FY2025 · ended Dec 31, 2025 · Revenue $400,000, -99.0% YoY · Filed Mar 9, 2026
Cartesian Therapeutics, Inc. (RNAC) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $400,000 and a net loss of $130.3 million. Free cash flow was -$79.4 million. As of Sep 30, 2026 it held $123.0 million in cash and investments and $60.3 million in total debt.
Revenue (TTM)
$0
+100.0% vs year-ago TTM
Net income (TTM)
$-127.46M
-165.7% vs year-ago TTM
Operating cash flow (TTM)
$-88.66M
-40.2% vs year-ago TTM
Free cash flow (TTM)
$-89.89M
-30.5% vs year-ago TTM
EPS (TTM)
$-4.53
-144.2% vs year-ago TTM
Dividend per share
None
Shares outstanding
26.51M
+2.3% vs prior year
Net cash
$62.64M
as of Sep 30, 2026
Operating margin
-35851.2%
FY 2025
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- RNAC (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Frederick, MD
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1453687
- Former names
- SELECTA BIOSCIENCES INC (until Nov 13, 2023)
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $400,000 | $38.3M | $26.0M | $110.8M | $85.1M |
| Operating income | -$143.4M | -$43.9M | -$86.4M | $14.5M | -$4.6M |
| Net income | -$130.3M | -$77.4M | -$219.7M | $35.4M | -$25.7M |
| Diluted EPS | -$5.02 | -$4.49 | -$49.76 | $0.10 | -$0.22 |
| Operating cash flow | -$73.9M | -$23.7M | -$51.2M | -$31.6M | -$60.4M |
| Free cash flow | -$79.4M | -$32.8M | -$51.4M | -$32.8M | -$61.5M |
| Total assets | $296.4M | $435.0M | $305.1M | $165.9M | $159.9M |
| Total liabilities | $422.7M | $441.8M | $444.7M | $72.1M | $137.4M |
| Stockholders' equity | -$126.2M | -$6.8M | -$440.2M | $93.8M | $22.5M |
| Cash and investments | $125.1M | $212.6M | $76.9M | $134.6M | $128.1M |
| Total debt | $12.7M | $14.0M | $11.0M | $11.7M | $9.6M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 5, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Nov 5, 2026 | Nov 5, 2026 |
| 8-K |
Current report
Regulation FD disclosure, Other events
|
Sep 29, 2026 | Sep 29, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 6, 2026 | Aug 6, 2026 |
| 8-K |
Current report
Shareholder vote results
|
Jun 17, 2026 | Jun 12, 2026 |
All 876 Cartesian Therapeutics, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.