Cartesian Therapeutics Reports Third Quarter 2025 Financial Results and Provides Business Update

Core Insights - Cartesian Therapeutics is making significant progress in its clinical trials, particularly the Phase 3 AURORA trial of Descartes-08 for myasthenia gravis (MG) and anticipates preliminary data from the Phase 2 trial in systemic lupus erythematosus (SLE) by the end of the year [2][5][6] Financial Overview - As of September 30, 2025, the company reported cash, cash equivalents, and restricted cash totaling approximately $145.1 million, which is expected to support operations into mid-2027 [4][10] - The net loss for the third quarter of 2025 was $35.9 million, or $1.38 per share, compared to a net loss of $24.2 million, or $1.13 per share, for the same period in 2024 [10][16] Clinical Development Updates - The Phase 3 AURORA trial is a randomized, double-blind, placebo-controlled study assessing Descartes-08, targeting approximately 100 participants with AChR Ab+ MG, with a primary endpoint focused on improvement in MG Activities of Daily Living (MG-ADL) score [5][6] - The company plans to initiate a Phase 2 pediatric basket trial targeting juvenile autoimmune diseases, including juvenile SLE and juvenile MG, by the end of the year [5][6] Pipeline Progress - Descartes-08 is designed to be administered without preconditioning chemotherapy and has received Orphan Drug Designation and Regenerative Medicine Advanced Therapy Designation from the FDA for MG [6][8] - Descartes-15, a next-generation CAR-T therapy, is currently in a Phase 1 trial for multiple myeloma, showing promising preclinical results [7][8]