Cartesian Therapeutics (RNAC)
Market Price (3/15/2026): $7.4 | Market Cap: $192.4 MilSector: Health Care | Industry: Biotechnology
Cartesian Therapeutics (RNAC)
Market Price (3/15/2026): $7.4Market Cap: $192.4 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -68% | Weak multi-year price returns2Y Excs Rtn is -94%, 3Y Excs Rtn is -154% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -84 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -7692% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32% | Expensive valuation multiplesP/SPrice/Sales ratio is 176x | |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more. | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -98%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -44% | |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 939% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5796%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6315% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -29% | ||
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.63 | ||
| Key risksRNAC key risks include [1] significant financial distress and a stated need for substantial additional funding, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -68% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -94%, 3Y Excs Rtn is -154% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -84 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -7692% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 176x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -98%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -44% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 939% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5796%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6315% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -29% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.63 |
| Key risksRNAC key risks include [1] significant financial distress and a stated need for substantial additional funding, Show more. |
Qualitative Assessment
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Cartesian Therapeutics (RNAC) stock has remained largely at the same level since 11/30/2025 because of the following key factors:
1. Mixed Q4 2025 financial results with a strong cash runway balanced investor sentiment. Cartesian Therapeutics reported a Q4 2025 EPS of -$1.38 on March 9, 2026, missing the consensus estimate of -$0.82 by $0.56. However, this was largely offset by revenue of $0.95 million, which exceeded the consensus estimate of $0.10 million. Furthermore, the company maintained a substantial cash position of $126.9 million as of December 31, 2025, projected to fund operations into mid-2027, including the completion of the Phase 3 AURORA trial. This combination of an earnings miss alongside a revenue beat and a robust financial outlook likely created a neutralizing effect on the stock price.
2. Steady advancement of its clinical pipeline provided consistent underlying value. Throughout the period, Cartesian Therapeutics continued to progress its key clinical programs. Notably, enrollment for the randomized Phase 3 AURORA trial of Descartes-08 in myasthenia gravis remained on track with approximately 100 participants. Additionally, the company received FDA acceptance for its Investigational New Drug (IND) application for the Phase 2 TRITON trial in myositis, with initiation expected in the first half of 2026. Positive efficacy signals from the Phase 2 trial of Descartes-08 in systemic lupus erythematosus (SLE) were also announced in November 2025. These ongoing and incremental positive clinical developments helped to support the stock's valuation, preventing sustained declines.
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1. Mixed Q4 2025 financial results with a strong cash runway balanced investor sentiment. Cartesian Therapeutics reported a Q4 2025 EPS of -$1.38 on March 9, 2026, missing the consensus estimate of -$0.82 by $0.56. However, this was largely offset by revenue of $0.95 million, which exceeded the consensus estimate of $0.10 million. Furthermore, the company maintained a substantial cash position of $126.9 million as of December 31, 2025, projected to fund operations into mid-2027, including the completion of the Phase 3 AURORA trial. This combination of an earnings miss alongside a revenue beat and a robust financial outlook likely created a neutralizing effect on the stock price.
2. Steady advancement of its clinical pipeline provided consistent underlying value. Throughout the period, Cartesian Therapeutics continued to progress its key clinical programs. Notably, enrollment for the randomized Phase 3 AURORA trial of Descartes-08 in myasthenia gravis remained on track with approximately 100 participants. Additionally, the company received FDA acceptance for its Investigational New Drug (IND) application for the Phase 2 TRITON trial in myositis, with initiation expected in the first half of 2026. Positive efficacy signals from the Phase 2 trial of Descartes-08 in systemic lupus erythematosus (SLE) were also announced in November 2025. These ongoing and incremental positive clinical developments helped to support the stock's valuation, preventing sustained declines.
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Stock Movement Drivers
Fundamental Drivers
The -1.3% change in RNAC stock from 11/30/2025 to 3/14/2026 was primarily driven by a -1.3% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 3142026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.49 | 7.39 | -1.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1 | 1 | 0.0% |
| P/S Multiple | 178.5 | 176.1 | -1.3% |
| Shares Outstanding (Mil) | 26 | 26 | 0.0% |
| Cumulative Contribution | -1.3% |
Market Drivers
11/30/2025 to 3/14/2026| Return | Correlation | |
|---|---|---|
| RNAC | -1.3% | |
| Market (SPY) | -3.1% | 27.4% |
| Sector (XLV) | -5.0% | 22.8% |
Fundamental Drivers
The -26.5% change in RNAC stock from 8/31/2025 to 3/14/2026 was primarily driven by a -30.8% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 3142026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.05 | 7.39 | -26.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1 | 1 | 6.3% |
| P/S Multiple | 254.5 | 176.1 | -30.8% |
| Shares Outstanding (Mil) | 26 | 26 | -0.1% |
| Cumulative Contribution | -26.5% |
Market Drivers
8/31/2025 to 3/14/2026| Return | Correlation | |
|---|---|---|
| RNAC | -26.5% | |
| Market (SPY) | 3.0% | 25.6% |
| Sector (XLV) | 9.5% | 21.3% |
Fundamental Drivers
The -60.8% change in RNAC stock from 2/28/2025 to 3/14/2026 was primarily driven by a -97.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282025 | 3142026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.84 | 7.39 | -60.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 48 | 1 | -97.7% |
| P/S Multiple | 8.4 | 176.1 | 1987.3% |
| Shares Outstanding (Mil) | 21 | 26 | -17.4% |
| Cumulative Contribution | -60.8% |
Market Drivers
2/28/2025 to 3/14/2026| Return | Correlation | |
|---|---|---|
| RNAC | -60.8% | |
| Market (SPY) | 12.4% | 42.3% |
| Sector (XLV) | 1.9% | 38.1% |
Fundamental Drivers
The -84.9% change in RNAC stock from 2/28/2023 to 3/14/2026 was primarily driven by a -99.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282023 | 3142026 | Change |
|---|---|---|---|
| Stock Price ($) | 48.90 | 7.39 | -84.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 124 | 1 | -99.1% |
| P/S Multiple | 2.0 | 176.1 | 8660.4% |
| Shares Outstanding (Mil) | 5 | 26 | -80.4% |
| Cumulative Contribution | -84.9% |
Market Drivers
2/28/2023 to 3/14/2026| Return | Correlation | |
|---|---|---|
| RNAC | -84.9% | |
| Market (SPY) | 73.4% | 28.0% |
| Sector (XLV) | 23.3% | 20.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RNAC Return | 8% | -65% | -39% | -13% | -60% | 15% | -91% |
| Peers Return | -49% | 22% | 28% | -46% | 11% | 47% | -29% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 80% |
Monthly Win Rates [3] | |||||||
| RNAC Win Rate | 50% | 33% | 33% | 50% | 33% | 67% | |
| Peers Win Rate | 50% | 37% | 50% | 39% | 43% | 73% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| RNAC Max Drawdown | -7% | -79% | -41% | -39% | -64% | -13% | |
| Peers Max Drawdown | -56% | -71% | -46% | -58% | -50% | -7% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -2% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: KYTX, CABA, FATE, ALLO, ACLX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)
How Low Can It Go
| Event | RNAC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -86.8% | -25.4% |
| % Gain to Breakeven | 656.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -66.8% | -33.9% |
| % Gain to Breakeven | 201.3% | 51.3% |
| Time to Breakeven | 322 days | 148 days |
| 2018 Correction | ||
| % Loss | -94.4% | -19.8% |
| % Gain to Breakeven | 1671.2% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
Compare to KYTX, CABA, FATE, ALLO, ACLX
In The Past
Cartesian Therapeutics's stock fell -86.8% during the 2022 Inflation Shock from a high on 2/5/2021. A -86.8% loss requires a 656.7% gain to breakeven.
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About Cartesian Therapeutics (RNAC)
Cartesian Therapeutics, Inc., formerly Selecta Biosciences, Inc., is a clinical-stage company, which is engaged in ribonucleic acid (RNA) cell therapies for the treatment of autoimmune diseases. The Company’s lead asset, Descartes-08, is an RNA-engineered chimeric antigen receptor T-cell therapy (rCAR-T) in Phase IIb clinical development for patients with generalized myasthenia gravis. Descartes-08 is designed to be an autologous anti-BCMA rCAR-T. Descartes-08 is in clinical development for autoimmune diseases, including Myasthenia gravis (MG), a chronic autoimmune disorder that causes disabling muscle weakness and fatigue. Its proprietary technology platform, RNA Armory, is designed to enable precision control and optimization of engineered cells for diverse cell therapies leveraging multiple modalities, including autologous, allogeneic, and in vivo transfection. Orphan Drug Designation by the United States Food and Drug Administration has granted Descartes-08 for the treatment of MG.
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1. It's like a Gilead or Novartis for autoimmune diseases, but leveraging RNA technology to engineer the cell therapies.
2. It's like Moderna or BioNTech, but applying RNA science to engineer living cells for autoimmune therapies.
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- Descartes-08: An RNA-engineered chimeric antigen receptor T-cell therapy (rCAR-T) in Phase IIb clinical development for autoimmune diseases like generalized myasthenia gravis.
- RNA Armory: A proprietary technology platform designed to enable precision control and optimization of engineered cells for diverse cell therapies.
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Cartesian Therapeutics (RNAC) is a clinical-stage biopharmaceutical company focused on developing cell therapies. As such, it does not currently have major commercial customers in the traditional sense, as its lead asset, Descartes-08, is still in Phase IIb clinical development and not yet approved for commercial sale.
However, once its therapies are commercialized, the company's products would primarily be administered to individuals (patients) suffering from specific autoimmune diseases. Based on the provided background, the categories of individuals (patients) that Cartesian Therapeutics aims to serve are:
- Individuals diagnosed with generalized myasthenia gravis (MG): Descartes-08, the company's lead asset, is specifically in Phase IIb clinical development for patients with this chronic autoimmune disorder.
- Individuals diagnosed with other autoimmune diseases: The company description indicates that Descartes-08 is in clinical development for "autoimmune diseases, including Myasthenia gravis (MG)," suggesting a broader potential application for their therapies in other autoimmune conditions.
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- Lonza Group Ltd. (LONN)
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Carsten Brunn, PhD President, Chief Executive Officer, and Chairman, Board of Directors
Carsten Brunn serves as President, Chief Executive Officer, and Chairman of the Board of Directors of Cartesian Therapeutics. Prior to the company's merger with Selecta Biosciences in November 2023, he held the same role at Selecta. Before joining Selecta, he was the President of Pharmaceuticals for the Americas Region at Bayer and a member of the Global Pharmaceutical Executive Committee. He also served as President of Bayer Pharmaceuticals in Japan. Over his 25-year career, he has held senior leadership positions at companies such as Eli Lilly, Novartis, Basilea, and Bausch & Lomb. His career arc has included experience with private equity in Asia.
Blaine Davis Chief Financial Officer
Blaine Davis serves as Chief Financial Officer of Cartesian Therapeutics, bringing over 25 years of executive leadership experience in investor relations, corporate affairs, and sales and marketing within life sciences companies. Before Cartesian's merger with Selecta in November 2023, he was Chief Financial Officer of Selecta. Prior to that, he served as Chief Financial Officer of Protara Therapeutics and as Vice President, Head of Investor Relations and Corporate Communications at Insmed.
Miloš Miljković, MD Chief Medical Officer
Miloš Miljković is the Chief Medical Officer of Cartesian Therapeutics. He is board-certified in hematology, medical oncology, and internal medicine. Previously, he spent over seven years as a Staff Clinician at the National Cancer Institute, where he specialized in early-stage trials in immuno-oncology. Dr. Miljković has served as Principal Investigator on six clinical trials of immunotherapy and targeted agents.
Emily English, PhD Chief Operations Officer
Emily English, PhD, joined Cartesian Therapeutics as Chief Operations Officer in 2021. She is responsible for overseeing the company's Quality Assurance and Quality Control teams and guiding the development and implementation of its Quality Management System. Prior to her role at Cartesian, she was a Venture Partner with a Baltimore family office life science investment firm.
June Seymour Chief Accounting Officer
June Seymour was appointed Chief Accounting Officer of Cartesian Therapeutics, effective October 27, 2025. She brings over 20 years of financial leadership experience in the life sciences sector. Most recently, she served as Senior Vice President of Finance and Accounting at DNAnexus, Inc. Before that, she was Vice President of Finance at Neogene Therapeutics Inc., where she oversaw financial operations during the company's sale to AstraZeneca and subsequent post-acquisition integration. Her experience also includes finance roles at Autolus Ltd. and a senior manager position at Ernst & Young LLP, specializing in U.S. transactions involving European life sciences companies.
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Key Risks to Cartesian Therapeutics (RNAC)
- Clinical Trial Success and Regulatory Approval: Cartesian Therapeutics is a clinical-stage company with its lead asset, Descartes-08, in Phase 3 clinical development for generalized myasthenia gravis and progressing in other autoimmune indications. The company's future success is heavily dependent on the favorable outcomes of these clinical trials and obtaining regulatory approvals from agencies like the FDA. There is no assurance that the positive efficacy and safety results observed in earlier phases will be replicated in larger, late-stage trials, or that the drug will outperform placebo with respect to established primary efficacy endpoints. Delays, unforeseen side effects, or a lack of sufficient efficacy in later trials could significantly impact the company's development timeline and viability. As a biotechnology firm, Cartesian faces inherent risks related to drug development and regulatory approvals.
- Financial Health and Funding: Cartesian Therapeutics has consistently reported recurring losses from operations and negative cash flows, and has not yet generated any product sales revenue. The company expects to continue incurring significant expenses and operating losses for the foreseeable future. While the company's cash resources are expected to support planned operations into mid-2027, its financial strength is rated as poor, with warning signs like an Altman Z-Score implying a risk of bankruptcy. The ability to fund ongoing and future clinical trials and operational needs relies on securing additional capital, which may be challenging given its current financial position and increasing cash burn.
- Manufacturing and Commercialization Challenges for RNA Cell Therapies: Cartesian Therapeutics' RNA-engineered chimeric antigen receptor T-cell therapy (rCAR-T) platform, RNA Armory, involves complex biological manufacturing. Scaling up production for commercialization, ensuring stringent quality control, and establishing a robust supply chain for patient-specific therapies like Descartes-08 present substantial risks. The complexity of biological manufacturing, potential for delays and errors, dependency on third-party laboratories, and competition for manufacturing resources could hinder clinical trials and inflate costs. Meeting consistent regulatory requirements throughout scaling efforts is critical for progress towards commercialization. Furthermore, RNA therapies face challenges related to stability, delivery, and potential immunogenicity, and there is a lack of industry-wide standardization in cell and gene therapy manufacturing.
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nullAI Analysis | Feedback
Cartesian Therapeutics (NASDAQ: RNAC) is developing Descartes-08, an RNA-engineered chimeric antigen receptor T-cell therapy (rCAR-T), for the treatment of autoimmune diseases, with a primary focus on generalized myasthenia gravis (MG) and an expanding focus on myositis.
The addressable market for generalized myasthenia gravis (gMG) treatment is substantial. Globally, the generalized myasthenia gravis segment generated approximately USD 1.3 billion in revenue in 2024. The global market for generalized myasthenia gravis management is anticipated to grow from approximately USD 1.53 billion in 2025 to over USD 3.03 billion by 2035.
In the United States, the myasthenia gravis treatment industry (including generalized MG) was valued at approximately USD 733.3 million in 2024, with another source reporting the US myasthenia gravis market was valued at roughly USD 2.9 billion in 2024 (this figure appears to be for the broader MG market).
Additionally, Cartesian Therapeutics is expanding the development of Descartes-08 into myositis, an underserved market. The global myositis treatment market size is projected to reach USD 1.17 billion by 2037.
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Here are 3-5 expected drivers of future revenue growth for Cartesian Therapeutics (RNAC) over the next 2-3 years:
- Commercialization of Descartes-08 for Myasthenia Gravis (MG): Cartesian Therapeutics' lead asset, Descartes-08, is currently in a pivotal Phase 3 AURORA trial for generalized myasthenia gravis, with enrollment on track for approximately 100 patients. Successful completion of this trial and subsequent regulatory approval and launch would represent a significant new revenue stream, given the favorable safety profile and durable responses observed in earlier trials, supporting outpatient administration. Analysts project substantial annual revenue growth for Cartesian Therapeutics, indicating expectations of product commercialization.
- Expansion of Descartes-08 into Myositis: The company plans to initiate a Phase 2 TRITON trial for Descartes-08 in myositis (including dermatomyositis and antisynthetase syndrome) in the first half of 2026. This program holds the potential for a single pivotal trial, which could expedite its path to market and contribute to revenue growth within the next 2-3 years by addressing an additional autoimmune disease market.
- Advancement of Descartes-08 in Systemic Lupus Erythematosus (SLE) and Pediatric Autoimmune Diseases: Cartesian Therapeutics is also exploring Descartes-08 in other autoimmune indications. An ongoing Phase 2 trial for systemic lupus erythematosus (SLE) is expected to yield data, and a Phase 1/2 HELIOS pediatric basket trial for select autoimmune diseases, including juvenile dermatomyositis (JDM), is actively enrolling. Successful progression and potential future approvals in these areas would broaden the addressable patient population and diversify potential revenue sources for Descartes-08.
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Share Issuance
- In connection with its reverse merger with Selecta Biosciences, Cartesian Therapeutics issued common stock and Series A Preferred Stock as part of a $60.25 million private investment in public equity (PIPE) transaction, completed on December 5, 2023.
- On July 2, 2024, Cartesian Therapeutics announced a PIPE financing expected to generate approximately $130.0 million in gross proceeds through the sale of common stock and Series B Non-Voting Convertible Preferred Stock at $20.00 per share.
- A 1-for-30 reverse stock split of Cartesian's common stock became effective on April 5, 2024, which reduced the number of issued and outstanding shares.
Inbound Investments
- As part of the reverse merger with Selecta Biosciences completed on November 13, 2023, the combined company secured over $110 million in cash reserves, which included a $60 million private investment led by board member Timothy Springer for Series A Preferred Stock.
- Cartesian Therapeutics secured approximately $130.0 million in gross proceeds from a private investment in public equity (PIPE) financing announced on July 2, 2024, with participation from new and existing investors including HBM Healthcare Investments, Invus, Schooner Capital, Surveyor Capital, and Timothy A. Springer.
Capital Expenditures
- For the twelve months ending approximately September 2025, capital expenditures totaled -$5.67 million.
- Capital expenditures were reported as $8.74 million for the fiscal year ending December 31, 2024.
- The company plans to use its cash resources, which were $214.3 million as of December 31, 2024, to fund operations including capital expenditure requirements into mid-2027, primarily for its pipeline programs and general corporate purposes.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Cartesian Therapeutics Earnings Notes | 12/16/2025 | |
| With Cartesian Therapeutics Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02282026 | QDEL | QuidelOrtho | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | CHE | Chemed | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02272026 | LLY | Eli Lilly | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 02202026 | HAE | Haemonetics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 02132026 | IQV | IQVIA | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | -3.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 5.22 |
| Mkt Cap | 0.4 |
| Rev LTM | 1 |
| Op Inc LTM | -168 |
| FCF LTM | -135 |
| FCF 3Y Avg | -92 |
| CFO LTM | -134 |
| CFO 3Y Avg | -91 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -88.5% |
| Rev Chg 3Y Avg | -54.6% |
| Rev Chg Q | -26.4% |
| QoQ Delta Rev Chg LTM | -6.9% |
| Op Mgn LTM | -2,222.4% |
| Op Mgn 3Y Avg | -1,318.9% |
| QoQ Delta Op Mgn LTM | 19.3% |
| CFO/Rev LTM | -1,596.2% |
| CFO/Rev 3Y Avg | -901.9% |
| FCF/Rev LTM | -1,685.8% |
| FCF/Rev 3Y Avg | -936.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.4 |
| P/S | 176.1 |
| P/EBIT | -2.2 |
| P/E | -2.6 |
| P/CFO | -2.8 |
| Total Yield | -38.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -44.4% |
| D/E | 0.1 |
| Net D/E | -0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 18.4% |
| 3M Rtn | 15.8% |
| 6M Rtn | 58.2% |
| 12M Rtn | 41.9% |
| 3Y Rtn | -64.4% |
| 1M Excs Rtn | 21.2% |
| 3M Excs Rtn | 19.5% |
| 6M Excs Rtn | 55.3% |
| 12M Excs Rtn | 15.9% |
| 3Y Excs Rtn | -137.7% |
Price Behavior
Price Behavior
| Market Price | $7.39 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 06/22/2016 | |
| Distance from 52W High | -54.0% | |
| 50 Days | 200 Days | |
| DMA Price | $7.29 | $9.13 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 1.3% | -19.1% |
| 3M | 1YR | |
| Volatility | 101.0% | 90.6% |
| Downside Capture | 236.06 | 262.40 |
| Upside Capture | 189.78 | 136.48 |
| Correlation (SPY) | 29.3% | 42.1% |
RNAC Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.18 | 1.36 | 1.33 | 1.36 | 1.89 | 1.69 |
| Up Beta | 1.43 | 5.00 | 3.59 | 1.19 | 1.84 | 1.53 |
| Down Beta | 0.40 | 2.40 | 3.49 | 2.67 | 2.25 | 1.58 |
| Up Capture | 381% | 53% | -16% | 27% | 103% | 189% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 12 | 23 | 29 | 55 | 109 | 352 |
| Down Capture | 219% | -98% | -29% | 123% | 150% | 113% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 9 | 18 | 32 | 68 | 140 | 382 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RNAC | |
|---|---|---|---|---|
| RNAC | -55.5% | 90.5% | -0.51 | - |
| Sector ETF (XLV) | 5.0% | 17.5% | 0.12 | 38.4% |
| Equity (SPY) | 19.6% | 18.9% | 0.81 | 42.4% |
| Gold (GLD) | 71.9% | 26.3% | 2.05 | 2.8% |
| Commodities (DBC) | 19.3% | 17.3% | 0.89 | 13.6% |
| Real Estate (VNQ) | 6.2% | 16.3% | 0.19 | 33.0% |
| Bitcoin (BTCUSD) | -15.3% | 44.2% | -0.25 | 22.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RNAC | |
|---|---|---|---|---|
| RNAC | -41.2% | 88.4% | -0.20 | - |
| Sector ETF (XLV) | 7.5% | 14.5% | 0.33 | 23.6% |
| Equity (SPY) | 13.1% | 17.0% | 0.61 | 29.6% |
| Gold (GLD) | 24.1% | 17.3% | 1.14 | 4.6% |
| Commodities (DBC) | 11.2% | 19.0% | 0.47 | 3.9% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 23.3% |
| Bitcoin (BTCUSD) | 6.3% | 56.7% | 0.33 | 12.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RNAC | |
|---|---|---|---|---|
| RNAC | -32.9% | 90.6% | -0.02 | - |
| Sector ETF (XLV) | 10.1% | 16.5% | 0.50 | 22.2% |
| Equity (SPY) | 14.5% | 17.9% | 0.70 | 26.3% |
| Gold (GLD) | 14.4% | 15.6% | 0.77 | 3.3% |
| Commodities (DBC) | 8.6% | 17.6% | 0.40 | 8.7% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 19.7% |
| Bitcoin (BTCUSD) | 67.4% | 66.8% | 1.07 | 11.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/9/2026 | 31.7% | ||
| 11/6/2025 | -1.6% | -1.2% | -12.4% |
| 8/7/2025 | -6.6% | 3.8% | -5.7% |
| 3/13/2025 | -5.0% | -11.6% | -40.7% |
| 11/7/2024 | -0.4% | -17.9% | 20.5% |
| 8/8/2024 | -9.4% | -8.0% | -8.7% |
| 3/7/2024 | -8.0% | -21.4% | -36.6% |
| 8/17/2023 | 2.8% | 6.4% | 4.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 5 | 5 |
| # Negative | 10 | 11 | 11 |
| Median Positive | 3.7% | 6.4% | 12.1% |
| Median Negative | -5.8% | -11.6% | -18.4% |
| Max Positive | 31.7% | 57.6% | 20.5% |
| Max Negative | -32.7% | -51.5% | -40.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/13/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/07/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/17/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/02/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/10/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Barabe, Timothy C | Direct | Buy | 12082025 | 6.86 | 30,000 | 205,797 | 372,945 | Form | |
| 2 | Springer, Timothy A | Direct | Buy | 4112025 | 9.43 | 7,373 | 69,517 | 81,356,587 | Form | |
| 3 | Springer, Timothy A | See Footnote | Buy | 4112025 | 9.43 | 41,782 | 393,947 | 5,389,219 | Form | |
| 4 | Springer, Timothy A | Direct | Buy | 4112025 | 10.47 | 8,575 | 89,773 | 90,425,343 | Form | |
| 5 | Springer, Timothy A | See Footnote | Buy | 4112025 | 10.47 | 48,595 | 508,751 | 6,492,735 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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