Cartesian Therapeutics, Inc. - RNAC STOCK NEWS

Cartesian Therapeutics (NASDAQ: RNAC), a clinical-stage biotech company focusing on mRNA cell therapy for autoimmune diseases, has announced its participation in two upcoming investor conferences in September 2024:

1. H.C. Wainwright 26th Annual Global Investment Conference on September 9 at 2:30 p.m. ET in New York, NY

2. Cantor Global Healthcare Conference on September 17 at 9:45 a.m. ET in New York, NY

The company's management will participate in fireside chats at both events. Live webcasts of these discussions will be available on the Events section of Cartesian Therapeutics' website, with archived replays accessible for a time.

Cartesian Therapeutics (NASDAQ: RNAC) reported Q2 2024 financial results and provided a business update. Key highlights:

1. Positive topline results from Phase 2b trial of Descartes-08 in myasthenia gravis patients.

2. First SLE patient dosed in Phase 2 trial of Descartes-08.

3. IND filing for pediatric basket study of Descartes-08 expected by year-end.

4. $130 million PIPE financing completed to support Descartes-08 development.

5. Q2 2024 financials: $88.9 million in cash, $12.7 million R&D expenses, $7.0 million G&A expenses.

6. Net income of $13.8 million, including $30 million milestone fee from Sobi.

The company plans an End-of-Phase 2 meeting with FDA by year-end and aims to initiate a Phase 3 trial in MG.

Cartesian Therapeutics (NASDAQ: RNAC), a clinical-stage biotech company focused on mRNA cell therapies for autoimmune diseases, has granted inducement awards to seven new employees. The company issued options to purchase a total of 100,457 shares of common stock at an exercise price of $15.47 per share, matching the closing price on Nasdaq on August 1, 2024. These options, approved by the board of directors, were granted under the company's Amended and Restated 2018 Employment Inducement Incentive Award Plan. The vesting schedule is 25% on August 1, 2025, followed by three equal annual installments, with full vesting by August 1, 2028. The options have a ten-year term and were granted under Nasdaq Listing Rule 5635(c)(4) as an employment inducement.

Cartesian Therapeutics (NASDAQ: RNAC), a clinical-stage biotech company focused on mRNA cell therapies for autoimmune diseases, announced employment inducement grants.

On July 1, 2024, the company issued options to purchase 35,198 shares of common stock at $24.27 per share, the closing price on the grant date.

The options vest 25% on July 1, 2025, with the remaining shares vesting in three equal annual installments until fully vested on July 1, 2028.

These awards were issued under the 2018 Employment Inducement Incentive Award Plan and approved by the board, granted under Rule 5635(c)(4) of Nasdaq Listing Rules.

Cartesian Therapeutics, a clinical-stage biotech company specializing in mRNA cell therapy for autoimmune diseases, has appointed Dr. Kemal Malik to its Board of Directors. Dr. Malik brings over 30 years of global experience in development, regulatory, and commercialization from his tenure at Bayer and Bristol-Myers Squibb. His expertise includes overseeing twenty positive Phase 3 trials and the approval of several blockbuster drugs. Cartesian's CEO Carsten Brunn expressed enthusiasm for Malik's contributions to advancing their pipeline of mRNA therapies. Malik also holds positions at Syncona, Atomwise, and Our Future Health.

Cartesian Therapeutics announced a $130 million private placement equity financing through a PIPE agreement, expected to close by July 3, 2024. The deal includes selling 3,563,247 common shares and 2,937,903 Series B Preferred shares at $20.00 each, convertible to common stock upon approval and certain conditions. Key investors include HBM Healthcare Investments, Invus, Schooner Capital, and others. Net proceeds will fund pipeline programs and corporate purposes. Leerink Partners and TD Cowen are lead placement agents. Securities involved are not registered under the Securities Act of 1933 and will be registered for resale with the SEC.

Cartesian Therapeutics (NASDAQ: RNAC) has initiated a Phase 2 open-label clinical trial to evaluate Descartes-08 in patients with systematic lupus erythematosus (SLE). Descartes-08 is an mRNA-engineered chimeric antigen receptor T-cell therapy (mRNA CAR-T) targeting B-cell maturation antigen (BCMA). Unlike traditional DNA-based CAR-T therapies, mRNA CAR-T doesn't require preconditioning chemotherapy and reduces the risk of genomic integration. The trial aims to assess the safety and tolerability of Descartes-08 as an outpatient therapy for moderate to severe SLE patients refractory to immunosuppressant therapy. The study will enroll up to 30 adult participants and will also measure overall disease activity.

Cartesian Therapeutics announced positive results from its Phase 2b trial of Descartes-08 in patients with generalized myasthenia gravis (MG). The trial met its primary endpoint, with 71% of treated patients showing significant improvement in MGC scores at Month 3 compared to 25% for placebo. Deep, durable responses were observed for at least six months. Descartes-08 was well tolerated, with mild and transient adverse events. The company plans to hold an End-of-Phase 2 meeting with the FDA by year-end. A conference call to discuss these results is scheduled for today at 8:00 a.m. ET. Cartesian also initiated a Phase 2 trial of Descartes-08 for systemic lupus erythematosus (SLE) and announced the appointment of Kemal Malik to its Board of Directors.

Cartesian Therapeutics (NASDAQ: RNAC) announced the issuance of an inducement award to a new employee. On June 3, 2024, the employee received an option to purchase 11,000 shares of the company's common stock at an exercise price of $36.00 per share, the closing trading price on the Nasdaq Global Market on the grant date.

The option is part of the company's Amended and Restated 2018 Employment Inducement Incentive Award Plan, approved by the board. It vests 25% on June 3, 2025, with additional equal annual installments thereafter, fully vesting by June 3, 2028. The option has a ten-year term and was granted under Rule 5635(c)(4) of the Nasdaq Listing Rules.