logo
Twitter
Discord
Email
logo
Cartesian Therapeutics, Inc.

Cartesian Therapeutics, Inc.

NASDAQ•RNAC
CEO: Dr. Carsten Brunn Ph.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2016-06-22
Cartesian Therapeutics, Inc., a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases. The company develops Descartes-15 to treat Autoimmune diseases, myeloma; and Descartes-33 which is in preclinical development for treatment of autoimmune diseases. Cartesian Therapeutics, Inc. is headquartered in Gaithersburg, Maryland.
Contact Information
704 Quince Orchard Road, Gaithersburg, MD, 20878, United States
617-923-1400
www.cartesiantherapeutics.com
Market Cap
$199.19M
P/E (TTM)
-3.9
40.1
Dividend Yield
--
52W High
$20.12
52W Low
$5.98
52W Range
12%
Rank53Top 76.1%
2.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$452.00K+16.80%
4-Quarter Trend

EPS

-$1.38+22.12%
4-Quarter Trend

FCF

-$16.89M-325.47%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Loss Significantly Narrows Net loss decreased 44% to $37.7M for nine months ended September 30, 2025, compared to $67.2M prior period.
Strong Cash Runway Maintained Cash, equivalents, and restricted cash totaled $145.1M as of September 30, 2025, funding operations for at least 12 months.
R&D Spending Increases Research and development expenses grew 28% to $43.3M for nine months 2025, driven by Descartes-08 Phase 3 trial costs.
Favorable CVR Valuation Change Recognized $18.7M income from contingent value right liability decrease for nine months 2025, reversing prior period expense.

Risk Factors

Collaboration Revenue Plummets Collaboration revenue fell 99% to $0.4M (9M 2025) due to prior period milestone recognition ending.
Continued Operating Cash Use Net cash used in operating activities totaled $56.2M for nine months 2025, reflecting ongoing preclinical and clinical expenses.
High Accumulated Deficit Accumulated deficit reached $729.8M as of September 30, 2025; profitability remains uncertain for foreseeable future.
Future Capital Needs Critical Substantial additional financing required to fund operations; failure to raise capital risks curtailing development programs.

Outlook

Advance Key Product Candidate Focus remains advancing Descartes-08 for MG through Phase 3 development and seeking necessary regulatory approvals.
Secure Future Capital Sources Plan to pursue additional capital via equity, debt financings, or strategic collaborations to fund ongoing operations.
Expand Scientific Headcount Intend to hire additional clinical, scientific, and management personnel to support ongoing development activities.
Continue Preclinical Development Will continue developing preclinical and clinical-stage product candidates despite high uncertainty regarding success and costs.

Peer Comparison

Revenue (TTM)

Enanta Pharmaceuticals, Inc.ENTA
$65.32M
-3.4%
Entrada Therapeutics, Inc.TRDA
$61.52M
-71.4%
Inventiva S.A.IVA
$32.75M
+15.4%

Gross Margin (Latest Quarter)

Enanta Pharmaceuticals, Inc.ENTA
100.0%
+0.0pp
ProQR Therapeutics N.V.PRQR
100.0%
+0.0pp
Caribou Biosciences, Inc.CRBU
71.3%
-28.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
VTYX$988.88M-9.3-48.1%4.7%
TRDA$399.77M-4.0-26.4%12.7%
FHTX$377.75M-5.3105.5%11.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
N/M
Revenue Volatile
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Mar 12, 2026
|
EPS:-$0.82
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $452.00K+16.8%
    |
    EPS: $-1.38+22.1%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $298.00K-99.1%
    |
    EPS: $0.61+5.2%
    Meet

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $1.10M-81.2%
    |
    EPS: $-0.68-93.5%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 13, 2025|
    Revenue: $38.91M+49.6%
    |
    EPS: $-2.99+94.0%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $387.00K-94.1%
    |
    EPS: $-1.13-35.1%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $33.45M+537.2%
    |
    EPS: $0.58-126.0%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $5.84M-1.7%
    |
    EPS: $-10.50+147.6%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 7, 2024|
    Revenue: $26.00M-76.5%
    |
    EPS: $-49.76-778.9%
    Miss