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Thursday, May 19, 2022

Cabaletta Bio, Inc. (CABA) Stock Plunged 3.14% Pre-Market, Here’s Why

Cabaletta Bio, Inc. (CABA) stock plummeted 3.14% in the pre-market trading session at the price of $1.54 despite no fundamental developments.


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CABA, headquartered in Philadelphia, is a clinical-stage biotech firm. The stock is centered on the research, development, and commercialization of T-cell therapies to deliver a curative treatment for patients having autoimmune conditions. The CABA pipeline, combined with its proprietary technology, contains potential therapies for patients dealing with Mucosal Pemphigus Vulgaris.

CABA Q4 2021 Earnings Report

On 17th March 2022, CABA published its financial results for the quarter and year ended 31st December 2021. The stock has also delivered its business updates and future outlook.

Research and development costs totaled US$9.9M for Q4 of 2021, compared to US$5.8M for Q4 of 2020. For the year 2021, CABA has R&D expenses of US$32.5M, compared to US$21.4M the prior year. General and administrative costs totaled US$4.0M for Q4 of 2021, compared to US$3.6M for the same quarter of 2020. G&A expenses totaled US$13.8M for the year 2021, compared to US$12.5M last year.

On 31st December 2021, Cabaletta calculated cash of roughly US$122.2M. Cash and cash equivalents totaled US$108.7M on 31st December 2020. This gain resulted from proceeds of US$48.3M from the sales of stock shares under the company’s at-the-market program. The stock believes to have sufficient cash to fund its operating programs till Q3 of 2023.

CABA Business Outlook

CABA stock hopes to publish clinical data from cohorts A-3 and A-4 and safety results for cohort A-5 in the DesCAARTes clinical trial at forthcoming scientific conferences in mid-2022. Additionally, Cabaletta intends to report the clinical updates from its DesCAARTes trial at scientific discussions in the coming year.

Meanwhile, the stock is planning to commence the MusCAARTes clinical trial by 2022 as it advances the target of supplying curative and durable therapies to treat autoimmune diseases. The MuSK-CAART platform has recently acquired Fast Track Designation from the U.S. FDA to enhance the activities of muscles strength in patients.

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