Cartesian SEC Filings

Cartesian Therapeutics entered a strategic licensing agreement with WestGene Biopharma to develop novel in vivo CAR-T therapies for autoimmune diseases. The collaboration combines Cartesian’s mRNA payload from Descartes-08 with WestGene’s targeted lipid nanoparticle platform.

WestGene’s in vivo mRNA CAR-T platform has early clinical data showing favorable safety, including repeated dosing of up to 14 infusions in a single patient with only one Grade 1 cytokine release syndrome event reported. The partners plan a Phase 1 dose-escalation study in generalized myasthenia gravis using mRNA from Descartes-08 delivered via WestGene’s nanoparticles, with trial initiation expected in the second half of 2026 and first clinical data expected in the first half of 2027.

Morgan Stanley Smith Barney LLC submitted a Form 144 notice concerning proposed sales of Common stock tied to restricted stock vesting under a registered plan. The excerpt lists proposed sale entries with dates 01/02/2025 and 01/02/2026, and a filing-related date of 06/02/2026.

The notice identifies amounts and line items such as 3924, 1,235, and 2,689 associated with the vesting entries; the filing shows the broker name and NASDAQ as the market. Timing and cash‑flow treatment for any transactions are not specified in the provided excerpt.

Cartesian Therapeutics entered a senior secured Loan and Security Agreement providing up to $150.0 million in term loans from K2 HealthVentures, with an initial $50.0 million tranche funded and additional tranches tied to clinical, approval and sales milestones or lender discretion.

The debt matures on June 1, 2030, bears interest at the greater of 8.95% or the prime rate plus 2.20%, and includes minimum cash and future revenue covenants as the company advances Descartes-08 through late-stage trials.

Lenders may convert up to $15.0 million of principal into common stock at $8.2526 per share or qualifying financing prices, subject to ownership caps. The company expects the initial funding to extend its cash runway into 2028 while it targets key data readouts and a planned BLA filing in 2027. Chief Medical Officer Milos Miljkovic, M.D., is resigning effective May 31, 2026, with severance consistent with his employment agreement.

CARTESIAN THERAPEUTICS INC ownership update: institutional investor FMR LLC reports beneficial ownership of 799,743 shares of Common Stock, representing 3.0% of the class as of 03/31/2026. The filing also lists Abigail P. Johnson with dispositive power over the same 799,743 shares.

The filing is an Amendment No. 4 to a Schedule 13G/A and includes a reference to a 13d-1(k) agreement in Exhibit 99 and a power of attorney incorporated by reference.

Cartesian Therapeutics, Inc. reported a first-quarter 2026 net loss of $39.2 million, wider than the prior year, as it increased investment in its lead cell therapy programs and recorded a higher fair value for contingent value rights.

Revenue was minimal at $0.1 million, all from a government grant, with no collaboration revenue recognized. Research and development expenses rose to $19.5 million, driven mainly by Phase 3 work on Descartes-08 for myasthenia gravis, while general and administrative costs declined to $7.1 million.

The company ended the quarter with $120.4 million in cash, cash equivalents and restricted cash and raised about $14.6 million through an at-the-market stock offering, and believes this liquidity will fund planned operations for at least the next 12 months.

Cartesian Therapeutics reported first quarter 2026 results and updated progress on its Descartes-08 cell therapy pipeline. Cash, cash equivalents and restricted cash were $120.4 million as of March 31, 2026, which the company expects will fund planned operations into mid-2027, including completion of the ongoing Phase 3 AURORA trial in myasthenia gravis.

For the quarter, total revenues were $78 thousand versus $1.1 million a year earlier, while research and development expenses rose to $19.5 million from $14.7 million, and general and administrative expenses declined to $7.1 million from $8.3 million. Net loss widened to $39.2 million, or $1.46 per basic share, compared with $17.7 million, or $0.68 per basic share, in the prior-year period.

The company highlighted ongoing enrollment in the randomized, placebo-controlled Phase 3 AURORA trial of Descartes-08 in acetylcholine receptor antibody–positive myasthenia gravis, initiation of the Phase 2 TRITON trial in multi-refractory myositis, and enrollment of multiple patients in the pediatric Phase 1/2 HELIOS trial in juvenile dermatomyositis. Descartes-08 is an autologous BCMA-targeting CAR-T designed for outpatient administration without preconditioning chemotherapy and has received multiple U.S. FDA designations, including Orphan Drug and Regenerative Medicine Advanced Therapy designations in myasthenia gravis and Rare Pediatric Disease designation in juvenile dermatomyositis.

Cartesian Therapeutics, Inc. will hold its 2026 Annual Meeting virtually on June 12, 2026 at 10:00 a.m. Eastern Time. Stockholders will vote to elect three Class I directors to terms ending in 2029, approve on a non-binding basis executive compensation, and ratify Ernst & Young LLP as auditor for 2026.

Holders of 29,302,729 shares of common stock outstanding as of April 14, 2026 are entitled to one vote per share and may vote by internet, telephone, mail, or during the virtual meeting. The proxy also outlines board structure, committee responsibilities, and a pay program emphasizing variable, equity-based compensation tied to company performance.

Cartesian Therapeutics, Inc. insider reporting shows a trust-related conversion of preferred stock into common stock. On April 2, 2026, Seven One Eight Three Four Irrevocable Trust elected to convert a portion of its Series A Non-Voting Convertible Preferred Stock into 758,001 shares of common stock at a stated conversion price of $0.0000 per share, all held indirectly with Elizabeth Hoge acting as trustee.

Following the conversion, the Trust holds 5,313,261 shares of common stock and 33,662.224 shares of Series A Non-Voting Convertible Preferred Stock, with the remaining preferred shares subject to a beneficial ownership limitation. A separate indirect holding reflects 506,999 shares of common stock held by Hoge's spouse. Footnotes state these securities stem from merger consideration and a private placement completed in November 2023.

Cartesian Therapeutics, Inc. insider filing shows a trust converting preferred stock into common shares. On April 2, 2026, a trust for the benefit of Murat Kalayoglu’s spouse and children exercised 22,740.03 shares of Series A Non-Voting Convertible Preferred Stock to acquire 758,001 shares of common stock at a conversion price of $0.00 per share.

After the transaction, the trust held 33,662.224 shares of the preferred stock and 5,313,261 shares of common stock indirectly. Murat Kalayoglu also held 506,999 shares of common stock directly. The filing reflects a derivative exercise and conversion, not an open-market purchase or sale.