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
Market Cap
$490.79M
P/E (TTM)
-1.9
24.5
Dividend Yield
--
52W High
$4.23
52W Low
$1.26
52W Range
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
Q1 2026 Data
Revenue
$0.00+0.00%
4-Quarter Trend
EPS
-$0.39+0.00%
4-Quarter Trend
FCF
-$42.56M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
R&D Spending Increased Significantly Research and development expenses totaled $142.7M USD in 2025, marking a $45.47M USD increase over 2024 figures.
Manufacturing Costs Rose Sharply Manufacturing costs increased $22.7M USD due to expanded cell processing capabilities and readiness activities for commercial supply.
Cash Position Supports 2026 Operations Cash and investments totaled $133.6M USD as of December 31, 2025, sufficient to fund operations into the fourth quarter of 2026.
Registrational Trial Enrollment Started Initiated DM/ASyS registrational cohort in December 2025; durability data for no-preconditioning cohorts expected in the second half of 2026.
Risk Factors
Substantial Going Concern Doubt Substantial doubt exists regarding ability to continue as going concern without securing additional financing beyond the current cash runway into Q4 2026.
Clinical Development Highly Uncertain Early stage development means failure to advance candidates through trials or secure regulatory approval will materially harm the entire business.
Reliance on Third-Party Manufacturers Highly reliant on Minaris, Lonza, and Cellares for supply; termination or disruption of these CDMOs severely impacts clinical trial continuity.
Novel Therapy Safety Scrutiny Novel CAR T approach faces lower tolerance for adverse events than oncology; safety issues could delay approval or limit commercial potential.
Outlook
Scaling Automated Manufacturing Capacity Partnering with Cellares to integrate Cell Shuttle platform, enabling scalable rese-cel production for thousands of patients annually with minimal capital outlay.
Anticipate Future BLA Submission DM/ASyS registrational cohort initiated; anticipate submitting Biologics License Application for rese-cel in myositis indications during 2027.
Developing Non-Preconditioning Approach Evaluating rese-cel without preconditioning in PV and SLE trials, aiming for simpler, more patient-focused alternative for future commercial adoption.
Expect Significant Future Funding Expect substantial additional capital required to fund ongoing clinical trials, potential regulatory filings, and future commercialization efforts.
Peer Comparison
Revenue (TTM)
$38.69M
$36.49M
$15.58M
Gross Margin (Latest Quarter)
91.7%
82.9%
72.3%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| CAPR | $1.18B | -12.9 | -59.3% | 6.5% |
| VTYX | $1.00B | -9.4 | -48.1% | 4.7% |
| OMER | $632.20M | 7.3 | -54.4% | 108.5% |
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
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
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