash flows from financing activitiesEquity offering costs(522)— Proceeds from exercise of common warrants— 2,877 Proceeds from issuance of Series A Preferred Stock, gross in private placement— 40,000 Net proceeds from issuance of common stock and Series B Preferred Stock in private placement— 124,438 Proceeds from exercise of stock options273 330 Payments of contingent value rights distributions(7,754)— Net cash (used in) provided by financing activities(8,003)167,645 Effect of exchange rate changes on cash34 (6)Net change in cash, cash