Quarterly ResultAug 6, 2026, 07:12 AM
Cartesian Q2 Net Income $15.77M; Secures $150M Loan
AI Summary
Cartesian Therapeutics reported a net income of $15.77 million for Q2 2026, or $0.47 per basic share, primarily driven by a $49.2 million gain on the change in fair value of contingent value rights liability. For the six months ended June 30, 2026, the company recorded a net loss of $23.41 million. The company also secured a new loan agreement with K2 HealthVentures for up to $150 million, having drawn $50 million by quarter-end, which is expected to fund operations for at least the next 12 months.
Key Highlights
- Secured new loan agreement for up to $150M with K2 HealthVentures.
- Drew $50M from the K2HV loan agreement by June 30, 2026.
- Q2 2026 net income was $15.77M, or $0.47 per basic share.
- Six-month net loss was $23.41M, or $0.83 per basic share.
- Q2 2026 operating loss increased to $29.16M from $21.81M YoY.
- Cash, cash equivalents, and restricted cash totaled $149.3M.
- Gain on CVR liability was $49.2M for Q2 2026.
- R&D expenses increased to $20.43M in Q2 2026 from $14.87M YoY.
Price Impact
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