Cartesian TherapeuticsNASDAQ: RNAC

Cartesian (RNAC) announced that the phase IIb study in MG patients has achieved its primary endpoints. However, the stock nosedives following an equity financing announcement.

Dr. Malik to deepen strategic leadership and provide regulatory and clinical development innovation expertise Dr. Malik to deepen strategic leadership and provide regulatory and clinical development innovation expertise

GAITHERSBURG, Md., July 02, 2024 (GLOBE NEWSWIRE) -- Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a clinical-stage biotechnology company pioneering mRNA cell therapy for autoimmune diseases, today announced that it has entered into a securities purchase agreement for a private investment in public equity (“PIPE”) financing that is expected to result in gross proceeds of approximately $130.0 million to the Company, before deducting placement agent fees and other offering expenses. The PIPE financing is expected to close on or about July 3, 2024, subject to satisfaction of customary closing conditions.

Trial met primary endpoint with statistical significance, with 71% of myasthenia gravis patients treated with Descartes-08 observed to have a clinically meaningful improvement in MGC score at Month 3 compared to 25% for placebo

GAITHERSBURG, Md., June 06, 2024 (GLOBE NEWSWIRE) -- Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a clinical-stage biotechnology company developing mRNA cell therapies for the treatment of autoimmune diseases, today announced the granting of an inducement award to a new employee. On June 3, 2024, the Company issued to this employee an option to purchase 11,000 shares of the Company's common stock with an exercise price of $36.00, the closing trading price of the Company's common stock on the Nasdaq Global Market on the date of grant. The option was granted pursuant to the Company's Amended and Restated 2018 Employment Inducement Incentive Award Plan and was approved by the Company's board of directors. The option vests as to 25% on June 3, 2025, and then in three equal annual installments thereafter such that the option will be fully vested on June 3, 2028. The option has a ten-year term. The option was granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to the employee's entry into employment with the Company.

The FDA bestows RMAT designation to Cartesian's (RNAC) lead pipeline candidate, Descartes-08, for treating myasthenia gravis. Shares rise.

Cartesian Therapeutics, Inc. (NASDAQ:RNAC), a biotechnology company specializing in mRNA cell therapy for autoimmune diseases, will be participating in a fireside chat at the H.C. Wainwright 2nd Annual BioConnect Investor Conference on May 20, 2024 at 3:00 p.m. ET.

Cartesian Therapeutics, Inc. (RNAC) has received a Zacks Rank #2 (Buy), indicating increasing confidence in the company's potential earnings. This could lead to a rise in the stock price in the short term.

The average price target suggests a potential 141% increase for Cartesian Therapeutics, Inc. (RNAC). Although studies show this metric may not always be accurate, an increase in earnings estimates could indicate a positive trend for the stock in the near future.