Cartesian Therapeutics, Inc.

RNAC

Cartesian Therapeutics, Inc.

RNAC

Insider Sentiment (TTM):

Last Purchase:2025-12-04Last Sale:2026-01-06Shares Purchased (TTM):30,000Shares Sold (TTM):37,930

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:7,111,887Shares Outstanding:26,855,158Institutional Ownership Pct.:26.48%

Earnings Market Reaction:

Filing Date:2026-08-06Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Series A Preferred Stock	-	0	0	0	-0	0	0	0	-0	1	0	-
Series B Preferred Stock	-	0	0	0	-0	0	0	0	0	0	0	-
Assets
Assets Current
Available For Sale Securities Debt Securities Curr…	-	-	-	-	-	-	-	-	-	-	0	0
Cash And Cash Equivalents At Carrying Value	148	119	125	143	160	180	213	219	87	103	77	80
Accounts Receivable Net Current	0	0	1	1	0	2	1	5	32	2	6	5
Contract With Customer Asset Net Current	-	-	-	-	-	-	0	1	3	2	3	2
Prepaid Expense And Other Assets Current	6	3	3	3	3	3	3	4	2	3	5	3
Assets Current	154	122	129	147	163	185	217	229	125	111	91	90
Property Plant And Equipment Net	11	12	12	12	12	10	10	10	7	2	2	2
Operating Lease Right Of Use Asset	5	5	6	5	5	5	6	14	14	10	10	10
Assets Noncurrent
Indefinite Lived Intangible Assets Excluding Goodw…	94	94	94	151	151	151	151	151	151	151	151	-
Goodwill	48	48	48	48	48	48	48	48	48	48	48	-
Restricted Cash And Cash Equivalents Noncurrent	2	2	2	2	2	2	2	2	2	1	1	1
Other Assets	-	-	-	-	-	-	-	-	-	-	0	0
Equity Securities Without Readily Determinable Fai…	-	-	0	2	2	2	2	2	2	2	2	2
Prepaid Expense And Other Assets Noncurrent	5	6	6	6	-	-	1	-	-	-	-	-
Assets	319	288	296	373	389	409	435	455	348	325	305	106
Liabilities And Stockhold…
Other Assets Noncurrent	-	-	-	-	6	6	1	-	-	-	0	-
Liabilities Current
Accounts Payable Current	1	2	1	2	0	2	0	1	3	3	3	0
Accrued Liabilities Current	-	-	-	-	-	-	-	-	-	-	-	14
Accrued Liabilities And Other Liabilities	15	10	9	8	8	9	12	9	11	10	16	-
Loans Payable Current	-	-	-	-	-	-	-	-	-	-	0	0
Operating Lease Liability Current	4	4	4	4	4	4	3	3	3	2	2	2
Liabilities Current	21	16	15	14	12	15	23	21	26	37	68	20
Contract With Customer Liability Current	-	-	-	-	-	-	0	0	0	0	2	4
Operating Lease Liability Noncurrent	7	8	9	9	10	10	11	12	12	8	9	9
Long Term Loans Payable	-	-	-	-	-	-	-	-	-	-	0	0
Derivative Liabilities Current	-	-	-	-	-	-	0	0	0	0	28	-
Warrants And Rights Outstanding	-	-	-	1	-	-	-	-	-	-	-	13
Deferred Income Tax Liabilities Net	7	7	7	16	16	16	16	16	16	16	16	-
Liabilities	444	437	423	409	391	431	442	455	449	442	445	46
Other Liabilities Noncurr…
Stockholders Equity
Contract With Customer Liability Noncurrent	-	-	-	-	-	-	0	0	0	0	4	4
Preferred Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	725	718	701	699	696	693	690	687	561	559	179	502
Retained Earnings Accumulated Deficit	-846	-862	-822	-730	-694	-710	-692	-682	-658	-671	-615	-437
Accumulated Other Comprehensive Income Loss Net Of…	-5	-5	-5	-5	-5	-5	-5	-5	-5	-5	-5	-5
Stockholders Equity	-125	-148	-126	-36	-3	-22	-7	1	-101	-117	-440	60
Temporary Equity Carrying Amount Attributable To P…	-	-	0	-	-	-	0	0	0	0	297	-
Liabilities And Stockholders Equity	319	288	296	373	389	409	435	455	348	325	305	106
Preferred Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Authorized	9	9	9	9	9	9	9	9	10	9	9	10
Preferred Stock Shares Issued	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Outstanding	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	350	350	350	350	350	350	350	350	350	350	350	350
Common Stock Shares Issued	30	29	26	26	26	26	26	24	18	6	5	5
Shares Outstanding	30	29	26	26	26	26	26	24	18	6	5	5
Temporary Equity Par Or Stated Value Per Share	-	-	-	-	-	-	0	0	0	0	0	-
Temporary Equity Shares Authorized	-	-	-	-	-	-	0	0	0	0	1	-
Temporary Equity Shares Issued	-	-	-	-	-	-	0	0	0	0	0	-
Temporary Equity Shares Outstanding	-	-	0	-	-	-	0	0	0	0	0	-

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10‑Q10‑K

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	8.52%	54.82%	32.80%	-	-	-	-	-	-	-	-	-
2025	-8.25%	2.50%	27.93%	-4.65%	-12.14%	-13.09%	-0.79%	-11.52%	1.19%	-30.60%	-31.04%	-16.41%
2024	49.33%	16.17%	-24.77%	8.47%	32.09%	59.91%	-9.38%	-4.76%	-7.60%	-39.80%	-23.54%	-42.44%
2023	-	-	-	1.79%	-8.93%	2.68%	-17.14%	-29.28%	-19.64%	0.93%	8.85%	27.17%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	7.48	7.65	8.65	10.67	13.33	12.34	9.43	10.70	4.78	3.03	1.33	4.51
Quick Ratio	7.19	7.46	8.45	10.44	13.11	12.15	9.29	10.51	4.70	2.94	1.26	4.33
Working Capital	133.07M	106.09M	114.34M	133.46M	151.14M	170.12M	193.65M	207.73M	98.67M	74.46M	22.52M	69.93M
Leverage & Debt
Debt to Equity	-3.54	-2.95	-3.35	-11.40	-154.90	-19.78	-64.96	604.47	-4.43	-3.78	-1.01	0.76
Interest Coverage TTM	-	-	-	-	-	-	-	-66.21	-23.54	-28.73	-23.73	-16.09
Debt Ratio	1.39	1.51	1.43	1.10	1.01	1.05	1.02	1.00	1.29	1.36	1.46	0.43
Efficiency & Turnover
Asset Turnover TTM	0.01	0.01	0.01	-0.00	-0.00	0.09	0.10	0.17	0.22	0.11	0.11	0.24
Days Sales Outstanding TTM	46.11	149.39	129.65	-4,101.45	-18,947.83	20.96	32.15	37.03	126.24	62.31	87.49	62.48
Receivables Turnover TTM	7.92	2.44	2.82	-0.09	-0.02	17.41	11.35	9.86	2.89	5.86	4.17	5.84
Per Share Metrics
Diluted EPS TTM	-5.09	-5.65	-5.02	-1.68	-1.21	-1.48	-4.46	-11.60	-13.14	-47.08	-42.49	-7.01
Free Cash Flow Per Share TTM	-2.67	-2.88	-3.06	-2.65	-1.71	-1.56	-1.90	-2.25	-3.89	-10.90	-9.93	-7.77
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	-	-	-	-	-	-	-	-	-	-	-	110.54%
Operating Profit Margin TTM	-7,136.38%	-5,980.40%	-5,127.10%	37,043.32%	28,207.05%	-159.70%	-114.69%	-111.60%	-90.55%	-314.15%	-332.32%	-169.63%
Net Profit Margin TTM	-6,977.08%	-6,132.28%	-4,658.63%	17,721.05%	10,273.08%	-116.67%	-202.28%	-519.50%	-432.25%	-983.83%	-844.91%	-104.71%
Growth Metrics
Net Revenue Growth (1Y)	-797.76%	-92.46%	-92.69%	-100.52%	-100.58%	26.75%	47.19%	38.82%	11.11%	-68.68%	-76.53%	-72.13%
Net Income Growth (1Y)	373.89%	296.17%	68.30%	-82.42%	-86.29%	-84.97%	-64.76%	588.73%	567.21%	1,592.15%	-721.02%	-186.66%
EPS Growth (1Y)	317.81%	282.12%	11.95%	-85.49%	-91.18%	-96.86%	-89.45%	65.52%	104.06%	1,497.60%	-679.00%	-185.48%
Valuation Metrics
P/E TTM	-2.02	-1.09	-1.44	-6.07	-8.42	-8.91	-4.00	-1.39	-1.93	-0.41	-0.49	-4.54
P/B TTM	-2.45	-1.12	-1.48	-7.41	-106.82	-15.67	-45.49	460.26	-4.45	-0.90	-0.24	2.72
P/S TTM	141.04	66.73	66.95	-1,075.91	-865.18	10.40	8.08	7.22	8.35	4.08	4.11	4.75
Market Cap	307.05M	165.16M	187.27M	265.75M	269.93M	341.40M	309.43M	346.12M	451.70M	105.57M	106.87M	164.09M
Enterprise Value	157.71M	44.78M	60.39M	120.63M	107.88M	159.29M	95.15M	125.25M	362.81M	778.39K	28.58M	83.11M
Calculated Values
Free Cash Flow TTM	-78.61M	-77.37M	-79.40M	-68.90M	-44.51M	-40.43M	-32.77M	-48.41M	-65.12M	-58.99M	-51.37M	-40.08M
Net Debt	-149.34M	-120.38M	-126.87M	-145.12M	-162.06M	-182.10M	-214.28M	-220.87M	-88.90M	-104.80M	-78.29M	-80.98M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-01-06Sale

Owner: Brunn, Carsten

Title: President and CEO

Shares: 23,766

Price/Share: $6.82

Value: $162,084.12

Shares Owned: 323,530

Relationship: Director,Officer

Ownership: Direct

2026-01-06Sale

Owner: Miljkovic, Milos

Title: Chief Medical Officer

Shares: 3,573

Price/Share: $6.82

Value: $24,367.86

Shares Owned: 58,820

Relationship: Officer

Ownership: Direct

2026-01-06Sale

Owner: Davis, Blaine

Title: Chief Financial Officer

Shares: 10,591

Price/Share: $6.82

Value: $72,230.62

Shares Owned: 121,220

Relationship: Officer

Ownership: Direct

2025-12-04Purchase

Owner: Barabe, Timothy C

Title: -

Shares: 30,000

Price/Share: $6.86

Value: $205,800.00

Shares Owned: 54,366

Relationship: Director

Ownership: Direct

2025-04-11Purchase

Owner: Springer, Timothy A

Title: -

Shares: 6,412

Price/Share: $10.77

Value: $69,057.24

Shares Owned: 8,643,685

Relationship: Director,TenPercentOwner

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-01-06	Brunn, Carsten	Director,Officer	President and CEO	Direct	Sale	23,766	6.82	$162,084.12	323,530	4
2026-01-06	Miljkovic, Milos	Officer	Chief Medical Officer	Direct	Sale	3,573	6.82	$24,367.86	58,820	4
2026-01-06	Davis, Blaine	Officer	Chief Financial Officer	Direct	Sale	10,591	6.82	$72,230.62	121,220	4
2025-12-04	Barabe, Timothy C	Director	-	Direct	Purchase	30,000	6.86	$205,800.00	54,366	4
2025-04-11	Springer, Timothy A	Director,TenPercentOwner	-	Direct	Purchase	6,412	10.77	$69,057.24	8,643,685	4
2025-03-20	Springer, Timothy A	Director,TenPercentOwner	-	Direct	Purchase	54,889	15.59	$855,719.51	8,621,325	4
2025-01-14	Springer, Timothy A	Director,TenPercentOwner	-	Direct	Purchase	4,022	18.00	$72,396.00	8,531,462	4
2025-01-06	English, Emily	Officer	Chief Operations Officer	Direct	Sale	906	16.83	$15,247.98	40,226	4
2025-01-06	Davis, Blaine	Officer	Chief Financial Officer	Direct	Sale	4,028	16.83	$67,791.24	94,811	4
2025-01-06	Miljkovic, Milos	Officer	Chief Medical Officer	Direct	Sale	948	16.83	$15,954.84	35,393	4
2025-01-06	Brunn, Carsten	Director,Officer	President and CEO	Direct	Sale	8,708	16.83	$146,555.64	204,096	4
2025-01-06	Kurtoglu, Metin	Officer	Chief Technology Officer	Direct	Sale	2,458	16.83	$41,368.14	62,258	4
2025-01-06	Jewell, Christopher M	Officer	Chief Scientific Officer	Direct	Sale	1,286	16.83	$21,643.38	53,490	4
2024-12-23	Springer, Timothy A	Director,TenPercentOwner	-	Direct	Purchase	5,181	19.00	$98,439.00	8,507,895	4
2024-12-10	Kurtoglu, Metin	Officer	Chief Technology Officer	Direct	Sale	2,901	24.35	$70,639.35	51,033	4
2024-11-21	Kurtoglu, Metin	Officer	Chief Technology Officer	Direct	Sale	32,789	16.67	$546,592.63	51,033	4
2024-11-18	Kurtoglu, Metin	Officer	Chief Technology Officer	Direct	Sale	34,400	18.38	$632,272.00	51,033	4
2024-11-18	Springer, Timothy A	Director,TenPercentOwner	-	Direct	Purchase	58,295	18.19	$1,060,386.05	8,455,706	4
2024-11-15	Miljkovic, Milos	Officer	Chief Medical Officer	Direct	Sale	20,000	17.14	$342,800.00	18,273	4
2024-11-15	Jewell, Christopher M	Officer	Chief Scientific Officer	Direct	Sale	16,065	17.06	$274,068.90	25,940	4
2024-10-04	Springer, Timothy A	Director,TenPercentOwner	-	Direct	Purchase	80,301	22.80	$1,830,862.80	8,023,766	4
2024-08-12	Barabe, Timothy C	Director	-	Direct	Purchase	7,500	12.70	$95,250.00	21,766	4
2024-08-12	Springer, Timothy A	Director,TenPercentOwner	-	Indirect	Purchase	8,016	12.72	$101,963.52	11,509	4
2024-03-18	Springer, Timothy A	Director,TenPercentOwner	-	Indirect	Purchase	800	0.61	$488.00	104,818	4
2023-09-25	Brunn, Carsten	Director,Officer	President and CEO	Direct	Sale	2,932	1.06	$3,107.92	783,081	4
2023-09-25	Traber, Peter G	Officer	Chief Medical Officer	Direct	Sale	705	1.06	$747.30	451,826	4
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Institutional Ownership

No data available for chart

2026-03-31

26.48%

Inst. Shares: 7,111,887

Shares Outstanding: 26,855,158

2025-12-31

19.57%

Inst. Shares: 5,084,202

Shares Outstanding: 25,973,329

2025-09-30

22.62%

Inst. Shares: 5,881,386

Shares Outstanding: 26,002,892

2025-06-30

24.33%

Inst. Shares: 6,320,057

Shares Outstanding: 25,980,262

2025-03-31

25.26%

Inst. Shares: 6,542,546

Shares Outstanding: 25,902,650

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	7,111,887	26,855,158	26.48%
2025-12-31	5,084,202	25,973,329	19.57%
2025-09-30	5,881,386	26,002,892	22.62%
2025-06-30	6,320,057	25,980,262	24.33%
2025-03-31	6,542,546	25,902,650	25.26%
2024-12-31	6,637,319	17,276,822	38.42%
2024-09-30	6,844,053	21,471,408	31.88%
2024-06-30	3,035,083	16,723,479	18.15%
2024-03-31	50,634,554	5,414,020	-
2023-12-31	41,318,294	5,170,319	-
2023-09-30	41,033,960	5,160,150	-
2023-06-30	39,686,353	5,114,747	-
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Cartesian Therapeutics, Inc. (RNAC) — SEC Financial Statements & Analysis

Cartesian Therapeutics, Inc. (RNAC) is a pharmaceutical preparations company, incorporated in DE. Cartesian Therapeutics, Inc. trades on Nasdaq as: RNAC. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Cartesian Therapeutics, Inc. reported a -797.76% year-over-year revenue growth, a Gross Profit Margin of 110.54% (TTM), a Debt-to-Equity ratio of -3.54x, a Price-to-Sales (P/S) ratio of 141.04x (TTM), a Price-to-Book (P/B) ratio of -2.45x (TTM), at a market cap of $307.05M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: -797.76%
Gross Profit Margin TTM: 110.54%
Debt To Equity: -3.54x
P/S TTM: 141.04x
P/B TTM: -2.45x
Market Cap: $307.05M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Cartesian Therapeutics, Inc. in?

Cartesian Therapeutics, Inc. (RNAC) operates in the Pharmaceutical Preparations industry.

What is RNAC's market cap?

Cartesian Therapeutics, Inc. (RNAC) has a market capitalization of $307.05M as of 2026-06-30.

What exchange does RNAC trade on?

Cartesian Therapeutics, Inc. (RNAC) trades on the Nasdaq.

Where is Cartesian Therapeutics, Inc. incorporated?

Cartesian Therapeutics, Inc. is incorporated in DE.