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Cartesian Therapeutics Secures $150M Financing from K2 HealthVentures
Cartesian Therapeutics announced that it has entered into an agreement with K2 HealthVentures, an alternative investment firm that provides flexible, long-term financing solutions in life sciences, to provide a credit facility of up to $150M including an initial $50M tranche. The proceeds from the initial tranche under the credit facility are expected to allow the Company to accelerate the ongoing investment in the commercial launch preparation activities for Descartes-08 in myasthenia gravis and myositis and to extend cash runway into 2028. The Company also announced progress across its pipeline, including updated timelines for all ongoing trials of Descartes-08, an autologous anti-B cell maturation antigen mRNA chimeric antigen receptor T-cell therapy.
Cartesian Reports FY25 Revenue of $2.797M, Exceeding Expectations
Reports FY25 revenue $2.797M, consensus $1.97M. "Building on a productive year, we look forward to a potentially transformative 2026 as we advance Descartes-08 across several autoimmune indications," said Carsten Brunn, Ph.D., President and Chief Executive Officer of Cartesian. "Our top priority remains delivering on our Phase 3 AURORA trial in myasthenia gravis, for which we are on track to enroll approximately 100 patients. This trial represents a crucial opportunity to demonstrate the potential of Descartes-08 to improve patient outcomes and redefine the standard-of-care for MG. Descartes-08's ease of use, including, flexible, convenient outpatient administration with no preconditioning chemotherapy, combined with deep and durable responses observed through 12 months following a single course of treatment, and a favorable safety profile, underscore our belief that Descartes-08 holds significant promise to deliver meaningful benefit to patients."
Cartesian Therapeutics Grants 12,050 Stock Options to New Employees
Cartesian Therapeutics announced the granting of inducement awards to two new employees. On February 2, 2026, the Company issued to these employees options to purchase an aggregate of 12,050 shares of the Company's common stock with an exercise price of $6.79, 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 February 2, 2027, and then in thirty-six substantially equal monthly installments thereafter such that the options will be fully vested on February 2, 2030. 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.
Cartesian Therapeutics Updates Descartes-08 Program and Initiates Pediatric Trial
Cartesian Therapeutics highlighted its recent progress and outlined its 2026 strategic priorities across its cell therapy pipeline targeting autoimmune diseases. Descartes-08 Program Updates: Enrollment remains on track in the Phase 3 AURORA trial of Descartes-08, Cartesian's autologous anti-B cell maturation antigen chimeric antigen receptor T-cell therapy, in participants with MG. Cartesian announced the U.S. Food and Drug Administration (FDA) accepted the investigational new drug application for its planned Phase 2 trial in myositis. Cartesian today announced the initiation of its Phase 1/2 pediatric trial of Descartes-08 in children and young adults with autoimmune diseases, including juvenile dermatomyositis. the Company announced the publication of two peer-reviewed journal articles in Nature Medicine detailing the mechanism of action of Descartes-08 as well as reiterating data surrounding the Phase 2b trial of Descartes-08 in patients with MG.
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