Cartesian Therapeutics, Inc. (RNAC)
CIK 1453687 · all EDGAR filings →
Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.
Shares outstanding over time
Latest: 30.3M shares as of Jul 31, 2026 (10-Q). Share count fell from 161.9M to 17.8M between Mar 1, 2024 and May 3, 2024, a pattern consistent with a reverse split (roughly 1-for-9); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.
Cash runway
Funded — but tight
~24 months of cash · watch
Full breakdown: cash runway tool · source filing →
Warrants
| Tranche | Warrants | Exercise price | Term | Notes |
|---|---|---|---|---|
| A2022 Warrants | not tagged | not tagged | 0.8y | — |
Tranches exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.
Warrants outstanding: 692,272 underlying shares, as reported Jun 30, 2026 (10-Q).
Reported exercise price: $46.76 (aggregate figure as tagged; individual tranches vary).
Balance-sheet fair value of warrants: $165,000 as of Jun 30, 2026.
Rough fully diluted estimate: 30.9M = 30.3M O/S + 692,272 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.
Convertible notes
| Note | Principal | Carrying | Conv. price | Rate | If converted |
|---|---|---|---|---|---|
| Loan and Security Agreement | $50.0M | $53.5M | $1 | — | ~50.0M sh |
If every note above converted at its tagged price: ~50.0M new shares on 30.3M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.
Notes exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.
Fully diluted build-up
Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.
| Shares outstanding | 30.3M | Jul 31, 2026 |
| + Warrants (aggregate, as tagged) (if exercised) | 692,272 | Jun 30, 2026 |
| + Loan and Security Agreement (if fully converted) | 50.0M | Jun 30, 2026 |
| Fully diluted estimate | 80.9M | +167.5% vs O/S |
Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.
Registrations and offerings
Last 12 months: 1 executed · 0 registered.
Full history and shelf status: offering checker · S-3 shelf checker
Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.
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