RNAC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $7.36
Market Cap (MRQ) $221M
P/E (TTM) -1.3
EPS (TTM) $-5.84
Revenue (TTM) $1M
ROE (TTM) 237.8%
Debt/Equity (MRQ) -0.4
52W Range $6–$11

RNAC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
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Stock splits 1
Ex-date Split Type
April 5, 2024 1-for-30 Reverse

About Cartesian Therapeutics, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata
sectorHealthcare industryBiotechnology employees75 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$3M
2017-12-31 → 2025-12-31
EPS$-5.02
2019-12-31 → 2025-12-31
Free Cash Flow$-79M
2017-12-31 → 2025-12-31
Net margin-10283.8%
2017-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend RNAC 5Y avg Peer Median Verdict
P/E (TTM) -1.35Y avg ≈-22.3 ≈-22.3 · ·
P/S (TTM) 149.75Y avg ≈63.6 ≈63.6 36.6 Overvalued
P/B (MRQ) -1.85Y avg ≈-5.4 ≈-5.4 · ·
Price / FCF (TTM) -2.85Y avg ≈-59.9 ≈-59.9 · ·
Price / Cash Flow (TTM) -2.95Y avg ≈-62.9 ≈-62.9 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise -16.2%
Next Report Nov 04, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 5, 2026 $0.61 $-0.89 168.9%
March 31, 2026 May 7, 2026 $-1.46 $-0.90 -62.0%
Dec. 31, 2025 $-3.57 $-0.87 -310.2%
Sept. 30, 2025 $-1.38 $-0.86 -60.1%
June 30, 2025 $0.50 $-0.83 160.5%
March 31, 2025 $-0.68 $-0.72 5.5%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 16
Metric Trend 20252024202320222021202020192018201720162015
Revenue $3M$39M$26M$111M$85M$17M$7M$903.0K·$8M$6M
R&D Expense $58M$45M$71M$72M$69M$55M$43M$48M·$30M$23M
SG&A Expense $31M$30M$40M$24M$21M$19M$16M$18M·$13M$8M
Operating Expenses $146M$83M$112M$96M$90M$73M$59M$66M·$43M$31M
Operating Income $-143M$-44M$-86M$15M$-5M$-57M$-52M$-65M·$-35M$-25M
Interest Expense ··$3M$3M$3M$2M$2M$1M·$1M$948.0K
Interest Income $7M$7M$5M········
Other Non-op $-2M$606.0K$691.0K$330.0K$15.0K$89.0K$-1M$10.0K·$4.0K$-26.0K
Pretax Income $-139M$-77M$-239M$35M$-10M$-69M$-55M····
Income Tax $-9M$287.0K$-19M$-609.0K$16M$0$0····
Net Income $-130M$-77M$-220M$35M$-26M$-69M$-55M$-65M·$-36M$-25M
EPS (Basic) $-5.02$-4.48$-49.76$0.24$-0.22$-0.68$-1.22····
EPS (Diluted) $-5.02$-4.49$-49.76$0.10$-0.22$-0.68$-1.22····
Shares (Basic) 25,973,32917,276,8225,170,319144,758,555114,328,798101,202,17645,548,511····
Shares (Diluted) 25,973,32917,357,9435,170,319145,874,889114,328,798101,202,17645,548,511····
EBITDA $-143M$-44M$-86M$15M·$-57M$-52M$-65M·$-35M·
Balance Sheet 26
Metric Trend 20252024202320222021202020192018201720162015
Cash & Equivalents $125M$213M$77M$106M$114M$139M$90M$37M·$59M$32M
Short-term Investments ·······$0$26M$25M$4M
Receivables $1M$872.0K$6M$7M$10M$7M$5M$0$63.0K$215.0K$824.0K
Prepaid Expense $3M$3M$5M$4M$6M$5M$1M$5M$2M$2M$1M
Other Current Assets ·······$80.0K···
Current Assets $129M$217M$91M$148M$144M$151M$97M$42M$99M$87M$39M
PP&E (Net) $12M$10M$2M$3M$2M$1M$1M$2M$2M$2M$2M
PP&E (Gross) $17M$12M$8M$8M$7M$6M$6M$7M·$6M$5M
Accum. Depreciation $5M$2M$6M$5M$5M$4M$5M$5M·$4M$3M
Goodwill $48M$48M$48M$0·······
Other Non-current Assets ·$518.0K$0······$122.0K$2M
Total Assets $296M$435M$305M$166M$160M$165M$100M$44M$101M$89M$43M
Accounts Payable $1M$288.0K$3M$316.0K$224.0K$443.0K$500.0K$1M$2M$4M$2M
Accrued Liabilities $9M$12M$15M$14M$11M$8M$13M$12M$9M$4M$3M
Current Liabilities $15M$23M$68M$25M$72M$82M$35M$35M$11M$14M$7M
Capital Leases $9M$11M$9M$10M$9M$10M$0····
Deferred Tax $7M$16M$16M$0·······
Other Non-current Liabilities ······$0$938.0K$1M$0$290.0K
Total Liabilities $423M$442M$445M$72M$137M$183M$91M$50M$47M$34M$22M
Common Stock $3.0K$3.0K$1.0K$15.0K$12.0K$11.0K$9.0K$3.0K$3.0K$1.0K$0
Paid-in Capital $701M$690M$179M$493M$457M$391M$349M$280M$273M$211M$1.0K
Retained Earnings $-822M$-692M$-615M$-395M$-430M$-405M$-336M$-280M$-215M$-152M$-112M
AOCI $-5M$-5M$-5M$-5M$-5M$-5M$-5M$-5M$-4M$-5M$-5M
Stockholders' Equity $-126M$-7M$-440M$94M$23M$-18M$8M$-5M$54M$55M$-116M
Liabilities + Equity $296M$435M$305M$166M$160M$165M$100M$44M$101M$89M$43M
Shares Outstanding 26,011,10625,767,3695,397,5975,101,459123,622,965108,071,24986,325,54722,471,776·18,438,7422,173,399
Cash Flow 14
Metric Trend 20252024202320222021202020192018201720162015
Stock-based Comp $11M$7M$23M$11M$8M$5M$5M$6M···
Deferred Tax $-9M$287.0K$-19M$0$0··$0···
Restructuring $0$798.0K$6M········
Operating Cash Flow $-74M$-24M$-51M$-32M$-60M$35M$-51M$-59M·$-20M$-22M
CapEx $5M$9M$206.0K$1M$1M$815.0K$47.0K$884.0K·$586.0K$1M
Investing Cash Flow $-5M$-9M$35M$-15M$-17M$-741.0K$229.0K$25M·$-22M$-5M
Debt Issued ···$0$0$25M$0$0···
Net Debt Issued ·$0$-27M$0·$5M$-3M$0·$0·
Stock Issued ···$2M$52M$2M$31M$0·$3M$0
Net Stock Activity ···$2M··$31M$0·$3M·
Financing Cash Flow $-8M$168M$-13M$39M$53M$14M$105M$697.0K·$68M$44M
Net Change in Cash $-87M$136M$-30M$-7M$-25M$49M$54M$-33M·$26M$16M
Free Cash Flow $-79M$-33M$-51M$-33M·$34M$-51M$-60M·$-20M·
Levered FCF ··$-54M$-36M·······
Profitability 7
Metric Trend 20252024202320222021202020192018201720162015
Operating Margin -5127.1%-112.8%-332.3%13.1%·-342.4%-785.6%-7200.7%·-428.9%·
Net Margin -4658.6%-199.0%-844.9%31.9%·-415.0%-829.0%-7235.4%·-448.0%·
Pretax Margin -4987.3%-198.2%-918.0%31.4%·······
EBITDA Margin -5127.1%-112.8%-332.3%13.1%·-342.4%-785.6%-7200.7%·-428.9%·
ROA -35.6%-20.9%-93.3%21.7%·-52.0%-76.8%··-54.8%·
ROE 202.4%2559.5%115.7%39.6%·542.6%-3179.2%··117.7%·
ROIC 106.1%647.8%18.1%15.8%·······
Liquidity & Solvency 3
Metric Trend 20252024202320222021202020192018201720162015
Current Ratio 8.79.41.35.9·1.92.8··6.3·
Quick Ratio 8.59.31.24.5·1.82.7··6.2·
Interest Coverage ··-30.54.8·-36.5-34.5-43.5·-27.7·
Efficiency 2
Metric Trend 20252024202320222021202020192018201720162015
Asset Turnover 0.00.10.10.7·0.10.1··0.1·
Receivables Turnover 2.811.54.213.4·2.72.7··15.6·
Per Share 5
Metric Trend 20252024202320222021202020192018201720162015
Book Value / Share $-4.85$-0.26$-2.72$0.61·$-0.17$0.10··$2.98·
Revenue / Share $0.11$2.24$0.17$0.76·······
Cash Flow / Share $-2.85$-1.36$-0.33$-0.22·······
Cash / Share $4.81$8.25$0.47$0.70·$1.28$1.04··$3.18·
EPS (TTM) $-5.02$-4.49$-49.76$0.10$-0.22$-0.68$-1.22····
Growth Rates 3
Metric Trend 20252024202320222021202020192018201720162015
Revenue YoY -92.8%49.6%-76.5%30.2%412.6%······
Revenue CAGR 3Y -70.7%-22.9%16.2%········
Revenue CAGR 5Y -30.0%··········
Valuation (TTM) 10
Metric Trend 20252024202320222021202020192018201720162015
Revenue TTM $3M$39M$26M$111M$85M$17M$7M$903.0K·$8M·
Net Income TTM $-130M$-77M$-220M$35M$-26M$-69M$-55M$-65M·$-36M·
Market Cap $188M$461M$3.35B$5.19B·$9.82B$6.16B··$9.49B·
P/E -1.4-4.0-0.4339.0-444.5-133.7-58.5····
P/S 67.111.9128.746.8·591.9923.1··1173.7·
P/B -1.5-67.8-7.655.3·-545.6734.0··172.6·
P / Tangible Book ···55.3536.8······
P / Cash Flow -2.5-19.5-65.4-164.0·281.6-119.8··-482.0·
P / FCF -2.4-14.1-65.2-158.0·288.4-119.7··-468.0·
Earnings Yield -69.6%-25.1%-240.7%0.29%-0.22%-0.75%-1.7%····

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $3M $39M $26M $111M $85M
Operating Margin % -5127.1% -112.8% -332.3% 13.1% ·
Net Income $-130M $-77M $-220M $35M $-26M
Diluted EPS $-5.02 $-4.49 $-49.76 $0.10 $-0.22

Institutional owners (13F) 101 filers · $93.7M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 101
Value held $93.7M
New positions 27
Exited positions 11
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
27 (-1 vs prior Q) 11 (-1 vs prior Q) 44 (+16 vs prior Q) 12 (-2 vs prior Q) +1.5M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
Squarepoint Ops LLC $23,493,130 2,254,619 25.08% Shares
BlackRock, Inc. $8,536,469 819,239 9.11% Shares
683 Capital Management, LLC $6,773,001 650,000 7.23% Shares
VANGUARD CAPITAL MANAGEMENT LLC $5,791,676 555,823 6.18% Shares
VANGUARD GROUP INC $3,902,253 541,228 4.17% Shares
FMR LLC $3,839,030 368,429 4.10% Shares
GEODE CAPITAL MANAGEMENT, LLC $3,715,412 356,525 3.97% Shares
AQR CAPITAL MANAGEMENT LLC $3,714,267 356,456 3.96% Shares
MILLENNIUM MANAGEMENT LLC $3,229,023 309,887 3.45% Shares
TWO SIGMA INVESTMENTS, LP $3,087,373 296,293 3.30% Shares
STATE STREET CORP $2,596,789 249,212 2.77% Shares
MARSHALL WACE, LLP $2,427,018 232,919 2.59% Shares
UBS Group AG $2,174,102 208,647 2.32% Shares
Privium Fund Management B.V. $1,580,454 151,675 1.69% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,351,474 129,700 1.44% Call option
NORTHERN TRUST CORP $1,101,373 105,698 1.18% Shares
ADAR1 Capital Management, LLC $1,030,298 98,877 1.10% Shares
VANGUARD FIDUCIARY TRUST CO $957,119 91,854 1.02% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $909,843 87,317 0.97% Shares
DIADEMA PARTNERS LP $907,134 87,057 0.97% Shares
BANK OF AMERICA CORP /DE/ $881,782 84,624 0.94% Shares
Walleye Capital LLC $852,648 81,828 0.91% Shares
GOLDMAN SACHS GROUP INC $839,560 80,572 0.90% Shares
Jump Financial, LLC $696,056 66,800 0.74% Shares
BNP PARIBAS FINANCIAL MARKETS $666,640 63,977 0.71% Shares
Nuveen, LLC $661,191 63,454 0.71% Shares
CM Management, LLC $625,200 60,000 0.67% Shares
Point72 Asset Management, L.P. $454,590 43,627 0.49% Shares
Trexquant Investment LP $427,699 41,046 0.46% Shares
BRIDGEWAY CAPITAL MANAGEMENT, LLC $338,650 32,500 0.36% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $335,191 32,168 0.36% Shares
Bank of New York Mellon Corp $331,523 31,816 0.35% Shares
D. E. Shaw & Co., Inc. $298,543 28,651 0.32% Shares
Atlatl Advisers LLC $297,064 28,509 0.32% Shares
IEQ CAPITAL, LLC $264,835 25,416 0.28% Shares
TWIN FOCUS CAPITAL PARTNERS, LLC $260,500 25,000 0.28% Shares
Persistent Asset Partners Ltd $231,230 22,191 0.25% Shares
Miller Financial Services LLC $230,730 22,143 0.25% Shares
Erste Asset Management GmbH $227,176 23,566 0.24% Shares
Ikarian Capital, LLC $216,809 20,807 0.23% Shares
Invesco Ltd. $215,559 20,687 0.23% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $212,568 20,400 0.23% Put option
RENAISSANCE TECHNOLOGIES LLC $211,526 20,300 0.23% Shares
XTX Topco Ltd $202,096 19,395 0.22% Shares
Brevan Howard Capital Management LP $201,783 19,365 0.22% Shares
TWO SIGMA ADVISERS, LP $178,866 24,808 0.19% Shares
Cerity Partners LLC $175,557 16,848 0.19% Shares
Mariner, LLC $154,334 14,813 0.16% Shares
JANE STREET GROUP, LLC $141,712 13,600 0.15% Call option
RHUMBLINE ADVISERS $140,589 13,493 0.15% Shares

Show all 101 institutional owners →

Activists & 5%+ owners 5 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Murat Kalayoglu, Seven One Eight Three Four Irrevocable Trust, Elizabeth Hoge, Sinan Kalayoglu ×4 filings April 2, 2026 19.90% Amendment · SEC
Timothy A. Springer, TAS Partners LLC, Chafen Lu ×20 filings Jan. 15, 2025 36.90% Amendment · SEC
Michael Singer, Thirsty Brook 2010 Irrevocable Trust, Singer Asefzadeh Family Holding Trust, Bakezilla 2019 Irrevocable Trust, Baharak Asefzadeh, Barbara P. Martin ×2 filings April 10, 2024 · Initial filing · SEC
Polaris Venture Partners V, L.P. (“PVP V”), Polaris Venture Partners Entrepreneurs’ Fund V, L.P. (“PVPE V”), Polaris Venture Partners Founders’ Fund V, L.P. (“PVPFF V”), Polaris Venture Partners Special Founders’ Fund V, L.P. (“PVPSFF V”), Polaris Venture Management Co. V, L.L.C. (“PVM V”), Jonathan A. Flint, Terrance G. McGuire, Amir Nashat ×5 filings Feb. 12, 2020 · Initial filing · SEC
OrbiMed Advisors LLC, OrbiMed Capital GP III LLC ×6 filings Feb. 5, 2020 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 39 insiders · 21 officers · 18 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Carsten Brunn President and CEO Jan. 6, 2026 S 323,530 0 1 $-162,084
Werner Cautreels President and CEO Nov. 13, 2017 P 321,203 0 0 $0
Blaine Davis Chief Financial Officer Jan. 6, 2026 S 121,220 0 1 $-72,231
Kevin Tan Chief Financial Officer Jan. 3, 2022 A 77,000 0 0 $0
Bradford D. Dahms Chief Financial Officer Jan. 4, 2021 A 38,000 0 0 $0
John Harold Leaman CFO, Treas. & Hd Corp Strategy June 15, 2018 A · 0 0 $0
David Siewers CFO and Treasurer Sept. 20, 2017 M 0 0 0 $0
Milos Miljkovic Chief Medical Officer Jan. 6, 2026 S 58,820 0 1 $-24,368
June Ann Seymour Chief Accounting Officer Jan. 2, 2026 A 6,500 0 0 $0
Emily English Chief Operations Officer Jan. 2, 2026 A 94,226 0 0 $0
Christopher M Jewell Chief Scientific Officer Jan. 10, 2025 M 62,490 0 0 $0
Metin Kurtoglu Chief Technology Officer Jan. 6, 2025 S 62,258 0 0 $0
Peter G Traber Chief Medical Officer Sept. 25, 2023 S 451,826 0 0 $0
Takashi Kei Kishimoto Chief Scientific Officer May 31, 2023 G 225,316 0 0 $0
Lloyd P. Johnston Chief Operations Officer Jan. 5, 2023 S 265,515 0 0 $0
Alison D. Schecter Chief Medical Officer Jan. 2, 2020 A · 0 0 $0
Stephen Smolinski Chief Commercial Officer Jan. 2, 2020 A 13,812 0 0 $0
Elona Kogan Esq. General Counsel Jan. 2, 2020 A 182,872 0 0 $0
David Abraham GC, CCO & Corporate Secretary June 15, 2018 A 5,405 0 0 $0
Earl Sands Chief Medical Officer Nov. 17, 2017 P 7,500 0 0 $0
Peter Keller Chief Business Officer July 7, 2017 A 405 0 0 $0
Michael Singer Director March 13, 2026 G 49,578 0 0 $0
Kemal Malik Director Jan. 2, 2026 A 11,133 0 0 $0
Nishan M Desilva Director Jan. 2, 2026 A 11,366 0 0 $0
Timothy C Barabe Director Jan. 2, 2026 A 56,966 1 0 $205,800
ZENNER PATRICK J Director Jan. 2, 2026 A 12,974 0 0 $0
Timothy A. Springer Director Jan. 2, 2026 A 8,646,285 0 0 $0
Adrian Ion Bot Director Dec. 16, 2025 A 5,800 0 0 $0
COX CARRIE SMITH Director Jan. 2, 2025 A 15,629 0 0 $0
Aymeric Sallin Director Jan. 2, 2024 A 178,000 0 0 $0
Scott Dunseth Myers Director Nov. 13, 2023 D 80,845 0 0 $0
ANDO GORAN Director Jan. 2, 2023 A · 0 0 $0
Omid Farokhzad Director June 14, 2019 A 83,333 0 0 $0
Amir Nashat Director June 14, 2019 A 2,676,234 0 0 $0
Peter Barton Hutt Director June 15, 2018 A · 0 0 $0
Edwin M Kania JR Director May 16, 2017 S 560,067 0 0 $0
GORDON CARL L Director June 27, 2016 C 1,825,415 0 0 $0
Murat Kalayoglu 10% owner April 2, 2026 M 5,313,261 0 0 $0
RUSNANO 10% owner June 27, 2016 C 1,476,177 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 13 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
JSML · Janus Detroit Street Trust 0.42% 195,163 NS July 31, 2026 N-PORT
QQQS · Invesco Exchange-Traded Fund Trust … 0.41% 12,916 SH Oct. 2, 2026 Daily
IWC · iShares Trust 0.03% 43,834 SH Sept. 11, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 10,285 SH Aug. 19, 2026 Daily
IWM · iShares Trust 0.00% 332,444 SH Sept. 11, 2026 Daily
RSSL · Global X Funds 0.00% 6,280 NS July 31, 2026 N-PORT
IWO · iShares Trust 0.00% 17,053 SH Sept. 11, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.00% 169,730 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 376,309 SH Aug. 19, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.00% 74,975 SH Aug. 19, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS 0.00% 1,441 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 616 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 94,295 SH Sept. 11, 2026 Daily

RNAC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 14 analysts BUY
Median target $38.50 +423.1%
5 35.7% Strong Buy
8 57.1% Buy
1 7.1% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

6 analysts · 2026-09-28

Mean target $33.67 +357.4%

← Below all targets Current price $7.36
Low$16.00 Mean$33.67 High$44.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
RNAC $188M -1.4 -92.8% -4658.6% 202.4% ·
MGNX $102M -1.4 -0.31% -49.9% -87.0% ·
LYEL $654M -1.9 -41.0% -762355.6% -100.3% ·
KROS $398M 8.9 · 35.7% 17.2% ·
SION $1.84B -21.9 · · -23.4% ·
TRDA $394M -3.0 -87.9% -565.5% -41.9% ·
WHWK $114M -7.3 -72.5% -288.3% -13.4% ·
ALEC $172M -1.1 -79.1% -679.2% -280.7% ·
ELDN $114M -2.9 · · -69.4% ·

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Aug 6, 2026