Cartesian's Autoimmune Disorder Candidate Hits Primary Goal In Mid-Stage Study, Announces Equity Raise Of $130M
Portfolio Pulse from Vandana Singh
Cartesian Therapeutics Inc (NASDAQ:RNAC) announced positive Phase 2b trial results for its autoimmune disorder candidate Descartes-08, achieving primary endpoints with statistical significance. The company also announced a $130 million equity raise. Despite the positive trial results, RNAC shares are down 17.6% in premarket trading.
July 02, 2024 | 12:51 pm
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Cartesian Therapeutics announced positive Phase 2b trial results for Descartes-08, achieving primary endpoints with statistical significance. The company also announced a $130 million equity raise. Despite the positive trial results, RNAC shares are down 17.6% in premarket trading.
The positive Phase 2b trial results for Descartes-08 are a significant milestone for Cartesian Therapeutics, indicating potential efficacy and safety of the treatment. The $130 million equity raise provides additional capital for further development. However, the 17.6% drop in premarket trading suggests investor concerns, possibly about dilution or other financial aspects.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100