FREDERICK, Md., May 30, 2025 (GLOBE NEWSWIRE) -- Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (“Cartesian” or the “Company”), a clinical-stage biotechnology company pioneering cell therapy for autoimmune diseases, today announced that the first participant has been enrolled in its Phase 3 AURORA trial of Descartes-08 in patients with myasthenia gravis (MG). Descartes-08, Cartesian’s lead cell therapy candidate, is an autologous engineered chimeric antigen receptor T-cell therapy (CAR-T) product candidate tar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-37798 Cartesian Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 26-1622110 (I.R.S. Empl ...

Exhibit 99.1 Cartesian Therapeutics Reports First Quarter 2025 Financial Results and Provides Business Update Initiation of Phase 3 AURORA trial of Descartes-08 in myasthenia gravis expected in 2Q25; deep and sustained benefits observed through Month 12 after a single course of therapy in Phase 2b trial Preliminary data from Phase 2 trial of Descartes-08 in systemic lupus erythematosus expected in 2H25 Initiation of Phase 2 pediatric basket trial of Descartes-08 in select autoimmune indications expected in ...

Initiation of Phase 3 AURORA trial of Descartes-08 in myasthenia gravis expected in 2Q25; deep and sustained benefits observed through Month 12 after a single course of therapy in Phase 2b trial Preliminary data from Phase 2 trial of Descartes-08 in systemic lupus erythematosus expected in 2H25 Initiation of Phase 2 pediatric basket trial of Descartes-08 in select autoimmune indications expected in 2H25 Approximately $182.1 million cash, cash equivalents and restricted cash as of March 31, 2025 expected t ...

Core Insights - Cartesian Therapeutics announced positive 12-month efficacy and safety data from the Phase 2b trial of Descartes-08 for generalized myasthenia gravis (MG) [2][4] - Descartes-08 demonstrated sustained symptom improvement with an average reduction of 4.8 points in MG Activities of Daily Living (MG-ADL) at Month 12 [6][8] - The therapy showed particularly strong results in participants without prior exposure to biologic therapies, achieving an average 7.1-point reduction in MG-ADL [10] Efficacy Results - In the Phase 2b trial, participants receiving Descartes-08 experienced deep responses, with an average MG-ADL reduction of 5.5 at Month 4 and 4.8 at Month 12 [6][4] - 83% of evaluable participants maintained a clinically meaningful response through Month 12, defined as a reduction of at least 2 points in MG-ADL [6] - Among participants without prior biologic therapy, 100% maintained a clinically meaningful response through Month 12 [10] Safety Profile - Descartes-08 was well-tolerated, with no new adverse events reported during the 12-month follow-up [10] - Common side effects included transient infusion-related reactions such as fever (60%), chills (60%), headache (55%), and nausea (45%), all resolving within 24 hours [10] - No cases of cytokine release syndrome (CRS) or immune effector cell-associated neurotoxicity syndrome (ICANS) were reported [10] Future Developments - The Phase 3 AURORA trial is set to dose the first patient in the second quarter of 2025, following FDA agreement on the trial design [8][10] - Descartes-08 has received Regenerative Medicine Advanced Therapy (RMAT) and Orphan Drug Designations from the FDA for the treatment of MG [12][8] - The company aims to transform the treatment landscape for MG with Descartes-08, offering a safe and durable outpatient therapy option [8][10]

Core Insights - Cartesian Therapeutics announced positive 12-month efficacy and safety data from the Phase 2b trial of Descartes-08 for generalized myasthenia gravis (MG), showing sustained symptom improvement in participants [2][4][9] - Descartes-08 demonstrated a significant average reduction in MG-ADL scores, particularly in patients without prior biologic therapy, indicating its potential as a transformative treatment option [9][11] Efficacy Results - Participants treated with Descartes-08 experienced an average MG-ADL reduction of 4.8 points at Month 12, with deeper responses observed over time [7][11] - In the subgroup of participants without prior biologic therapy, the average MG-ADL reduction was 7.1 points at Month 12, with 57% maintaining minimum symptom expression [11] - 83% of evaluable participants maintained a clinically meaningful response through Month 12, defined as a reduction of at least 2 points in MG-ADL [7] Safety Profile - The safety profile of Descartes-08 was consistent with previously reported data, supporting its outpatient administration without the need for preconditioning chemotherapy [4][10] - Adverse events were mostly mild and transient, with no new adverse events reported during the 12-month follow-up [10][11] Future Development - The Phase 3 AURORA trial is on track to dose the first patient in the second quarter of 2025, with the trial design accepted by the FDA under the Special Protocol Assessment process [9][14] - Descartes-08 has received Regenerative Medicine Advanced Therapy and Orphan Drug Designations from the FDA, highlighting its potential in treating MG [9][13]

Core Insights - Cartesian Therapeutics, Inc. is a clinical-stage biotechnology company focused on mRNA cell therapies for autoimmune diseases [3] - The company will participate in the 24th Annual Needham Virtual Healthcare Conference on April 8, 2025 [1] Company Overview - Cartesian Therapeutics is pioneering mRNA CAR-T therapies, with its lead asset Descartes-08 entering Phase 3 clinical development for generalized myasthenia gravis and Phase 2 for systemic lupus erythematosus [3] - Descartes-08 has received FDA agreement under the Special Protocol Assessment for its Phase 3 trial [3] - The company also has Descartes-15, an autologous anti-BCMA mRNA CAR-T in Phase 1 trial for multiple myeloma [3] Event Information - A live webcast of the conference presentation will be available on the company's website, along with an archived replay for a limited time [2]

Clinical Trials and Efficacy - The company reported an average MG-ADL reduction of 5.5 points at Month 4 in a Phase 2b trial for myasthenia gravis, with 80% of participants maintaining a clinically meaningful response at Month 12[17]. - In the Phase 2b trial, 71% of patients treated with Descartes-08 showed a 5-point or greater improvement in MG Composite score at Month 3 compared to 25% in the placebo group (p=0.018)[25]. - The Phase 2a trial results indicated that 33% of participants without prior biologic therapy achieved minimum symptom expression at Month 6[27]. - After six weekly infusions of Descartes-08, patients showed an average MG-ADL reduction of 5.5 points and an average MGC reduction of 7.1 points, both exceeding clinically meaningful thresholds[60]. - 80% of participants who reached Month 12 maintained clinically meaningful responses, with 57% of those with no prior exposure to biologic therapy achieving minimal symptom expression at Month 6[63]. - The Phase 1/2 trial of Descartes-08 in MG has shown it to be well-tolerated, with no serious product-related adverse events reported[54]. - The most common product-related adverse events were headache (35%), chills (40%), and fever (35%), all of which were self-limited[65]. - The company is also developing Descartes-08 for systemic lupus erythematosus, with a data readout expected in the second half of 2025[32]. - A multi-center open-label Phase 2 trial for Descartes-08 in systemic lupus erythematosus (SLE) has been initiated, with preliminary data expected in the second half of 2025[68]. Regulatory Designations and Approvals - Descartes-08 has received Orphan Drug Designation and RMAT Designation from the FDA for the treatment of myasthenia gravis, as well as Rare Pediatric Disease Designation for juvenile dermatomyositis[24]. - The FDA granted a priority review voucher program for Descartes-08 if approved for juvenile dermatomyositis, which could expedite future marketing applications[33]. - Descartes-08 has received Orphan Drug Designation and RMAT Designation for the treatment of Myasthenia Gravis (MG)[117]. - Descartes-08 has also received RMAT designation, facilitating an efficient development program for the treatment of MG[123]. - The FDA requires a Biologics License Application (BLA) to include results from product development, laboratory and animal trials, human trials, and manufacturing information before commercial marketing can begin[108]. - The FDA aims to review 90% of standard BLAs within 10 months and 90% of priority BLAs within 6 months from the filing date[113]. - The FDA may impose clinical holds on a biological product candidate at any time due to safety concerns or non-compliance with regulatory requirements[98]. - The FDA requires safety and efficacy to be demonstrated in two adequate and well-controlled clinical trials before approving new therapeutic products[179]. Manufacturing and Development - The main manufacturing facility is located in Frederick, Maryland, which has sufficient capacity to support current clinical needs and can transition to commercial manufacturing of mRNA cell therapies[71]. - Descartes-08 is manufactured in-house, with the ability to process and release lots for infusion within approximately three weeks, optimized through over 200 cGMP runs[72]. - The company is expanding its manufacturing capabilities, incurring significant costs, and may need to rely on third-party manufacturers[202]. - Manufacturing challenges, including reliance on third-party laboratories for quality control, could delay clinical trials and increase expenses[204]. - The company must comply with FDA and foreign regulatory authority requirements for manufacturing, and failure to do so could delay regulatory approvals[207]. Financial and Market Considerations - The company expects to incur losses for the foreseeable future and may never achieve profitability[171]. - Coverage and reimbursement for pharmaceutical products depend on third-party payors, including government authorities and private insurers, impacting sales post-regulatory approval[152]. - The company may face challenges in achieving sufficient market acceptance, which is critical for generating significant product revenues and profitability[215]. - The company must effectively compete with other therapies and ensure adequate reimbursement from third-party payors for its products[28]. - The company is subject to various risks, including stockholder litigation and challenges in protecting proprietary technology[171]. - The Inflation Reduction Act of 2022 may significantly affect the pharmaceutical industry, potentially reducing prices and reimbursement rates for approved products[159]. - The EU's health technology assessment regulation may complicate pricing negotiations and reimbursement approvals for the company's products[155]. - The company anticipates that political, economic, and regulatory developments may further complicate pricing negotiations in the EU[156]. Competitive Landscape - The biotechnology industry is characterized by intense competition, with potential competitors having greater financial resources and established market presence[87]. - Descartes-08 may compete with products from companies like Argenx SE and Johnson & Johnson in the MG market[90]. - The company regards its mRNA-modified products as cell therapy products, subject to regulation as "biologics" in the U.S.[93]. Risks and Challenges - The company may face increased product development costs due to delays in clinical testing or obtaining marketing approvals[182]. - Delays in clinical trials could result from various factors, including unfavorable results, safety concerns, or inability to recruit suitable patients[180]. - Undesirable side effects from product candidates could lead to regulatory delays or market acceptance issues if approved[192]. - The company faces significant risks related to drug-related side effects that could impact patient enrollment and completion of clinical trials, potentially harming its business and financial condition[196]. - If product candidates receive marketing approval but later show undesirable side effects, it could lead to market acceptance issues and significantly harm business prospects[197]. - Inadequate funding for the FDA may hinder its ability to review and approve new products, affecting the company's operations and regulatory submissions[198]. - Disruptions at the FDA could increase the time required for drug approvals, adversely affecting the company's business[199]. - The company has not yet demonstrated the ability to successfully complete any Phase 3 clinical trials or obtain regulatory approvals[171]. Intellectual Property - As of December 31, 2024, the company holds seven issued patents worldwide, with expiration dates ranging from 2040 to 2044, and has 13 pending patent applications[73]. - The company may experience challenges in maintaining patent protection and regulatory exclusivity for its product candidates[28].

Financial Performance - The net loss for the year ended December 31, 2024, was $(77.4) million, or $(4.48) net loss per share, compared to a net loss of $(219.7) million, or $(49.76) net loss per share in 2023[10]. - Total revenue for the year ended December 31, 2024, was $38,913,000, representing a 49% increase from $26,004,000 in 2023[19]. - The operating loss narrowed to $43,897,000 in 2024 from $86,416,000 in 2023, reflecting a reduction of approximately 49%[19]. - The company reported a change in fair value of contingent value right liability of $(36,900,000) in 2024, compared to $(18,300,000) in 2023, indicating increased liability[19]. Expenses - Research and development expenses for the year ended December 31, 2024, were $45.1 million, a decrease from $71.3 million in 2023, primarily due to restructuring and strategic reprioritization[9]. - General and administrative expenses decreased to $30.1 million for the year ended December 31, 2024, down from $40.5 million in 2023, attributed to reductions in stock compensation and professional fees related to the merger[9]. - Research and development expenses decreased to $45,105,000 in 2024 from $71,260,000 in 2023, a reduction of approximately 37%[19]. - General and administrative expenses also decreased to $30,126,000 in 2024 from $40,450,000 in 2023, a decline of about 26%[19]. Cash and Assets - As of December 31, 2024, Cartesian Therapeutics reported approximately $214.3 million in cash, cash equivalents, and restricted cash, expected to support operations into mid-2027, including the completion of the Phase 3 AURORA trial[2][9]. - Cash and cash equivalents increased significantly to $212,610,000 as of December 31, 2024, compared to $76,911,000 in 2023, marking a growth of 176%[17]. - Total assets rose to $435,023,000 in 2024 from $305,050,000 in 2023, an increase of about 42%[17]. - Total current liabilities decreased to $22,976,000 in 2024 from $68,209,000 in 2023, a reduction of approximately 66%[17]. Clinical Trials and Developments - The Phase 3 AURORA trial of Descartes-08 in myasthenia gravis is set to commence in the first half of 2025, with a primary endpoint assessing improvement in MG Activities of Daily Living (MG-ADL) score[4][3]. - Preliminary data from the ongoing Phase 2 trial of Descartes-08 in systemic lupus erythematosus is expected in the second half of 2025[8]. - The Phase 2 pediatric basket trial of Descartes-08 in select autoimmune diseases is anticipated to initiate in the second half of 2025[8]. - The Phase 2b trial of Descartes-08 in myasthenia gravis showed an average MG-ADL reduction of 5.5 at Month 4, with 80% of evaluable participants maintaining a clinically meaningful response through Month 12[5][4]. - Dosing is currently underway in the first-in-human Phase 1 trial of Descartes-15, a next-generation mRNA CAR-T therapy targeting multiple myeloma[8]. - Cartesian Therapeutics has received written agreement from the FDA under the Special Protocol Assessment process for the Phase 3 AURORA trial design, indicating a clear path toward potential approval[4][3]. Shareholder Information - The weighted-average common shares outstanding increased to 17,276,822 in 2024 from 5,170,319 in 2023, reflecting a significant increase in share issuance[19].

Core Insights - Cartesian Therapeutics is advancing its mRNA cell therapy pipeline, particularly focusing on Descartes-08 for autoimmune diseases, with significant progress expected in 2025 [3][4][13] Pipeline Progress and Milestones - The Phase 3 AURORA trial of Descartes-08 in myasthenia gravis (MG) is set to commence in the first half of 2025, with a design approved by the FDA under the Special Protocol Assessment (SPA) [4][11] - The trial will involve approximately 100 participants and aims to assess the efficacy of Descartes-08 compared to placebo, focusing on improvements in MG Activities of Daily Living (MG-ADL) scores [4] - Positive results from the Phase 2b trial of Descartes-08 showed an average MG-ADL reduction of 5.5 points at Month 4, with 80% of participants maintaining a clinically meaningful response at Month 12 [4][10] - Ongoing Phase 2 trials for Descartes-08 in systemic lupus erythematosus (SLE) are expected to yield preliminary data in the second half of 2025, alongside a planned Phase 2 pediatric basket trial targeting various autoimmune conditions [3][4][9] Financial Overview - As of December 31, 2024, the company reported approximately $214.3 million in cash and equivalents, expected to support operations through mid-2027 [2][10] - Research and development expenses decreased to $45.1 million in 2024 from $71.3 million in 2023, attributed to restructuring and strategic reprioritization [10][20] - The net loss for 2024 was $(77.4) million, a significant reduction from $(219.7) million in 2023, reflecting improved financial management [10][21] Corporate Updates - Emily English has been promoted to Chief Operations Officer, contributing to the expansion of the company's manufacturing capabilities [6] - Cartesian Therapeutics continues to focus on outpatient administration of its therapies, eliminating the need for preconditioning chemotherapy, which is a significant advantage over traditional CAR-T therapies [11][12]