Cabaletta Bio (CABA) — Stock, Pipeline & Market Cap

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CABA · Stock Price

USD 4.00+2.81 (+236.13%)

Market Cap: $631.8M

Historical price data

Market Cap: $631.8MPipeline: 7 drugs (1 Phase 3)Founded: 2017Employees: 51-200HQ: Philadelphia, United States

Sector Ranking#36 in Cell & Gene Therapy #24 in Immunotherapy / Immuno-Oncology

Overview

Cabaletta Bio's mission is to harness the immune system through innovative cell therapies to deliver accessible cures for autoimmune diseases. The company's core strategy leverages its proprietary CABA® platform, focusing on its lead CARTA candidate, rese-cel, which is designed to transiently eliminate B cells to 'reset' the immune system. It has rapidly advanced rese-cel into five concurrent Phase 1/2 RESET™ trials across lupus, myositis, systemic sclerosis, myasthenia gravis, and pemphigus vulgaris, positioning itself as a leader in applying CAR T technology to autoimmunity.

Autoimmune DiseasesRheumatologyDermatologyNeurology

Technology Platform

The proprietary Cabaletta Approach to B cell Ablation (CABA®) platform, which encompasses Chimeric Antigen Receptor T cells for Autoimmunity (CARTA) for broad B cell ablation and Chimeric AutoAntibody Receptor T cells (CAAR T) for targeted B cell depletion.

Pipeline

7

7 drugs in pipeline1 in Phase 3

Drug	Indication	Stage
CABA-201 following preconditioning with fludarabine and cycl...	Idiopathic Inflammatory Myopathy	Phase 2/3
CABA-201	Generalized Myasthenia Gravis (gMG)	Phase 1/2
CABA-201	Systemic Sclerosis	Phase 1/2
CABA-201	Relapsing Multiple Sclerosis (RMS)	Phase 1/2
CABA-201 + CABA-201	Systemic Lupus Erythematosus	Phase 1/2

Funding History

3

Total raised:$200M

Series B$75MAdage Capital ManagementJan 15, 2020

IPO$75MUndisclosedOct 24, 2019

Series A$50MAdage Capital ManagementOct 15, 2018

Opportunities

The opportunity lies in establishing a new, potentially curative treatment paradigm across multiple severe autoimmune diseases with high unmet need, representing a collective multi-billion dollar market.

Success in early trials could lead to expedited regulatory pathways and premium pricing.

Risk Factors

Key risks include clinical failure of the lead asset, unexpected safety signals from prolonged B-cell depletion, challenges in manufacturing complex cell therapies, future difficulties in securing reimbursement for a high-cost one-time therapy, and intense competition from both large pharma and emerging biotechs.

Competitive Landscape

Cabaletta's most direct competitor is Kyverna Therapeutics, also advancing a CD19-CAR T in autoimmunity. It also faces potential future competition from large CAR T players (Novartis, BMS, Gilead) and must demonstrate superiority or differentiation from existing non-curative biologic therapies.