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Sep 30, 2023
Cabaletta Bio Q3 2023 Earnings Report
Reported financial results for the third quarter ended September 30, 2023, and provided a business update.
Key Takeaways
Cabaletta Bio reported its third quarter 2023 financial results, highlighting the expansion of its CABA-201 clinical development program and progress towards initial clinical data in lupus and myositis trials, while also noting that cash, cash equivalents, and short-term investments are expected to support operations into the fourth quarter of 2025.
Initial clinical data from CABA-201 treated patients in Phase 1/2 trials for lupus and/or myositis expected in the first half of 2024, with the first lupus clinical site actively recruiting patients.
Expanded CABA-201 clinical development program within rheumatology and into neurology with additional IND clearances in systemic sclerosis and generalized myasthenia gravis.
CABA-201 now being evaluated in four concurrent Phase 1/2 studies, each with an initial dose of 1 x 106 cells/kg and a parallel cohort design to accelerate development.
Cash, cash equivalents and short-term investments expected to support operations into the fourth quarter of 2025.
Forward Guidance
Cabaletta Bio expects to report initial clinical data from Phase 1/2 trials in lupus and/or myositis in the first half of 2024 and anticipates cash, cash equivalents, and short-term investments will fund operations into the fourth quarter of 2025.
Positive Outlook
- Initial clinical data from Phase 1/2 trials in lupus and/or myositis expected in the first half of 2024.
- First lupus clinical site actively recruiting patients.
- Expanded CABA-201 clinical development program within rheumatology and into neurology.
- Additional IND clearances in systemic sclerosis and generalized myasthenia gravis.
- Cash, cash equivalents and short-term investments expected to support operations into the fourth quarter of 2025.
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