Cartesian Therapeutics reports FY2025 net loss of $130.3M; cash $126.9M funds into mid-2027

Cartesian Therapeutics, Inc.

Net loss of $130.3M ($5.02 per basic share) compared to $77.4M ($4.48) in FY2024.
R&D expenses rose to $58.0M from $45.1M, driven by Phase 3 AURORA trial and headcount growth.
Cash, equivalents and restricted cash of $126.9M expected to support operations into mid-2027, including AURORA completion.
Phase 3 AURORA trial for Descartes-08 in myasthenia gravis on track to enroll ~100 patients; Phase 2 TRITON in myositis IND accepted, initiation expected 1H26.
Board changes: Adrian Bot appointed in Dec 2025; Carsten Brunn named Chairman in Oct 2025.

item 2.02 item 9.01

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