Every 10-Q that Cartesian Therapeutics, Inc. (RNAC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow RNAC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RNAC filings page.
Cartesian Therapeutics, Inc. is a late clinical‑stage cell therapy company focused on autoimmune diseases, led by its autologous CAR‑T candidate Descartes‑08 for generalized myasthenia gravis and myositis. Descartes‑08 has Orphan Drug, Regenerative Medicine Advanced Therapy and Rare Pediatric Disease designations from the FDA.
For the three months ended June 30, 2026, revenue was $0, operating expenses were $29.2 million, and net income was $15,769 (amounts in thousands), driven mainly by a $49,200 non‑cash gain from remeasuring the contingent value rights liability, partially offset by a $4,535 loss on an embedded derivative and $852 of interest expense. For the six‑month period, the company recorded $78 of grant revenue, $55,732 of operating expenses and a net loss of $23,413 (all in thousands), with operating cash outflows of $43,217 thousand.
As of June 30, 2026, cash, cash equivalents and restricted cash totaled $149.3 million, and management believes this will fund planned operations for at least the next 12 months. Liquidity is supported by a new senior secured Term Loan Facility with commitments up to $150.0 million (of which $50.0 million is drawn, including a convertible component) and an at‑the‑market equity program that raised $19.3 million in the first half of 2026.
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 (RNAC) filed its Q3 2025 10‑Q, reporting operating progress and updated financials. Cash and cash equivalents were $143.4 million ($145.1 million including restricted) and management states this will fund current planned operations for at least the next 12 months.
Total revenue was $0.5 million in the quarter and $1.9 million year‑to‑date, primarily from grants. Research and development expense was $13.8 million in Q3 ($43.3 million YTD), and general and administrative was $7.7 million in Q3 ($23.3 million YTD). The company recorded a Q3 net loss of $35.9 million and a year‑to‑date net loss of $37.7 million, reflecting operating spend and non‑cash fair‑value changes.
The contingent value right liability decreased to $369.0 million from $395.5 million, with $7.8 million distributed in March 2025 per the CVR terms. Shares outstanding were 26,003,606 as of October 31, 2025. The company remains focused on clinical‑stage cell therapies for autoimmune diseases.