Cartesian Therapeutics Announces New Employment Inducement Grant

Rhea-AI Summary

Cartesian Therapeutics (NASDAQ: RNAC), a clinical-stage biotechnology company focused on mRNA cell therapies for autoimmune diseases, has granted an employment inducement award to a new employee. The award consists of an option to purchase 2,650 shares of company common stock at an exercise price of $17.50 per share, matching the closing price on Nasdaq Global Market on the grant date of March 3, 2025.

The option was issued under the Company's Amended and Restated 2018 Employment Inducement Incentive Award Plan and follows Nasdaq Listing Rule 5635(c)(4). The vesting schedule includes 25% vesting on March 3, 2026, followed by three equal annual installments, achieving full vesting by March 3, 2029. The option carries a ten-year term.

FREDERICK, Md., March 06, 2025 (GLOBE NEWSWIRE) -- Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a clinical-stage biotechnology company pioneering mRNA cell therapies for the treatment of autoimmune diseases, today announced the granting of an inducement award to one new employee. On March 3, 2025, the Company issued to this employee an option to purchase 2,650 shares of the Company’s common stock with an exercise price of $17.50, the closing trading price of the Company’s common stock on the Nasdaq Global Market on the date of grant. The option was granted pursuant to the Company’s Amended and Restated 2018 Employment Inducement Incentive Award Plan and was approved by the Company’s board of directors. The option vests as to 25% on March 3, 2026, and then in three equal annual installments thereafter such that the option will be fully vested on March 3, 2029. The option has a ten-year term. The option was granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to the employee’s entry into employment with the Company.

About Cartesian Therapeutics

Cartesian Therapeutics is a clinical-stage company pioneering mRNA cell therapies for the treatment of autoimmune diseases. The Company’s lead asset, Descartes-08, is an mRNA CAR-T in Phase 2b clinical development for patients with generalized myasthenia gravis and Phase 2 development for systemic lupus erythematosus, with a Phase 2 basket trial planned in additional autoimmune indications. The Company’s clinical-stage pipeline also includes Descartes-15, a next-generation, autologous anti-BCMA mRNA CAR-T. For more information, please visit www.cartesiantherapeutics.com or follow the Company on LinkedIn or X, formerly known as Twitter.

Contact Information:
Investor Contact:
Megan LeDuc
Associate Director, Investor Relations
megan.leduc@cartesiantx.com

Media Contact:
David Rosen
Argot Partners
david.rosen@argotpartners.com

FAQ

What are the key terms of RNAC's new employee stock option grant?

The grant includes 2,650 shares at $17.50 per share, with 25% vesting after one year and the remainder vesting in three annual installments until March 2029.

When will the RNAC employee stock options fully vest?

The stock options will fully vest on March 3, 2029, following a four-year vesting schedule.

What is the exercise price for RNAC's new employee stock options?

The exercise price is $17.50 per share, matching RNAC's closing price on Nasdaq Global Market on March 3, 2025.

How long is the term of RNAC's newly granted employee stock options?

The stock options have a ten-year term.