RNAC Cartesian Therapeutics, Inc.
Debt Financing ·
Cartesian drew $50.0 million at closing under a senior secured loan that can reach $150.0 million, with the lenders able to convert up to $15.0 million into common stock at $8.2526 a share. The loan carries a minimum cash covenant starting April 1, 2027, and the 8-K does not name the individual lenders.
The loans carry a variable rate of at least 8.95% and mature on June 1, 2030. Only the first $50.0 million was funded at closing, and the two later tranches depend on milestones.
Cartesian Therapeutics is a late clinical-stage biotechnology company developing cell therapy for autoimmune diseases. It uses a proprietary technology and manufacturing platform that introduces mRNA into cells, which the company says degrades naturally and does not integrate into the cell's genetic material. Its lead cell therapy product candidate, Descartes-08, is an autologous CAR-T product targeting B-cell maturation antigen (BCMA). The company is developing Descartes-08 for generalized myasthenia gravis (MG) and for myositis, specifically moderate to severe multi-refractory dermatomyositis and antisynthetase syndrome. The Phase 3 AURORA trial is pursuing the acetylcholine receptor autoantibody positive (AChR+) subtype of MG. Descartes-08 has Orphan Drug Designation and Regenerative Medicine Advanced Therapy (RMAT) Designation from the FDA for MG, and Rare Pediatric Disease Designation for juvenile dermatomyositis. The company says its CAR-T administration has been observed to provide deep and durable benefits through 12 months and is designed not to require preconditioning chemotherapy. The company was formerly known as Selecta Biosciences, and it is headquartered in Frederick, Maryland.
| Product or program | What it is | Stage |
|---|---|---|
| Descartes-08 in generalized myasthenia gravis | Autologous BCMA-targeting mRNA CAR-T product for AChR+ generalized myasthenia gravis | Phase 3 AURORA trial |
| Descartes-08 in myositis | Autologous BCMA-targeting CAR-T for moderate to severe multi-refractory dermatomyositis and antisynthetase syndrome | Clinical development |
| Line | FY2025 | FY2024 |
|---|---|---|
| Revenue | $2.8 million | $38.9 million |
| Research and development | $58.0 million | $45.1 million |
| Net income (loss) | -$130.3 million | -$77.4 million |
| Cash from operations | -$73.9 million | -$23.7 million |
| Cash and equivalents | $125.1 million | $212.6 million |
Cartesian Therapeutics, Inc. trades under the ticker RNAC on NASDAQ.
Cartesian Therapeutics, Inc. is listed on NASDAQ. Our directory also records these other listings: GETTEX:1S70.
The SEC Central Index Key (CIK) for Cartesian Therapeutics, Inc. is 1453687. Its filings are on SEC EDGAR.
30,255,352 shares as of 2026-07-31, per the cover page of its 10-Q filed 2026-08-06.
Our directory records Cartesian Therapeutics, Inc. under United States.
Our directory classifies Cartesian Therapeutics, Inc. as: Biotechnology. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Cartesian Therapeutics, Inc. is US8162123025.
aibio.space lists Cartesian Therapeutics, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as DE.
Cartesian Therapeutics is a late clinical-stage biotechnology company developing cell therapy for autoimmune diseases. It uses a proprietary technology and manufacturing platform that introduces mRNA into cells, which the company says degrades naturally and does not integrate into the cell's genetic material.
Descartes-08 in generalized myasthenia gravis: Autologous BCMA-targeting mRNA CAR-T product for AChR+ generalized myasthenia gravis Stage: Phase 3 AURORA trial.
Descartes-08 in myositis: Autologous BCMA-targeting CAR-T for moderate to severe multi-refractory dermatomyositis and antisynthetase syndrome Stage: Clinical development.
$2.8 million for the fiscal year ended Dec 31, 2025, as reported to the SEC.
Cartesian Therapeutics, Inc. reported a net loss of $130.3 million for the fiscal year ended Dec 31, 2025, and used $73.9 million of cash in operations, per its annual report to the SEC.
$58.0 million in the fiscal year ended Dec 31, 2025, per its annual report.
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