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Stocks · Health care · Pharmaceutical Preparations

Cartesian Therapeutics, Inc.

RNAC Clue Score28
United States Fiscal year ends December CIK 0001453687
$7.06 +3.45% Close, 9 Oct 2026
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Price $7.06 +64.45% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue0.2Operating income−63.8Net income−65.3Fiscal year 2018Revenue0.9 +336.2%Operating income−65.0Net income−65.3Fiscal year 2019Revenue6.7 +639.4%Operating income−52.5Net income−55.4EPS, diluted−1.22Fiscal year 2020Revenue16.6 +148.6%Operating income−56.8Net income−68.9EPS, diluted−0.68Fiscal year 2021Revenue85.1 +412.6%Operating income−4.6Net income−25.7EPS, diluted−0.22Fiscal year 2022Revenue110.8 +30.2%Operating income14.5Net income35.4EPS, diluted0.10Fiscal year 2023Revenue26.0 −76.5%Operating income−86.4Net income−219.7 −721.0%EPS, diluted−49.76Fiscal year 2024Revenue38.3 +47.2%Operating income−43.9Net income−77.4EPS, diluted−4.49Fiscal year 2025Revenue0.4 −99.0%Operating income−143.4Net income−130.3EPS, diluted−5.02
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.2 0.9 6.7 16.6 85.1 110.8 26.0 38.3 0.4
Growth +336.2% +639.4% +148.6% +412.6% +30.2% −76.5% +47.2% −99.0%
Operating income −63.8 −65.0 −52.5 −56.8 −4.6 14.5 −86.4 −43.9 −143.4
Net income −65.3 −65.3 −55.4 −68.9 −25.7 35.4 −219.7 −77.4 −130.3
Growth −721.0%
EPS, diluted n/a n/a −1.22 −0.68 −0.22 0.10 −49.76 −4.49 −5.02

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin−30,813.5%Net margin−31,556.0%Free cash flow margin−25,487.4%Fiscal year 2018Operating margin−7,200.7%Net margin−7,235.4%Free cash flow margin−6,649.5%Fiscal year 2019Operating margin−785.6%Net margin−829.0%Free cash flow margin−771.0%Fiscal year 2020Operating margin−342.4%Net margin−415.0%Free cash flow margin205.3%Fiscal year 2021Operating margin−5.4%Net margin−30.2%Free cash flow margin−72.2%Fiscal year 2022Operating margin13.1%Net margin31.9%Free cash flow margin−29.6%Fiscal year 2023Operating margin−332.3%Net margin−844.9%Free cash flow margin−197.5%Fiscal year 2024Operating margin−114.7%Net margin−202.3%Free cash flow margin−85.6%Fiscal year 2025Operating margin−35,851.3%Net margin−32,575.5%Free cash flow margin−19,848.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −30,813.5% −7,200.7% −785.6% −342.4% −5.4% 13.1% −332.3% −114.7% −35,851.3%
Net margin −31,556.0% −7,235.4% −829.0% −415.0% −30.2% 31.9% −844.9% −202.3% −32,575.5%
Free cash flow margin −25,487.4% −6,649.5% −771.0% 205.3% −72.2% −29.6% −197.5% −85.6% −19,848.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−52.0Capital expenditure−0.7Free cash flow−52.8Fiscal year 2018Operating cash flow−59.2Capital expenditure−0.9Free cash flow−60.0Fiscal year 2019Operating cash flow−51.4Capital expenditure−0.0Free cash flow−51.5Fiscal year 2020Operating cash flow34.9Capital expenditure−0.8Free cash flow34.1Fiscal year 2021Operating cash flow−60.4Capital expenditure−1.1Free cash flow−61.5 −280.4%Fiscal year 2022Operating cash flow−31.6Capital expenditure−1.2Free cash flow−32.8Fiscal year 2023Operating cash flow−51.2Capital expenditure−0.2Free cash flow−51.4Fiscal year 2024Operating cash flow−23.7Capital expenditure−9.1Free cash flow−32.8Fiscal year 2025Operating cash flow−73.9Capital expenditure−5.5Free cash flow−79.4
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −52.0 −59.2 −51.4 34.9 −60.4 −31.6 −51.2 −23.7 −73.9
Capital expenditure −0.7 −0.9 −0.0 −0.8 −1.1 −1.2 −0.2 −9.1 −5.5
Free cash flow −52.8 −60.0 −51.5 34.1 −61.5 −32.8 −51.4 −32.8 −79.4
Growth −280.4%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash70.6Shareholders’ equity51.8Fiscal year 2018Cash37.4Shareholders’ equity−5.4Fiscal year 2019Cash89.9Shareholders’ equity8.4Fiscal year 2020Cash138.7Shareholders’ equity−18.0Fiscal year 2021Cash114.1Shareholders’ equity22.5Fiscal year 2022Cash106.4Shareholders’ equity93.8Fiscal year 2023Cash76.9Shareholders’ equity−440.2Fiscal year 2024Cash212.6Shareholders’ equity−6.8Fiscal year 2025Cash125.1Total debt0.0Net cash (debt)125.1Shareholders’ equity−126.2
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 70.6 37.4 89.9 138.7 114.1 106.4 76.9 212.6 125.1
Total debt n/a n/a n/a n/a n/a n/a n/a n/a 0.0
Net cash (debt) n/a n/a n/a n/a n/a n/a n/a n/a 125.1
Shareholders’ equity 51.8 −5.4 8.4 −18.0 22.5 93.8 −440.2 −6.8 −126.2

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020† 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023† 31 Dec 2023 FY2024† 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
0.2 0.9 6.7 16.6 85.1 110.8 26.0 38.3 0.4
Growth +336.2% +639.4% +148.6% +412.6% +30.2% −76.5% +47.2% −99.0%
45.2 47.7 42.7 54.5 68.7 72.4 71.3 45.1 58.0
18.8 18.2 16.4 18.9 20.9 23.9 40.5 30.1 31.5
−63.8 −65.0 −52.5 −56.8 −4.6 14.5 −86.4 −43.9 −143.4
Growth −694.4%
n/a n/a −55.4 −68.9 −9.7 34.8 −238.7 −77.1 −139.5
n/a n/a 0.0 0.0 16.0 −0.6 −19.0 0.3 −9.2
−65.3 −65.3 −55.4 −68.9 −25.7 35.4 −219.7 −77.4 −130.3
Growth −721.0%
Per share
n/a n/a −1.22 −0.68 −0.22 0.24 −49.76 −4.48 −5.02
n/a n/a −1.22 −0.68 −0.22 0.10 −49.76 −4.49 −5.02
Growth −49,860.0%
n/a n/a 45.5 101.2 114.3 144.8 5.2 17.3 26.0
n/a n/a 45.5 101.2 114.3 145.9 5.2 17.4 26.0
Growth +122.2% +13.0% +27.6% −96.5% +235.7% +49.6%

† The diluted share count jumps at 2020 and 2023 and 2024, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 52.5% a year over five years.
  • Operating margin is down 35,508.9 points on five years ago, at -35,851.3%.
  • A net loss in 8 of 9 years on file.