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Cartesian Therapeutics reported its first-quarter 2024 financial results, highlighting progress in its pipeline of mRNA cell therapy product candidates. The company remains on track to report topline data from the Phase 2b trial of Descartes-08 for myasthenia gravis by mid-2024. The new headquarters in Frederick, Maryland, is expected to support the company's manufacturing capabilities. With approximately $104.8 million in cash, cash equivalents, and restricted cash as of March 31, 2024, Cartesian is well-positioned to support its operations into the second half of 2026.
Cartesian Therapeutics, Inc. (NASDAQ: RNAC) granted inducement awards to four new employees by issuing options to purchase shares of the Company's common stock. The options have an exercise price of $22.64 and are exercisable for a total of 72,769 shares. Each option vests over time and has a ten-year term. The grants were made under the Company's 2018 Employment Inducement Incentive Award Plan and were approved by the board of directors.