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Jun 30, 2023
Cabaletta Bio Q2 2023 Earnings Report
Cabaletta Bio reported financial results for the second quarter ended June 30, 2023, and provided a business update.
Key Takeaways
Cabaletta Bio reported its Q2 2023 financial results, highlighting the FDA clearance for CABA-201 in myositis and Fast Track Designation in SLE and LN. The company strengthened its balance sheet by closing a $100M public offering, extending its cash runway into the fourth quarter of 2025.
Received second IND application clearance for CABA-201 in myositis.
Granted Fast Track Designation in SLE and LN by FDA.
Raised $93.8 million in net proceeds from public offering.
Cash runway extended into the fourth quarter of 2025.
Cabaletta Bio
Cabaletta Bio
Forward Guidance
Cabaletta Bio expects that its cash, cash equivalents and short-term investments as of June 30, 2023, will enable it to fund its operating plan into the fourth quarter of 2025.