Cartesian Therapeutics, Inc. reported its financial results for the first quarter ended March 31, 2025. The company posted total revenue of $1.1 million, a decrease from $5.84 million in the comparable prior-year period.
Despite the revenue decline, the net loss for the quarter significantly narrowed to $17.71 million, compared to a net loss of $56.82 million in the first quarter of 2024. Basic loss per share from continuing operations was $0.68, a substantial improvement from $10.5 per share a year ago.
As of March 31, 2025, Cartesian Therapeutics maintained a strong cash position with approximately $182.1 million in cash, cash equivalents, and restricted cash. This capital is projected to fund the company's operating expenses and capital expenditure requirements into mid-2027, including the completion of the planned Phase 3 AURORA trial.
The company also provided updates on its pipeline, confirming that the initiation of the Phase 3 AURORA trial for Descartes-08 in myasthenia gravis is expected in the second quarter of 2025. Preliminary data from the Phase 2 trial of Descartes-08 in systemic lupus erythematosus and the initiation of a Phase 2 pediatric basket trial are both anticipated in the second half of 2025.
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