GAITHERSBURG, Md., July 08, 2024 (GLOBE NEWSWIRE) -- Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the "Company"), a clinical-stage biotechnology company developing mRNA cell therapies for the treatment of autoimmune diseases, today announced the granting of inducement awards to new employees. On July 1, 2024, the Company issued to these employees options to purchase an aggregate of 35,198 shares of the Company's common stock with an exercise price of $24.27, the closing trading price of the Company's common stock on the Nasdaq Global Market on the date of grant. The options were granted pursuant to the Company's Amended and Restated 2018 Employment Inducement Incentive Award Plan and were approved by the Company's board of directors. Each of the options vest as to 25% on July 1, 2025, and then in three equal annual installments thereafter such that the options will be fully vested on July 1, 2028. Each of the options has a ten-year term. The options were granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to the employee's entry into employment with the Company.
About Cartesian Therapeutics
Cartesian Therapeutics is a clinical-stage company pioneering mRNA cell therapies for the treatment of autoimmune diseases. The Company's lead asset, Descartes-08, is a potential first-in-class mRNA CAR-T in Phase 2b clinical development for patients with generalized myasthenia gravis and Phase 2 development for systematic lupus erythematosus, with a Phase 2 basket trial planned in additional autoimmune indications. The Company's clinical-stage pipeline also includes Descartes-15, a next-generation, autologous anti-BCMA mRNA CAR-T. For more information, please visit www.cartesiantherapeutics.com or follow the Company on LinkedIn or X, formerly known as Twitter.
Investor Contact
Ron Moldaver
Senior Director, Investor Relations & Business Development
ron.moldaver@cartesiantx.com
Media Contact
David Rosen
Argot Partners
david.rosen@argotpartners.com
