Cartesian Therapeutics Announces New Employment Inducement Grant
March 05 2024 - 7:05AM
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 an inducement award to a new employee. On March 1,
2024, the Company issued to this employee an option to purchase
375,000 shares of the Company’s common stock with an exercise price
of $0.69, the closing trading price of the Company’s common stock
on the Nasdaq Global Market on the date of grant. This option was
granted pursuant to the Company’s Amended and Restated 2018
Employment Inducement Incentive Award Plan and was approved by the
Company’s board of directors. The option vests as to 25% on March
1, 2025, and then in three equal installments thereafter such that
the option will be fully vested on March 1, 2028. The option has a
ten-year term. The option was 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 developing 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.
Additional Phase 2 studies are planned in systemic lupus
erythematosus under an allowed IND, as well as basket trials 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.
Contact Information:Investor
Relations:Melissa ForstArgot
Partnerscartesian@argotpartners.com
Media:David RosenArgot
Partnersdavid.rosen@argotpartners.com
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