Cartesian reports positive 12-month Phase 2a data for Descartes-08 in MG; cash $118M

Cartesian Therapeutics, Inc.

12-month follow-up: 5 of 7 Phase 2a MG patients maintained clinically meaningful improvements ~10 months after last infusion; autoantibodies durably reduced.
Descartes-08 well-tolerated with no dose-limiting toxicities, cytokine release syndrome, or neurotoxicity; outpatient administration without lymphodepletion.
Phase 2b topline data expected mid-2024; Phase 2 study in SLE to initiate 1H24; IND cleared for next-gen Descartes-15 for multiple myeloma.
Pro forma cash ~$118M as of Dec 31, 2023; expected to fund operations into 2H 2026, through Phase 3 of Descartes-08.
Common shares outstanding: 161.9M; Series A preferred convertible into ~534.3M common shares.

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