Cartesian Therapeutics, Inc. (RNAC)

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Cartesian Therapeutics, Inc.

RNAC • CIK 0001453687

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Revenue from Contract with Customer, Excluding Assessed Tax	$26,004	$38,275	$400	$0
Revenue Not from Contract with Customer	—	$638	$2,397	$1,477
Revenues	—	$38,913	$2,797	$1,477
Operating Income (Loss)	$-86,416	$-43,897	$-143,405	$-155,359
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$-238,710	$-77,137	$-139,495	$-139,495
Income Tax Expense (Benefit)	$-19,000	$287	$-9,193	$-9,193
Net Income (Loss) Attributable to Parent	$-219,710	$-77,424	$-130,302	$-151,891
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$-219,752	$-77,445	$-130,257	$-151,922
Research and Development Expense	$71,839	$45,105	$58,034	$68,385
General and Administrative Expense	$40,581	$30,126	$31,468	$31,751
Impairment of Intangible Assets (Excluding Goodwill)	—	—	$56,700	$56,700
Operating Expenses	$112,420	$82,810	$146,202	$156,836
Investment Income, Interest	—	$7,386	$6,579	$4,945
Fair Value Adjustment of Warrants	$-12,746	$-2,558	$-3,695	$-1,199
Gain (Loss) on Derivative Instruments, Net, Pretax	$-149,600	$-6,890	$0	$0
Other Nonoperating Income (Expense)	$691	$606	$-2,010	$-1,882
Nonoperating Income (Expense)	—	—	$3,910	$-5,725
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	$-53	$-21	$45	$-31
Weighted Average Number of Shares Outstanding, Basic	155,109,561	17,276,822	25,973,329	28,173,915
Weighted Average Number of Shares Outstanding, Diluted	155,109,561	17,357,943	25,973,329	28,173,915

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Property, Plant and Equipment, Net	$2,113	$9,912	$12,185	$11,311
Operating Lease, Right-of-Use Asset	$10,068	$5,535	$5,601	$5,124
Indefinite-lived Intangible Assets (Excluding Goodwill)	$150,600	$150,600	$93,900	$93,900
Goodwill	$48,163	$48,163	$48,163	$48,163
Restricted Cash and Cash Equivalents, Noncurrent	$1,377	$1,669	$1,735	$1,735
Equity Securities without Readily Determinable Fair Value, Amount	$2,000	$2,000	$0	$0
Prepaid Expense and Other Assets, Noncurrent	—	—	$5,551	$4,780
Assets	$305,050	$435,023	$296,411	$318,628
Operating Lease, Liability, Noncurrent	$8,789	$11,133	$8,525	$6,805
Deferred Income Tax Liabilities, Net	$15,853	$16,141	$6,948	$6,948
Liabilities	$444,680	$441,825	$422,651	$443,854
Cash and Cash Equivalents, at Carrying Value	$76,911	$212,610	$125,139	$147,606
Accounts Receivable, after Allowance for Credit Loss, Current	$5,870	$872	$1,115	$196
Prepaid Expense and Other Assets, Current	$4,967	$3,144	$3,022	$5,813
Assets, Current	$90,729	$216,626	$129,276	$153,615
Accounts Payable, Current	$3,150	$288	$1,288	$1,046
Accrued Liabilities and Other Liabilities	$15,572	$12,076	$9,498	$15,142
Operating Lease, Liability, Current	$2,166	$2,851	$4,151	$4,197
Liabilities, Current	$68,209	$22,976	$14,937	$20,550
Preferred Stock, Value, Issued	$0	$0	$0	$0
Common Stock, Value, Issued	$16	$3	$3	$3
Additional Paid in Capital	$179,047	$689,887	$700,706	$725,165
Retained Earnings (Accumulated Deficit)	$-614,647	$-692,071	$-822,373	$-845,786
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-4,600	$-4,621	$-4,576	$-4,608
Stockholders' Equity Attributable to Parent	$-440,184	$-6,802	$-126,240	$-125,226
Preferred Stock, Shares Authorized	9,451,625	9,427,168.437	9,427,168.437	9,449,908.467
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	350,000,000	350,000,000	350,000,000	350,000,000
Common Stock, Shares, Issued	161,927,821	25,767,369	26,011,106	30,037,962

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss) Attributable to Parent	$-219,710	$-77,424	$-130,302	$-151,891
Net Cash Provided by (Used in) Operating Activities	$-51,161	$-23,674	$-73,941	$-76,529
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$-53	$-21	$45	$-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-29,750	$135,991	$-87,405	$-12,718
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$78,288	$214,279	$126,874	$65,147
Other Depreciation and Amortization	$843	$1,151	$2,959	$2,608
Payments to Acquire Property, Plant, and Equipment	$206	$9,093	$5,454	$2,083
Finance Lease, Right-of-Use Asset, Amortization	$1,754	$2,437	$778	$884
Proceeds from Sale of Property, Plant, and Equipment	—	$351	$0	$0
Gain (Loss) on Disposition of Property Plant Equipment	$-477	$-273	$0	$0
Net Cash Provided by (Used in) Investing Activities	$34,609	$-8,742	$-5,454	$-2,083
Impairment of Intangible Assets (Excluding Goodwill)	—	—	$56,700	$56,700
Share-based Payment Arrangement, Noncash Expense	$22,524	$6,582	$10,521	$9,240
Fair Value Adjustment of Warrants	$-12,746	$-2,558	$-3,695	$-1,199
Unrealized Gain (Loss) on Derivatives	—	—	$0	$0
Equity Method Investment, Other than Temporary Impairment	—	—	$2,000	$2,000
Deferred Income Tax Expense (Benefit)	$-19,000	$287	$-9,193	$-9,193
Proceeds from Issuance of Preferred Stock and Preference Stock	$20,250	$40,000	$0	$0
Payments of Stock Issuance Costs	—	$66	$624	$145
Proceeds from Warrant Exercises	—	$2,877	$0	$0
Proceeds from Stock Options Exercised	$0	$1,179	$323	$732
Net Cash Provided by (Used in) Financing Activities	$-13,145	$168,428	$-8,055	$65,925
Capital Expenditures Incurred but Not yet Paid	$128	$847	$18	$-449
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	—	—	$844	$844
Increase (Decrease) in Accounts Receivable	$-726	$-4,998	$243	$-158
Increase (Decrease) in Prepaid Expense and Other Assets	$1,265	$-1,747	$5,298	$263
Increase (Decrease) in Accounts Payable	$2,834	$-2,927	$1,066	$372
Increase (Decrease) in Contract with Customer, Liability	$5,256	$-5,849	$0	$0
Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities	$-2,761	$-6,741	$-3,588	$4,565

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Import this data to Google Sheets with:

=jivedata("RNAC","financials")

Full statements spill as a table. For one cell: =jivedata("RNAC","Revenue") or =jivedata("RNAC","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.