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Side-by-side financial comparison of Cartesian Therapeutics, Inc. (RNAC) and Alaunos Therapeutics, Inc. (TCRT). Click either name above to swap in a different company.
Alaunos Therapeutics, Inc. produced more free cash flow last quarter ($-3.0M vs $-18.2M). Over the past eight quarters, Alaunos Therapeutics, Inc.'s revenue compounded faster (73.2% CAGR vs -100.0%).
Cartesian Therapeutics is a clinical-stage biopharmaceutical company specializing in RNA-engineered cell therapies for oncology, autoimmune disorders and rare diseases. It operates primarily in the U.S. market, focusing on next-generation CAR-T and immune cell therapies, advancing multiple candidates through mid-stage clinical trials with leading medical research partners.
Alaunos Therapeutics, Inc. is a clinical-stage biotechnology company that develops novel T cell receptor (TCR) immunotherapies for the treatment of hard-to-treat solid tumors. The firm focuses on advancing precision oncology candidates targeting shared tumor antigens, serving global oncology patient populations via internal R&D and cross-sector partnerships.
RNAC vs TCRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $0 | $3.0K |
| Net Profit | $-92.6M | — |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | — | — |
| Revenue YoY | — | -40.0% |
| Net Profit YoY | -802.9% | -20.5% |
| EPS (diluted) | $-3.46 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $0 | $3.0K | ||
| Q3 25 | $0 | $0 | ||
| Q2 25 | $0 | $0 | ||
| Q1 25 | — | $2.0K | ||
| Q4 24 | $-836.0K | $5.0K | ||
| Q3 24 | $0 | $0 | ||
| Q2 24 | $33.3M | $4.0K | ||
| Q1 24 | $5.8M | $1.0K |
| Q4 25 | $-92.6M | — | ||
| Q3 25 | $-35.9M | $-1.2M | ||
| Q2 25 | $15.9M | $-1.1M | ||
| Q1 25 | — | $-1.1M | ||
| Q4 24 | $-10.3M | — | ||
| Q3 24 | $-24.2M | $-1.1M | ||
| Q2 24 | $13.8M | $-1.1M | ||
| Q1 24 | $-56.8M | $-1.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -54600.0% | ||
| Q4 24 | 3197.5% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.3% | -29150.0% | ||
| Q1 24 | -228.6% | -174200.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -53650.0% | ||
| Q4 24 | 1226.4% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.6% | -28225.0% | ||
| Q1 24 | -973.0% | -168200.0% |
| Q4 25 | $-3.46 | — | ||
| Q3 25 | $-1.38 | $-0.55 | ||
| Q2 25 | $0.50 | $-0.63 | ||
| Q1 25 | — | $-0.67 | ||
| Q4 24 | $6.60 | — | ||
| Q3 24 | $-1.13 | $-0.70 | ||
| Q2 24 | $0.54 | $-0.71 | ||
| Q1 24 | $-10.50 | $-1.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $125.1M | $1.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-126.2M | $2.2M |
| Total Assets | $296.4M | $3.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.1M | $1.4M | ||
| Q3 25 | $143.4M | $1.9M | ||
| Q2 25 | $160.3M | $2.9M | ||
| Q1 25 | — | $319.0K | ||
| Q4 24 | $212.6M | $1.1M | ||
| Q3 24 | $219.2M | $1.7M | ||
| Q2 24 | $87.2M | $2.5M | ||
| Q1 24 | $103.4M | $4.1M |
| Q4 25 | $-126.2M | $2.2M | ||
| Q3 25 | $-35.8M | $2.8M | ||
| Q2 25 | $-2.5M | $3.7M | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | $-6.8M | $2.1M | ||
| Q3 24 | $752.0K | $2.7M | ||
| Q2 24 | $-101.5M | $3.8M | ||
| Q1 24 | $-116.8M | $4.8M |
| Q4 25 | $296.4M | $3.0M | ||
| Q3 25 | $372.7M | $3.7M | ||
| Q2 25 | $388.9M | $4.7M | ||
| Q1 25 | — | $2.1M | ||
| Q4 24 | $435.0M | $2.8M | ||
| Q3 24 | $455.3M | $3.5M | ||
| Q2 24 | $347.7M | $4.7M | ||
| Q1 24 | $325.2M | $6.0M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-17.7M | $-2.9M |
| Free Cash FlowOCF − Capex | $-18.2M | $-3.0M |
| FCF MarginFCF / Revenue | — | -98900.0% |
| Capex IntensityCapex / Revenue | — | 3266.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-62.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-17.7M | $-2.9M | ||
| Q3 25 | $-15.6M | $-844.0K | ||
| Q2 25 | $-17.5M | $-701.0K | ||
| Q1 25 | — | $-772.0K | ||
| Q4 24 | $-7.0M | $-5.0M | ||
| Q3 24 | $13.7M | $-781.0K | ||
| Q2 24 | $-14.4M | $-1.7M | ||
| Q1 24 | $-15.9M | $-1.9M |
| Q4 25 | $-18.2M | $-3.0M | ||
| Q3 25 | $-16.9M | — | ||
| Q2 25 | $-20.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-7.7M | — | ||
| Q3 24 | $7.5M | — | ||
| Q2 24 | $-16.0M | — | ||
| Q1 24 | $-16.5M | — |
| Q4 25 | — | -98900.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 921.9% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -48.2% | — | ||
| Q1 24 | -282.9% | — |
| Q4 25 | — | 3266.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -84.3% | 0.0% | ||
| Q3 24 | — | — | ||
| Q2 24 | 4.8% | 0.0% | ||
| Q1 24 | 10.3% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1.10× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.04× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
