Selecta Biosciences, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 17, 2023 at 07:13 am EDT
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Selecta Biosciences, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 11.39 million compared to net income of USD 8.6 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to basic earnings per share from continuing operations of USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to diluted earnings per share from continuing operations of USD 0.06 a year ago.
For the six months, net loss was USD 33.05 million compared to net income of USD 37.38 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to basic earnings per share from continuing operations of USD 0.27 a year ago. Diluted loss per share from continuing operations was USD 0.22 compared to diluted earnings per share from continuing operations of USD 0.17 a year ago.
Cartesian Therapeutics, Inc. is a clinical-stage company. The Company is engaged in developing messenger ribonucleic acids (mRNA) cell therapies for the treatment of autoimmune diseases. It is leveraging its proprietary technology and manufacturing platform, RNA Armory, to develop mRNA cell therapies for autoimmune diseases. Its lead asset e, Descartes-08, is an autologous mRNA chimeric antigen receptor T-cell therapy (CAR-T) directed against the B cell maturation antigen (BCMA), that the Company is developing for the treatment of autoimmune diseases. Descartes-08 is in Phase II clinical development. Descartes-15 is a next-generation, autologous anti-BCMA mRNA CAR-T. Using its proprietary technology and manufacturing platform, it designed Descartes-15 to be more resistant than Descartes-08 to recycling of the CAR upon multiple antigen exposures. It is developing Descartes-33 to deliver a combination of therapeutic proteins that target key drivers in the pathogenesis of autoimmunity.