Selecta posts Q2 net loss of $11.4M; suspends pipeline investment to focus on SEL-212 BLA filing in 1H 2024

Cartesian Therapeutics, Inc.

Net loss of $11.4M ($0.07/share) vs net income of $8.6M ($0.06) in Q2 2022; collaboration revenue fell to $5.2M from $39.3M.
Cash, equivalents, restricted cash, marketable securities $115.0M as of June 30, 2023; expected to fund operations into 2027.
BLA submission for SEL-212 (chronic refractory gout) on track for 1H 2024; eligible for up to $615M in remaining milestone payments from Sobi.
Halting further investment in pipeline assets including ImmTOR-IL; evaluating licensing/corporate development for pipeline programs.
Partnership with Astellas for Xork IgG protease in LOPD continues; Xork designed to expand gene therapy access.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.