Cartesian Therapeutics Announces New Employment Inducement Grants

Rhea-AI Summary

Cartesian Therapeutics (NASDAQ: RNAC) has granted inducement awards to five new employees on February 3, 2025. The awards consist of options to purchase a total of 168,360 shares of company common stock at an exercise price of $19.89 per share, matching the closing price on Nasdaq Global Market on the grant date.

The options were issued under the Company's Amended and Restated 2018 Employment Inducement Incentive Award Plan and received board approval. The vesting schedule includes 25% vesting on February 3, 2026, followed by three equal annual installments, achieving full vesting by February 3, 2029. The options have a ten-year term and were granted under Nasdaq Listing Rule 5635(c)(4).

FREDERICK, Md., Feb. 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 inducement awards to five new employees. On February 3, 2025, the Company issued to these employees options to purchase an aggregate of 168,360 shares of the Company’s common stock with an exercise price of $19.89, the closing trading price of the Company’s common stock on the Nasdaq Global Market on the date of grant. The options were granted pursuant to the Company’s Amended and Restated 2018 Employment Inducement Incentive Award Plan and were approved by the Company’s board of directors. The option vests as to 25% on February 3, 2026, and then in three equal annual installments thereafter such that the options will be fully vested on February 3, 2029. The options have a ten-year term. The options were granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to the employees’ 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

How many shares are included in Cartesian Therapeutics (RNAC) February 2025 employee inducement grants?

Cartesian Therapeutics granted options to purchase 168,360 shares of common stock to five new employees.

What is the exercise price for RNAC's February 2025 inducement stock options?

The exercise price for the inducement stock options is $19.89, which was the closing price of RNAC's common stock on Nasdaq Global Market on the grant date.

What is the vesting schedule for RNAC's February 2025 inducement stock options?

The options vest 25% on February 3, 2026, followed by three equal annual installments, becoming fully vested on February 3, 2029.

How long is the term of RNAC's February 2025 inducement stock options?

The inducement stock options have a ten-year term.