Cartesian Therapeutics (RNAC) Soars 19.33% on Positive Phase 2b Trial Data

Cartesian Therapeutics (RNAC) shares surged by 19.33% today, marking a significant rebound after hitting its lowest level since April 2024, with an intraday decline of 7.04%.

Cartesian Therapeutics recently announced encouraging 12-month data from its Phase 2b trial of Descartes-08, a CAR-T cell therapy designed for myasthenia gravis. The data revealed consistent and competitive efficacy, suggesting a durable response and prolonged beneficial effects, especially in patients who had not previously received biologic treatments. This positions Descartes-08 as a unique and promising option in the market.

Analysts from H.C. Wainwright and Mizuho Securities have maintained their Buy ratings on Cartesian Therapeutics, setting a 12-month price target of $40. These ratings are backed by the promising clinical data, the company's future prospects, and the planned initiation of the Phase 3 AURORA trial, which aims to further evaluate the efficacy of Descartes-08.

In addition to its progress with Descartes-08, Cartesian Therapeutics is expanding its pipeline with ongoing trials in other autoimmune conditions, such as systemic lupus erythematosus. These developments could broaden the therapeutic applications of Descartes-08 and contribute to the optimistic outlook for the company.