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Tag: Cabaletta Bio

  • Cabaletta Bio, Inc. (CABA) Continues to Gain in the After Hours

    Cabaletta Bio, Inc. (CABA) stock gained a further 5.24% in the after-hours at $4.82 on December 16. The stock is still in recovery from the loss it faced on the disappointing data from its lead program study.

    During regular trading, the stock saw an increase of 15.37% at its closing price of $4.5800. CABA continued gaining in the after-hours at a volume of 254.23 thousand shares.

    Currently, the 28.33M outstanding shares of the biotechnology company trade at a market capitalization of $112.48M.

    CABA’s Timeline

    On December 14, the company posted disappointing data from the Phase 1 study of its DSG3-CAART lead product candidate. The announcement caused the stock to tumble down to its 52-week low of $3.05 on December 14. Hence, this huge downward jump caused the five-day loss of the stock to reach 61.99%.

    Currently, CABA seems to be recovering from the big loss while it is still very short of its value before the fall.

    DesCAARTesTM Trial Data

    The company posted Top-line data from the two lowest dose cohorts of the DesCAARTesTM trial of DSG3-CAART. DSG3-CAART is the company’s lead product candidate under study in patients with mVP. Mucosal-dominant pemphigus Vulgaris (mVP) is a rare autoimmune blistering disease.

    According to the data, until now, CABA has seen no clear signs of biologic activity in the two lowest cell-dose cohorts. Moreover, no dose-limiting toxicities or relevant adverse events have been noted either.

    Currently, the company is dosing patients in the fourth dosing cohort with 25 and 125 fold greater doses than previous cohorts. Moreover, CABA is planning the expansion of the trial for evaluation of higher dose cohorts and consolidated dosing regimens.

    Recent Participations

    In the month of November, the company’s president and CEO, Steven Nichtberger participated in two conferences. Firstly, in the Guggenheim Securities 3rd Annual Neuro/Immunology Conference. This was held on November 16, 2021. Secondly, at the Evercore ISI 4TH Annual HealthCONx Conference. This conference was held on November 30, 2021.

    CABA’s Financials

    CABA declared its 2021’s third-quarter financial results on November 01, 2021. As per the third quarter of 2021, the company incurred R&D expenses of $8.2 million. Comparatively, the same was $5.7 million in the year-ago quarter.

    Moreover, the G&A expenses were $3.4 million in the Q3 of 2021, against $2.8 million in the Q3 of 2020.

    Furthermore, CABA ended the third quarter with cash, cash equivalents, and investments of $119.3 million.

  • Why Cabaletta Bio Inc. (CABA) stock performed well on Friday?

    Cabaletta Bio Inc. (CABA) shares jumped 9.49% in after-hours on Friday, July 2, 2021, and closed the week at $9.23 per share. Earlier, CABA’s stock gained 11.51% to close Friday’s session at $9.40. CABA shares have fallen 25.46% over the last 12 months, and they have moved up 12.70% in the past week. Over the past three months, the stock has lost 27.33%, while over the past six months, it has declined 32.45%.

    Let’s see what are the latest news and developments about CABA?

    New appointment

    On June 28, 2021, Cabaletta Bio, Inc appointed veteran biopharmaceutical leader, Scott Brun, M.D., to its Board of Directors.

    Dr. Brun has over 20 years of wide-ranging drug development and business development experience in many reputable pharmaceutical companies and worked in different executive positions.

    Participation in the recent investor conference

    Cabaletta Bio, Inc recently participated in a fireside chat at the Jefferies Healthcare Conference which held on Thursday, June 3, 2021. The company was presented by President and Chief Executive Officer, Steven Nichtberger, M.D.

    Earlier the company also took part in the 20th Annual Needham Healthcare Conference which held on Wednesday, April 14, 2021.

    Favourable Safety Profile of DSG3-CAART

    On May 03, 2021, Cabaletta Bio, Inc reported acute safety data from the first dose cohort of the ongoing DesCAARTes™ Phase 1 clinical trial of DSG3-CAART for the treatment of patients with mucosal-dominant pemphigus vulgaris (mPV).

    There were no clinically relevant adverse events in the first cohort of three patients dosed with DSG3-CAART.

    Also, two patients who have completed more than the full 28-day DLT monitoring period post-infusion did not get clinically relevant adverse events or toxicities.

    Recent financial results announcement

    On May 03, 2021, Cabaletta Bio, Inc released its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    Cabaletta Bio suffered a net loss of $9.7 million or a net loss per, basic and diluted share of $0.41 in Q1 2021 compared to $7.5 million or a net loss per, basic and diluted share of $0.33 in Q1 2020.

    • Research and development expenses were $6.6 million for Q1 2021 compared to $4.6 million for the same period in 2020.
    • General and administrative expenses were $3.2 million in Q1 2021, compared to $3.3 million for the same period in 2020.
    • The company had cash, cash equivalents and investments totaled $102.0 million on March 31, 2021, compared to $108.7 million as of December 31, 2020.

    Conclusion

    Well, as of this writing, we have no recent development in July which we could like with its recent good performance. We hope that CABA stock will commence the new week by continuing its positive momentum.