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Cartesian Therapeutics, Inc. logo

Cartesian Therapeutics, Inc.

RNAC

NASDAQHealthcareBiotechnology

Open in GoAI

Previous close

$10.04

−$0.19 · -1.86%

Aug 21, 4:00 PM ET

Pre-market

$10.20

+$0.16 · +1.59%

Aug 24, 4:03 AM ET

RNAC company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

37

Expensive

Momentum

56

Neutral

Sentiment

60

Mixed

Risk resilience

44

Elevated Risk

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Company profile

Company website

Cartesian Therapeutics, Inc., a clinical-stage biotechnology company, provides mRNA cell therapies for the treatment of autoimmune diseases. The company’s lead product candidate is Descartes-08, an autologous mRNA chimeric antigen receptor T-cell cell therapy (CAR-T) directed against the B cell maturation antigen (BCMA), which is in Phase 2b clinical trials for the treatment of autoimmune diseases, generalized myasthenia gravis, and systemic lupus erythematosus, as well as rare pediatric disease designation for the treatment of juvenile dermatomyositis. It is also developing Descartes-15, which is in phase 1 trials, an autologous autologous B cell maturation antigen (BCMA) directed mRNA CAR-T to treat patients with multiple myeloma. The company is headquartered in Frederick, Maryland.

Industry
Biotechnology
Sector
Healthcare
Headquarters
US
CEO
Carsten Brunn
Listed since
Jun 22, 2016
Employees
75

Market position

Day range

Current $10.04

52-week range

Current $10.04

Open
$10.355
Previous close
$10.23
Volume
163.91K
0.68× average
Average volume
239.87K
Average daily volume
Market cap
294.99M USD
Beta
0.57
Market reference 1
50-day average
$8.9842
+11.75% above average
200-day average
$7.5725
+32.58% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
74.8M USD
P/E (TTM)
-1.69×
P/B (TTM)
-2.36×
P/S (TTM)
199.72×
EV / EBITDA
-0.55×
Earnings yield
-69.58%
Free cash flow yield
-42.40%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
-766.42%
Operating margin
-6679.69%
Net margin
-10422.48%
Return on equity
103.22%
Return on assets
-43.96%
Return on invested capital
-28.36%

Financial health

Debt / equity
-0.51×
Current ratio
8.65×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends576%-1328%-3231%-5134%Gross margin, FY2021: 100.00%Gross margin, FY2022: 98.16%Gross margin, FY2023: 100.00%Gross margin, FY2024: 100.00%Gross margin, FY2025: 100.00%Operating margin, FY2021: -5.40%Operating margin, FY2022: 13.12%Operating margin, FY2023: -332.32%Operating margin, FY2024: -112.81%Operating margin, FY2025: -3099.93%Net margin, FY2021: -30.19%Net margin, FY2022: 31.94%Net margin, FY2023: -844.91%Net margin, FY2024: -198.97%Net margin, FY2025: -4658.63%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 100.00%. Gross margin FY2022 98.16%. Gross margin FY2023 100.00%. Gross margin FY2024 100.00%. Gross margin FY2025 100.00%. Operating margin FY2021 -5.40%. Operating margin FY2022 13.12%. Operating margin FY2023 -332.32%. Operating margin FY2024 -112.81%. Operating margin FY2025 -3099.93%. Net margin FY2021 -30.19%. Net margin FY2022 31.94%. Net margin FY2023 -844.91%. Net margin FY2024 -198.97%. Net margin FY2025 -4658.63%.

Income trends

Revenue

2.8M USD-92.81%

Operating income

−86.71M USD-97.52%

Net income

−130.3M USD-68.30%
Income trends across reported periods143.83M USD11.63M USD−120.56M USD−252.76M USDRevenue, FY2021: 85.08M USDRevenue, FY2022: 110.78M USDRevenue, FY2023: 26M USDRevenue, FY2024: 38.91M USDRevenue, FY2025: 2.8M USDOperating income, FY2021: −4.6M USDOperating income, FY2022: 14.54M USDOperating income, FY2023: −86.42M USDOperating income, FY2024: −43.9M USDOperating income, FY2025: −86.71M USDNet income, FY2021: −25.69M USDNet income, FY2022: 35.38M USDNet income, FY2023: −219.71M USDNet income, FY2024: −77.42M USDNet income, FY2025: −130.3M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 85.08M USD. Revenue FY2022 110.78M USD. Revenue FY2023 26M USD. Revenue FY2024 38.91M USD. Revenue FY2025 2.8M USD. Operating income FY2021 −4.6M USD. Operating income FY2022 14.54M USD. Operating income FY2023 −86.42M USD. Operating income FY2024 −43.9M USD. Operating income FY2025 −86.71M USD. Net income FY2021 −25.69M USD. Net income FY2022 35.38M USD. Net income FY2023 −219.71M USD. Net income FY2024 −77.42M USD. Net income FY2025 −130.3M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue2.8M USD38.91M USD26M USD110.78M USD85.08M USD
Cost of goods sold———2.04M USD—
Gross profit2.8M USD38.91M USD26M USD108.74M USD85.08M USD
Research and development58.03M USD45.11M USD71.26M USD72.38M USD68.74M USD
Selling, general, and administrative31.47M USD30.13M USD40.45M USD23.86M USD20.94M USD
Operating expenses89.5M USD82.81M USD112.42M USD94.2M USD89.67M USD
Interest income6.58M USD7.39M USD4.96M USD——
Interest expense——2.83M USD3.03M USD2.84M USD
Depreciation and amortization2.96M USD1.15M USD843K USD2.04M USD1.72M USD
Operating income−86.71M USD−43.9M USD−86.42M USD14.54M USD−4.6M USD
Net income−130.3M USD−77.42M USD−219.71M USD35.38M USD−25.69M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 7 misses, 0 met estimates
Average EPS surprise
-561.38%
11 comparable reports
Latest EPS result
0.46
Estimate -0.88 · Beat by 152.40%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.66-0.1-0.86-1.62Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Mar 20, 2025: actual -0.59, estimate -0.78, surprise +24.36%, Beat. Q2 2025, reported May 8, 2025: actual -0.68, estimate -0.61, surprise -11.48%, Miss. Q3 2025, reported Aug 7, 2025: actual 0.5, estimate -0.76, surprise +165.79%, Beat. Q4 2025, reported Nov 6, 2025: actual -1.38, estimate -0.81, surprise -70.37%, Miss. Q1 2026, reported Mar 9, 2026: actual -1.38, estimate -0.82, surprise -68.29%, Miss. Q2 2026, reported Apr 30, 2026: actual -1.46, estimate -0.84, surprise -73.81%, Miss. Q3 2026, reported Aug 6, 2026: actual 0.46, estimate -0.878, surprise +152.40%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate -1.02, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.18M809.94K438.12K66.3KQ1 '25MissQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26EstimateQ4 '26Estimate
Q1 2025, reported Mar 20, 2025: actual 759K USD, estimate 1M USD, surprise -24.10%, Miss. Q2 2025, reported May 8, 2025: actual 1.1M USD, estimate 916.67K USD, surprise +20.00%, Beat. Q3 2025, reported Aug 7, 2025: actual 298K USD, estimate 928.57K USD, surprise -67.91%, Miss. Q4 2025, reported Nov 6, 2025: actual 452K USD, estimate 266.33K USD, surprise +69.71%, Beat. Q1 2026, reported Mar 9, 2026: actual 947K USD, estimate 150.33K USD, surprise +529.93%, Beat. Q2 2026, reported Apr 30, 2026: actual 78K USD, estimate 219.8K USD, surprise -64.51%, Miss. Q3 2026, reported Aug 6, 2026: actual —, estimate 179.67K USD, surprise —, Comparison unavailable. Q4 2026, reported Nov 5, 2026: actual —, estimate 150K USD, surprise —, Comparison unavailable.

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ETFs holding RNAC

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
3.41M
Weight
0.00%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
2.94M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Janus Henderson Small Cap Growth Alpha ETF logoJanus Henderson Small Cap Growth Alpha ETFJSML
Market value
1.74M
Weight
0.45%
AUM
373.65M USD
Expense ratio
0.30%
Price / 1D
$90.625+1.48%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
1.32M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
963.9K
Weight
0.01%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%
iShares Micro-Cap ETF logoiShares Micro-Cap ETFIWC
Market value
457.32K
Weight
0.03%
AUM
1.53B USD
Expense ratio
0.60%
Price / 1D
$198.39+1.10%
iShares Russell 2000 Growth ETF logoiShares Russell 2000 Growth ETFIWO
Market value
174.45K
Weight
0.00%
AUM
15.16B USD
Expense ratio
0.24%
Price / 1D
$387.37+1.24%
Invesco NASDAQ Future Gen 200 ETF logoInvesco NASDAQ Future Gen 200 ETFQQQS
Market value
151.72K
Weight
0.67%
AUM
22.98M USD
Expense ratio
0.20%
Price / 1D
$45.0826+1.10%

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