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Cartesian Therapeutics, Inc. balance sheet

At the end of fiscal 2025, Cartesian Therapeutics, Inc. had total assets of $296m, total liabilities of $423m and shareholders' equity of −$126m. It held $125m in cash against $0 of debt: net cash of $125m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents17325971379013911410677213125148
Receivables—1000571076110
Total current assets—398799429715114414891217129154
Goodwill————————048484848
Total assets—438910144100165160166305435296319
Accounts payable—242110003011
Deferred revenue (current)—121127254120——
Total current liabilities—71411353582722568231521
Long-term debt———————————053
Total debt000—0000000053
Total liabilities—223447509118313772445442423444
Shareholders' equity−88−1165554−58−182394−440−7−126−125
Non-controlling interests and other (assets − liabilities − equity)—137———————301———
Net debt (negative = net cash)−17−32−59−71−37−90−139−114−106−77−213−125−95
Shares outstanding—————————5m—26m30m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Cartesian Therapeutics, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cartesian Therapeutics, Inc.