Cartesian Therapeutics 2025 Q2 Earnings Strong Net Income Amid Revenue Decline

Cartesian Therapeutics (RNAC) reported its fiscal 2025 Q2 earnings on August 7, 2025. The results marked a significant drop in revenue but showed resilience in net income. The company’s guidance and performance align with its long-term strategic initiatives, particularly with the Phase 3 AURORA trial for Descartes-08.

Revenue
Cartesian Therapeutics saw a dramatic 99.1% decline in total revenue to $298,000 in Q2 2025, compared to $33.45 million in Q2 2024. This sharp decrease was attributed to a drop in grant revenue, which was the sole contributor to the company’s earnings during the period.

Earnings/Net Income
Despite the revenue decline, the company reported a net income of $15.89 million in Q2 2025, reflecting a 14.8% increase from $13.84 million in the prior year. However, earnings per share (EPS) fell by 12.1% to $0.51, indicating a mixed performance between profitability and per-share returns. The EPS decline suggests a modest challenge in translating revenue growth into improved earnings per share.

Price Action
The stock of Cartesian Therapeutics has experienced notable volatility in recent trading sessions. Over the latest trading day, the stock price dropped 7.95%. The decline intensified during the most recent full trading week with a 17.72% plunge. Month-to-date, the stock has fallen an additional 6.73%, reflecting ongoing investor caution.

Post-Earnings Price Action Review
The stock’s performance following the earnings report has been mixed. A strategy of buying RNAC when revenue beats expectations and selling after 30 days has yielded a -27.75% return, significantly underperforming the benchmark return of 22.44%. Despite a maximum drawdown of 0.00%—suggesting the strategy avoided losses during the backtest period—the approach has been high-risk, with a Sharpe ratio of -0.38 and volatility of 61.34%. These metrics point to a strategy that carries considerable risk with only moderate potential returns.

CEO Commentary
Carsten Brunn, Ph.D., President and Chief Executive Officer, expressed optimism about the company’s momentum in the second half of 2025. He emphasized the initiation of the Phase 3 AURORA trial for Descartes-08 in myasthenia gravis, noting its potential as an impactful outpatient therapy with no preconditioning. The CEO also highlighted sustained responses from the Phase 2b trial and outlined plans to share preliminary data from the Phase 2 trial in SLE and initiate a pediatric basket trial by year-end, underscoring a confident and forward-looking leadership outlook.

Guidance
Cartesian Therapeutics expects its cash, cash equivalents, and restricted cash of $162.1 million as of June 30, 2025, to fund operations through mid-2027, including the ongoing AURORA trial. The company anticipates preliminary data from the Phase 2 SLE trial in the second half of 2025 and the initiation of a Phase 2 pediatric basket trial by year-end. Additionally, dosing is on track in the Phase 1 trial of Descartes-15, with plans to evaluate it in autoimmune indications following the initial dose escalation.

Additional News
Nigerian news on August 7, 2025, highlighted a range of critical developments. Among the top stories was a report from Punch Newspapers, detailing the arrest of two individuals in Bauchi over the sexual abuse of a 12-year-old boy, underscoring growing concerns over child safety in the region. In business news, Stanbic IBTC announced that 148 customers had won N23 million in its savings promotion, showcasing the bank’s efforts to incentivize financial inclusion. On the political front, prominent Rivers stakeholders urged President Bola Tinubu to halt the ongoing local government elections and reinstate the former governor, Governor Peter Fubara, reflecting the ongoing tensions within the state. In education, the West African Examinations Council (WAEC) faced a crisis as it acknowledged errors in grading, with the Ministry of Education pledging to resolve the issue within 24 hours.