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Sep 30, 2024
Selecta Biosciences Q4 2024 Earnings Report
Cartesian Therapeutics reported its full year 2024 financial results and provided a business update.
Key Takeaways
Cartesian Therapeutics reported a net loss of $(77.4) million for the full year ended December 31, 2024, with total revenue of $38.913 million. The company ended the year with approximately $214.3 million in cash, cash equivalents, and restricted cash, which is expected to support operations into mid-2027.
Phase 3 AURORA trial of Descartes-08 in myasthenia gravis is on track to commence in 1H25.
Deep and durable responses were maintained over 12 months in Descartes-08-treated participants in the Phase 2b trial.
Phase 2 trial of Descartes-08 in systemic lupus erythematosus is ongoing with expected data readout in 2H25.
The company expects to initiate a Phase 2 pediatric basket trial of Descartes-08 in select autoimmune indications in 2H25.
Selecta Biosciences
Selecta Biosciences
Selecta Biosciences Revenue by Segment
Revenue by Segment
Collaboration and license Revenue
CapyFin.comGrant Revenue
CapyFin.com Forward Guidance
Cartesian Therapeutics is focused on advancing its pipeline, with key milestones including the commencement of the Phase 3 AURORA trial for Descartes-08 in MG, preliminary data from the Phase 2 SLE trial, and initiation of a Phase 2 pediatric basket trial.
Positive Outlook
- Phase 3 AURORA trial of Descartes-08 in MG on track to commence in 1H25.
- Phase 2 trial of Descartes-08 in systemic lupus erythematosus ongoing with expected data readout in 2H25.
- Company expects to initiate Phase 2 pediatric basket trial of Descartes-08 in select autoimmune indications in 2H25.
- Dosing underway in first-in-human Phase 1 trial of Descartes-15.
- Approximately $214.3 million cash, cash equivalents and restricted cash as of December 31, 2024 expected to support planned operations into mid-2027.
Challenges Ahead
- No specific negative forward guidance was provided in the report.