The transactions were carried out to satisfy withholding tax obligations upon the vesting of restricted stock units and to cover related broker fees. InvestingPro subscribers have access to 7 additional key insights about RNAC's financial health and valuation metrics. Following these sales, English now holds 40,226 shares of Cartesian Therapeutics directly.
The transactions were carried out to satisfy withholding tax obligations upon the vesting of restricted stock units and to cover related broker fees. InvestingPro subscribers have access to 7 additional key insights about RNAC's financial health and valuation metrics. Following these sales, English now holds 40,226 shares of Cartesian Therapeutics directly.
In other recent news, Cartesian Therapeutics has been the subject of several key developments. The biotech firm has reported significant results from its Phase 2b trial of Descartes-08, a treatment for generalized myasthenia gravis (MG), showing a 71% improvement in MG Composite scores compared to a 25% improvement in the placebo group. Cartesian has also converted its Series B Non-Voting Convertible Preferred Stock into common stock, resulting in 23,893,525 shares of Common Stock issued and outstanding.
Analyst firms have shown confidence in Cartesian's progress. BTIG initiated a Buy rating on Cartesian's stock, citing the company's innovative approach in developing mRNA-based CAR-T cell therapies. H.C. Wainwright adjusted its outlook on the company, raising its price target from $41.00 to $45.00 and maintaining a Buy rating. Similarly, Mizuho (NYSE:MFG) reaffirmed its Outperform rating, highlighting the competitive edge of Descartes-08.
In addition to the Phase 2b trial, Cartesian provided updates on its Phase 2a open-label trial, which showed positive results from participants who received a second treatment cycle of Descartes-08. The company's announcement came alongside a conference call and webcast featuring Cartesian's management team and Dr. James F. Howard Jr., Professor of Neurology at the University of North Carolina School of Medicine and investigator in the Phase 2b trial. These are the recent developments for Cartesian Therapeutics.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.