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Mar 31, 2024
Selecta Biosciences Q1 2024 Earnings Report
Cartesian Therapeutics reported financial results for Q1 2024 and provided a business update.
Key Takeaways
Cartesian Therapeutics reported cash, cash equivalents, and restricted cash of approximately $104.8 million as of March 31, 2024. Net loss was $(56.8) million, or $(10.50) per share.
Topline data from Phase 2b trial of Descartes-08 in myasthenia gravis on track for mid-2024.
On track to dose first patient in Phase 2 trial of Descartes-08 in SLE in 2Q24, as well as Phase 2 basket studies in additional autoimmune indications in 2H24.
New headquarters expected to support scale of wholly owned, in-house cGMP manufacturing capabilities.
Cash, cash equivalents, and restricted cash of approximately $104.8M as of March 31, 2024, expected to support planned operations into 2H 2026.
Forward Guidance
The Company’s cash, cash equivalents and restricted cash as of March 31, 2024 is expected to support planned operations and the development of Cartesian’s pipeline into the second half of 2026, including the planned Phase 3 trial of Descartes-08 in MG.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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