A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
Cartesian Therapeutics, Inc.
RNAC
$205M
Mkt Cap
$7.88
-0.51%
Cartesian Therapeutics, Inc. (RNAC) has a 5-year average return on invested capital (ROIC) of -12.8%. This is below average and may indicate limited pricing power.
Cartesian Therapeutics, Inc. (RNAC) has a market capitalization of $225M. It is classified as a small-cap stock.
Cartesian Therapeutics, Inc. (RNAC) does not currently pay a regular dividend.
Cartesian Therapeutics, Inc. (RNAC) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Cartesian Therapeutics, Inc. (RNAC) generated $-79 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Cartesian Therapeutics, Inc. (RNAC) reported earnings per share (EPS) of $-5.02 in its most recent fiscal year.
Cartesian Therapeutics, Inc. (RNAC) has a return on equity (ROE) of 195.9%. This indicates the company generates strong returns for shareholders.
Item 1. Business Our Corporate History and Background The Company (formerly known as Selecta Biosciences, Inc., or Selecta) was incorporated in Delaware on December 10, 2007, and is headquartered in Frederick, Maryland. On November 13, 2023, the Company and the Delaware corporation which, immediately prior to the Merger (as defined below), was known as Cartesian Therapeutics, Inc., or Old Cartesian, entered into an Agreement and Plan of Merger, or the Merger Agreement, by and among the Company, Sakura Merger Sub I, Inc., a Delaware corporation and a wholly owned subsidiary of the Company, or First Merger Sub, Sakura Merger Sub II, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company, or Second Merger Sub, and Old Cartesian.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.8M | - | 39M | - | 111M | 85M |
| Net Income | -152M | -130M | -77M | -257M | 35M | -26M |
| EPS | $-5.70 | $-5.02 | $-4.49 | $-447.84 | $2.08 | $-1.98 |
| Free Cash Flow | -77M | -79M | -33M | -51M | -33M | -61M |
| ROIC | -40.5% | -48.4% | -10.1% | -28.3% | 25.0% | -2.3% |
| Gross Margin | - | 0.0% | - | - | - | - |
| Debt/Equity | 0.00 | -0.10 | -2.06 | -0.09 | 0.12 | 0.43 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | - |
| Operating Income | -148M | -143M | -44M | -86M | 15M | -4.6M |
| Operating Margin | -8338.9% | - | -112.8% | - | 13.1% | -5.4% |
| ROE | 0.0% | 195.9% | 34.6% | 148.6% | 60.8% | -114.1% |
| Shares Outstanding | 29M | 26M | 17M | 1M | 17M | 13M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 85M | 111M | N/A | 39M | N/A | 1.8M |
| Gross Margin | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | N/A |
| R&D | 10M | 23M | 30M | 45M | 48M | 43M | 55M | 69M | 72M | 71M | 45M | 58M | 63M |
| SG&A | 8.0M | 8.3M | 13M | 19M | 18M | 16M | 19M | 21M | 24M | 40M | 30M | 31M | 30M |
| EBIT | -15M | -25M | -35M | -64M | -65M | -52M | -57M | -4.6M | 15M | -86M | -44M | -143M | -148M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -5.4% | 13.1% | N/A | -112.8% | N/A | -8338.9% |
| Net Income | -16M | -33M | -41M | -65M | -65M | -55M | -69M | -26M | 35M | -257M | -77M | -130M | -152M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -30.2% | 31.9% | N/A | -199.0% | N/A | -8550.6% |
| Non-Recurring | 0 | 0 | -3K | -36K | 81K | -104K | 52K | 0 | 147K | 6.0M | 525K | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | N/M | -59.1% | -38.8% | -109.1% | -115.5% | -41.6% | -27.1% | -2.3% | 25.0% | -28.3% | -10.1% | -48.4% | -40.5% |
| ROE | 20.8% | 31.8% | 132.5% | -122.4% | -281.6% | -659.2% | N/A | -114.1% | 60.8% | 148.6% | 34.6% | 195.9% | 0.0% |
| ROA | -4052.5% | -150.4% | -61.7% | -68.6% | -89.8% | -76.8% | -52.0% | -15.8% | 21.7% | -109.3% | -20.9% | -35.6% | -52.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -13M | -22M | -20M | -52M | -59M | -51M | 35M | -60M | -32M | -51M | -24M | -74M | -73M |
| Free Cash Flow | -13M | -24M | -20M | -53M | -60M | -51M | 34M | -61M | -33M | -51M | -33M | -79M | -77M |
| Owner Earnings | -15M | -27M | -23M | -57M | -66M | -57M | 29M | -69M | -44M | -74M | -33M | -89M | -91M |
| CapEx | 227K | 1.2M | 586K | 733K | 884K | 47K | 815K | 1.1M | 1.2M | 206K | 9.1M | 5.5M | 4.4M |
| Maint. CapEx | 864K | 2.9M | 802K | 750K | 1.0M | 700K | 600K | 600K | 700K | 700K | 2.4M | 4.7M | 7.2M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 215K | 485K | 501K | 0 | 6.7M | 721K | 0 |
| D&A | 864K | 2.9M | 802K | 750K | 1.0M | 700K | 600K | 600K | 700K | 700K | 2.4M | 4.7M | 7.2M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 2.3% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 1.2M | 1.1M | 2.0M | 4.1M | 5.7M | 5.2M | 5.4M | 7.7M | 11M | 23M | 6.6M | 11M | 10M |
| Debt Repayment | 0 | 2.3M | 0 | 13M | 0 | 2.8M | 19M | 0 | 0 | 27M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -17M | -34M | -84M | -84M | -63M | -108M | -103M | -118M | -123M | -38M | -199M | -112M | -119M |
| Cash & Equiv. | 17M | 32M | 59M | 71M | 37M | 90M | 139M | 114M | 106M | 77M | 213M | 125M | 119M |
| Long-Term Debt | 0 | 2.3M | 0 | 13M | 0 | 0 | 25M | 0 | 0 | 27M | 0 | N/A | N/A |
| Debt/Equity | 0.00 | -0.02 | 0.00 | 0.25 | 0.00 | 0.04 | -1.96 | 0.43 | 0.12 | -0.09 | -2.06 | -0.10 | 0.00 |
| Interest Coverage | -27.9 | -26.7 | -27.7 | -52.9 | -43.5 | -34.5 | -36.5 | -1.6 | 4.8 | -30.5 | N/A | N/A | N/A |
| Equity | -88M | -116M | 55M | 52M | -5.4M | 8.4M | -18M | 23M | 94M | -440M | -6.8M | -126M | -148M |
| Total Assets | 404K | 43M | 89M | 101M | 44M | 100M | 165M | 160M | 166M | 305M | 435M | 296M | 288M |
| Total Liabilities | 88M | 22M | 34M | 49M | 50M | 91M | 183M | 137M | 72M | 745M | 442M | 423M | 437M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 151M | 151M | 94M | 94M |
| Retained Earnings | N/A | -112M | -152M | -217M | -280M | -336M | -405M | -430M | -395M | -615M | -692M | -822M | -862M |
| Working Capital | N/A | 32M | 73M | 88M | 6.9M | 62M | 70M | 72M | 123M | 23M | 194M | 114M | 106M |
| Current Assets | N/A | 39M | 87M | 99M | 42M | 97M | 151M | 144M | 148M | 91M | 217M | 129M | 122M |
| Current Liabilities | N/A | 7.3M | 14M | 11M | 35M | 35M | 82M | 72M | 25M | 68M | 23M | 15M | 16M |
| Per Share Data | |||||||||||||
| EPS | -17.64 | -34.04 | -8.75 | -7.20 | -6.57 | -5.49 | -6.12 | -1.98 | 2.08 | -447.84 | -4.49 | -5.02 | -5.70 |
| Owner EPS | -15.92 | -27.77 | -4.85 | -6.27 | -6.62 | -5.68 | 2.56 | -5.30 | -2.56 | -129.49 | -1.89 | -3.44 | -3.17 |
| Book Value | -94.55 | -121.99 | 11.80 | 5.71 | -0.54 | 0.83 | -1.60 | 1.74 | 5.52 | -766.28 | -0.39 | -4.86 | -5.19 |
| Cash Flow/Share | -13.67 | -23.52 | -4.24 | -5.73 | -5.95 | -5.10 | 3.10 | -4.65 | -1.86 | -89.06 | -1.37 | -2.85 | -5.07 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 0.9M | 1.0M | 4.7M | 9.1M | 9.9M | 10.1M | 11.3M | 13.0M | 17.0M | 0.6M | 17.2M | 26.0M | 28.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 9.9 | N/A | N/A | N/A | -1.4 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | 31.7 | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 18.0 | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 3.3 | 4.0 | N/A | 12.4 | N/A | 17.4 | 3.7 | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.4 | 5.2 | N/A | N/A | N/A | 126.7 |
| FCF Yield | N/A | N/A | -11.3% | -25.2% | -24.0% | -49.6% | 10.5% | -15.7% | -9.4% | -8.9% | -9.6% | N/A | -34.4% |
| Market Cap | 0 | N/A | 180M | 209M | 251M | 104M | 324M | 392M | 350M | 575M | 341M | 0 | 225M |
| Avg. Price | 0.00 | N/A | 482.84 | 459.29 | 318.62 | 58.23 | 87.36 | 117.63 | 48.39 | 36.49 | 20.23 | 0.00 | 7.88 |
| Year-End Price | 0.00 | N/A | 515.40 | 307.50 | 87.00 | 68.70 | 96.00 | 100.80 | 29.67 | 22.20 | 19.79 | 0.00 | 7.88 |
Cartesian Therapeutics, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
At current prices, the estimated annualized return to fair value is -17.7%.
The Ledger Terminal provides 12 years of financial data for Cartesian Therapeutics, Inc. (RNAC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Cartesian Therapeutics, Inc. (RNAC) has a book value per share of $-4.86, based on its most recent annual SEC filing.