Cabaletta Bio Discloses Unaudited Cash and Cash Equivalents of $164 Million as of December 31, 2024

Cabaletta Bio, Inc. (NASDAQ: CABA) recently revealed its unaudited cash and cash equivalents as of December 31, 2024, amounting to $164 million. The company anticipates that this financial position at the end of 2024 will allow it to support its revised operational plan, incorporating the expedited clinical assumptions, until the first half of 2026.

The information provided in the Form 8-K filing under Item 2.02 is preliminary and unaudited, not encompassing all data essential for comprehending the company’s financial state as of December 31, 2024. It’s noted that the audit of the Company’s consolidated financial statements for the year ending December 31, 2024, is ongoing and might result in alterations to the previously mentioned details.

Regarding regulatory disclosure (Item 7.01), Cabaletta Bio announced on January 13, 2025, the release of an updated corporate presentation and a corresponding press release highlighting the company’s recent pipeline developments and strategic priorities for the coming year. These disclosures are available on the company’s website.

Under ‘Other Events’ (Item 8.01), Cabaletta Bio communicated various advancements in its pipeline and operations, including progresses such as patient enrolments and initiation of trials across different disease-specific cohorts within the RESET clinical development program. The Company has expanded its manufacturing capabilities and signed an agreement with Lonza to facilitate the clinical supply of rese-cel.

Furthermore, the Company outlined its strategic objectives for 2025, emphasizing aligning with the FDA on a path to registration for rese-cel, continuing patient enrolments across multiple disease-specific cohorts, presenting new data, and advancing innovations to enhance patient access and experiences with rese-cel.

With a cash reserve of $164 million at the end of the fourth quarter in 2024, Cabaletta expects this financial position to finance its updated operational plan, including accelerated clinical activities, through the first half of 2026.

Cabaletta Bio is actively engaged in a Phase 1/2 trial, the RESET-MS trial, evaluating rese-cel in patients with relapsing and progressive forms of multiple sclerosis. Rese-cel, known as CABA-201 in the past, represents a potential curative targeted cell therapy addressing autoimmune diseases by resetting the immune system through the depletion of CD19-positive cells following a one-time infusion.

The company emphasizes that the forward-looking statements contained in the disclosure are based on current management expectations and are subject to risks and uncertainties that could potentially impact the future performance of the company. Cabaletta Bio intends to update the information in this report as required by law.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cabaletta Bio’s 8K filing here.

Cabaletta Bio Company Profile

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.