Cartesian Therapeutics Q1 net loss widens on higher R&D costs

Overview

• US cell therapy developer's Q1 revenue fell sharply, with minimal grant and no collaboration income

• Net loss widened yr/yr, driven by higher R&D expenses for Phase 3 AURORA trial

• Company ended Q1 with $120.4 mln cash, seen funding operations into mid-2027

Outlook

• Company expects cash resources to support operations into mid-2027, including Phase 3 AURORA trial completion

Result Drivers

• R&D SPENDING - Higher research and development expenses driven by ongoing Phase 3 AURORA trial for Descartes-08 in myasthenia gravis

• PIPELINE ADVANCEMENT - Initiation of Phase 2 TRITON trial in myositis and enrollment in pediatric HELIOS trial increased development costs

• LOWER ADMIN COSTS - General and administrative expenses decreased due to lower professional and consulting fees

Company press release: ID:nGNX4ww6tQ

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Cartesian Therapeutics Inc is $39.00, about 502.8% above its April 29 closing price of $6.47

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