Selecta Biosciences, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 12, 2021 at 09:04 am EDT
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Selecta Biosciences, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced operating income was USD 452,000 compared to operating loss of USD 16.367 million a year ago. Net income was USD 4.565 million compared to net loss of USD 24.081 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.25 a year ago. Diluted eps - continuing operations was USD 0 compared to diluted loss per share from continuing operations of USD 0.25 a year ago. For the half year, operating loss was USD 6.706 million compared to USD 35.189 million a year ago. Net loss was USD 20.032 million compared to USD 43.701 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.46 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. 
