11:16 AM EDT, 07/02/2024 (MT Newswires) -- Cartesian Therapeutics ( RNAC ) said Tuesday a phase 2b trial of its lead product candidate, Descartes-08, in patients with generalized myasthenia gravis met its primary endpoint.

Results showed "statistical significance" in the pre-specified modified intent-to-treat efficacy population, with 71% of patients treated with Descartes-08 showing five-point or greater improvements in MG composite score at month three, compared with 25% of patients treated with placebo, the company said.

Cartesian said Descartes-08 continues to show a favorable safety profile supporting outpatient administration without the need for lymphodepleting chemotherapy, and it was observed to be well tolerated. Myasthenia gravis is an autoimmune disorder that causes disabling muscle weakness and fatigue.

Separately, Cartesian said the first patient has been dosed in a phase 2 trial evaluating Descartes-08 in patients with systematic lupus erythematosus, an autoimmune disease marked by systemic inflammation that impacts multiple organ systems. The study is expected to enroll up to 30 adult patients.

Cartesian also said Tuesday it expects to raise about $130 million through a private investment in public equity financing. The financing is expected to close July 3.

The company's shares were down about 23% in recent trading.

Price: 18.61, Change: -5.66, Percent Change: -23.32