Selecta Biosciences, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:31 pm EST
Share
Selecta Biosciences, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 9 million compared to USD 7.89 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to USD 0.05 a year ago.
For the nine months, net loss was USD 42.05 million compared to net income of USD 29.49 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to basic earnings per share from continuing operations of USD 0.21 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to diluted earnings per share from continuing operations of USD 0.15 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.
CARTESIAN THERAPEUTICS, INC. 
