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Cabaletta Bio, Inc.

NASDAQ•CABA
CEO: Dr. Steven A. Nichtberger M.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2019-10-25
Cabaletta Bio, Inc., a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis. It also develops DSG3-CAART, which is in Phase I/II clinical trial for the treatment of mucosal pemphigus vulgaris; and MuSK-CAART, an investigational cell therapy that is in Phase I/II clinical trial for treating patients with anti- muscle-specific kinase antibody positive myasthenia gravis. It has a collaboration with the University of Pennsylvania and the Children's Hospital of Philadelphia; Nanjing IASO Biotherapeutics Co., Ltd; Oxford Biomedica; and WuXi Advanced Therapies, Inc. The company was formerly known as Tycho Therapeutics, Inc. and changed its name to Cabaletta Bio, Inc. in August 2018. Cabaletta Bio, Inc. was incorporated in 2017 and is headquartered in Philadelphia, Pennsylvania.
Contact Information
2929 Arch Street, Suite 600, Philadelphia, PA, 19104, United States
267-759-3100
www.cabalettabio.com
Market Cap
$294.57M
P/E (TTM)
-2.0
17.9
Dividend Yield
--
52W High
$3.78
52W Low
$0.99
52W Range
74%
Rank59Top 87.6%
2.2
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Weak • 2.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2025

Financial Dashboard

Q3 2025 Data

Revenue

$0.00+0.00%
4-Quarter Trend

EPS

-$0.44-30.16%
4-Quarter Trend

FCF

-$34.59M+68.09%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Strong Financing Activity $92.0 M net cash provided by financing activities, driven by June 2025 equity offering, bolstering runway into H2 2026.
R&D Investment Surges Nine-month R&D expenses reached $106.5 M, up $34.8 M, focused heavily on manufacturing scale-up and clinical trial expansion.
Clinical Trials Advance Initiating DM/ASyS registrational cohort in Q4 2025; BLA submission for myositis indication is targeted for 2027.
Cash Position Solidified Total assets stood at $189.8 M as of September 30, 2025, with $160.0 M in cash and short-term investments.

Risk Factors

Going Concern Doubt Remains Substantial doubt exists regarding ability to continue as going concern; requires additional funding beyond H2 2026 cash runway.
Operating Losses Widening Nine-month net loss increased to $(125.9) M from $(83.3) M, reflecting increased operational and development investment.
Manufacturing Supply Reliance Highly dependent on third parties (Penn, Minaris, Lonza) for complex manufacturing; termination risks operational continuity.
Novel Therapy Regulatory Hurdles Novel CAR/CAAR T therapies face uncertain regulatory pathway; potential for stricter post-approval monitoring and labeling restrictions.

Outlook

Registrational Cohort Initiation Initiating DM/ASyS registrational cohort in Q4 2025 based on positive Phase 1/2 data presented in October 2025.
Aligning Future Trial Designs Anticipating alignment with FDA on registrational cohort design for SLE/LN, SSc, and MG studies in Q4 2025/H1 2026.
Continued High R&D Spending Expect R&D expenses to increase substantially for foreseeable future as programs advance through clinical development stages.
Exploring Strategic Alliances Will seek strategic alliances, collaborations, or licensing arrangements to augment development and commercialization efforts globally.

Peer Comparison

Revenue (TTM)

EDIT stock ticker logoEDIT
$40.52M
+25.4%
VYGR stock ticker logoVYGR
$40.37M
-49.5%
IVA stock ticker logoIVA
$32.75M
+15.4%

Gross Margin (Latest Quarter)

PRQR stock ticker logoPRQR
100.0%
+0.0pp
EDIT stock ticker logoEDIT
96.7%
+2621.3pp
VYGR stock ticker logoVYGR
93.2%
+0.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CAPR$1.39B-17.0-71.0%11.5%
VTYX$1.00B-9.4-48.1%4.7%
OMER$793.38M-6.157.3%103.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
N/M
Revenue Volatile
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Deep Research

Next earnings:Mar 30, 2026
|
EPS:-$0.45
|
Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data