Cartesian Therapeutics Announces New Employment Inducement Grants

Rhea-AI Summary

Cartesian Therapeutics (NASDAQ: RNAC), a clinical-stage biotechnology company focused on autoimmune disease cell therapies, has granted inducement awards to four new employees. The awards consist of options to purchase a total of 31,000 shares of company common stock at an exercise price of $12.49 per share, matching the closing price on Nasdaq Global Market on April 1, 2025.

The options were issued under the Company's Amended and Restated 2018 Employment Inducement Incentive Award Plan and received board approval. The vesting schedule includes 25% vesting on April 1, 2026, followed by three equal annual installments, achieving full vesting by April 1, 2029. These ten-year term options were granted under Nasdaq Listing Rule 5635(c)(4) as employment inducements.

FREDERICK, Md., April 02, 2025 (GLOBE NEWSWIRE) -- Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a clinical-stage biotechnology company pioneering cell therapies for the treatment of autoimmune diseases, today announced the granting of inducement awards to four new employees. On April 1, 2025, the Company issued to these employees options to purchase an aggregate of 31,000 shares of the Company’s common stock with an exercise price of $12.49, the closing trading price of the Company’s common stock on the Nasdaq Global Market on the date of grant. The options were granted pursuant to the Company’s Amended and Restated 2018 Employment Inducement Incentive Award Plan and were approved by the Company’s board of directors. The options vest as to 25% on April 1, 2026, and then in three equal annual installments thereafter such that the options will be fully vested on April 1, 2029. The options have a ten-year term. The options were granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to the employees’ entry into employment with the Company.

About Cartesian Therapeutics

Cartesian Therapeutics is a clinical-stage company pioneering cell therapies for the treatment of autoimmune diseases. The Company’s lead asset, Descartes-08, is a CAR-T entering Phase 3 clinical development for patients with generalized myasthenia gravis and Phase 2 development for systemic lupus erythematosus, with a Phase 2 basket trial planned in additional autoimmune indications. A Phase 3 trial of Descartes-08 in patients with generalized myasthenia gravis has received written agreement from the FDA under the Special Protocol Assessment process. The Company’s clinical-stage pipeline also includes Descartes-15, a next-generation, autologous anti-BCMA CAR-T currently being evaluated in a Phase 1 trial in patients with multiple myeloma. For more information, please visit www.cartesiantherapeutics.com or follow the Company on LinkedIn or X, formerly known as Twitter.

Contact Information:
Investor Contact:
Megan LeDuc
Associate Director, Investor Relations
megan.leduc@cartesiantx.com

Media Contact:
David Rosen
Argot Partners
david.rosen@argotpartners.com

FAQ

What is the exercise price for RNAC's new stock options granted in April 2025?

The exercise price is $12.49 per share, matching RNAC's closing price on Nasdaq Global Market on April 1, 2025.

How many shares are included in RNAC's April 2025 inducement awards?

The inducement awards include options to purchase 31,000 shares of common stock.

What is the vesting schedule for RNAC's April 2025 inducement options?

The options vest 25% on April 1, 2026, followed by three equal annual installments until full vesting on April 1, 2029.

How long is the term for RNAC's April 2025 inducement stock options?

The stock options have a ten-year term.