Cabaletta Bio, Inc. (CABA)
Cabaletta Bio, Inc. is a biotechnology firm in the clinical development stage, specializing in the invention and advancement of sophisticated engineered T cell therapies. Its core mission is to treat autoimmune diseases where B cells are implicated in producing harmful autoantibodies. The company's unique chimeric autoantibody receptor (CAAR) T cell platform is engineered to precisely target and eradicate these specific disease-causing B cells. Leading its pipeline is DSG3-CAART, which is currently in Phase I clinical trials. This candidate is being assessed for efficacy in two distinct conditions: mucosal pemphigus vulgaris, an autoimmune blistering skin disorder, and Hemophilia A in patients exhibiting Factor VIII alloantibodies. Cabaletta's broader product candidate portfolio also includes MuSK-CAART, a preclinical asset aimed at a particular subset of myasthenia gravis patients; FVIII-CAART, in the discovery phase for another subgroup of Hemophilia A sufferers; and DSG3/1-CAART, also a discovery-stage program, designed for mucocutaneous pemphigus vulgaris. The company maintains strategic alliances, including a collaboration with the University of Pennsylvania and a research pact with The Regents of the University of California. Founded in 2017 as Tycho Therapeutics, Inc., it adopted the name Cabaletta Bio, Inc. in August 2018 and is based in Philadelphia, Pennsylvania.
Sector: Biological Products, (No Diagnostic Substances)
Industry: Biotechnology
Cabaletta Bio, Inc.
NASDAQ:CABAHealthcare · Biotechnology
-4.73%$1.51
AH$1.45-3.97%vs close
Mkt Cap-
Float167.85M
O/S-
Vol
$ Vol
RVOL
Inst Own93.5%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$167.86M
Total Assets$165.08M
Free Cash Flow-$132.31M
Debt & Equity
Debt 19%
Equity 81%
Total Debt$27.1M
Total Equity$112.05M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in CABA's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$165.08M
Liabilities$53.03M
Accounts Receivable$0
Accounts Payable$6.64M
Inventory$0
PP&E (Net)$21.05M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Margin | - | - | - | - | - | - | - | - | - |
| Research and Development | $142.67M | $97.2M | $55.42M | $39.3M | $32.49M | $21.38M | $11.67M | $4.47M | $0 |
| Selling, General, and Administrative | $29.57M | $27.94M | $19.24M | $14.84M | $13.82M | $12.46M | $7.01M | $1.73M | $250K |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $172.24M | $125.14M | $74.66M | $54.14M | $46.31M | $33.83M | $18.68M | $6.19M | $250K |
| Operating Income (EBIT) | -$172.24M | -$125.14M | -$74.66M | -$54.14M | -$46.31M | -$33.83M | -$18.68M | -$6.19M | -$250K |
| Operating Margin | - | - | - | - | - | - | - | - | - |
| Interest Expense | $2M | $748K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $6.03M | $10.03M | $6.99M | $1.16M | $24K | $494K | $1.74M | $235K | $0 |
| Other Income (Expense) | $4.38M | $9.28M | $6.99M | $1.16M | $24K | $494K | $1.74M | -$6.01M | $0 |
| Income Before Tax (EBT) | -$167.86M | -$115.86M | -$67.67M | -$52.98M | -$46.29M | -$33.34M | -$16.94M | -$12.2M | -$250K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$167.86M | -$115.86M | -$67.67M | -$52.98M | -$46.29M | -$33.34M | -$16.94M | -$12.2M | -$250K |
| Net Income Margin | - | - | - | - | - | - | - | - | - |
| Supplementary Data | |||||||||
| EPS | -1.64 | -2.34 | -1.65 | -1.81 | -1.80 | -1.44 | -4.07 | -0.84 | -0.01 |
| Diluted EPS | -1.64 | -2.34 | -1.65 | -1.81 | -1.80 | -1.44 | -4.07 | -0.84 | -0.01 |
| Weighted Average OS | 102.26M | 49.47M | 40.95M | 29.34M | 25.74M | 23.14M | 4.16M | 14.51M | 24.03M |
| EBITDA | -$164.21M | -$113.41M | -$66.25M | -$51.8M | -$45.56M | -$32.98M | -$18.58M | -$6.01M | $83K |
| EBITDA Margin | - | - | - | - | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $82.98M | $163.96M | $193.24M | $81.61M | $122.22M | $101.43M | $136.2M | $33.02M | $1K |
| Short-Term Investments | $50.62M | $0 | $48.01M | $24.94M | $0 | $7.23M | $0 | $0 | $0 |
| Cash and Short-Term Investments | $133.6M | $163.96M | $241.25M | $106.55M | $122.22M | $108.66M | $136.2M | $33.02M | $1K |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $5.27M | $2.71M | $0 | $2.29M | $1.97M | $1.85M | $2.76M | $0 | $0 |
| Total Current Assets | $138.87M | $166.68M | $244.49M | $108.83M | $124.54M | $113.53M | $140.55M | $33.99M | $1K |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $21.05M | $16.08M | $7.45M | $7.57M | $1.44M | $890K | $815K | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $5.16M | $6.23M | $1.71M | $565K | $357K | $299K | $101K | $180K | $0 |
| Total Long-Term Assets | $26.21M | $22.31M | $9.16M | $8.13M | $1.79M | $1.19M | $916K | $180K | $0 |
| Other Assets | $0 | -$3.94M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $165.08M | $185.05M | $253.65M | $116.97M | $126.34M | $114.72M | $141.47M | $34.17M | $1K |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $6.64M | $4.92M | $4.55M | $2.46M | $2.33M | $1.24M | $920K | $603K | $189K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $9.8M | $8.36M | $40K | $1.33M | $3.07M | $38K | $705K | $219K | $12K |
| Total Current Liabilities | $50.15M | $27.09M | $15.99M | $9.49M | $8.38M | $5.18M | $3.15M | $943K | $250 |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $2.88M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $2.88M | $5.63M | $1.46M | $2.96M | $0 | $0 | $920K | $43.92M | $189 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | -$920K | $0 | -$189K |
| Total Liabilities | $53.03M | $32.71M | $17.45M | $12.45M | $8.38M | $5.18M | $3.15M | $44.86M | $250K |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $43.92M | $0 |
| Common Stock | $1K | $1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | -$516.96M | -$349.1M | -$233.24M | -$165.56M | -$112.59M | -$66.3M | -$32.96M | -$12.45M | -$250K |
| Comprehensive Income & Other | $25K | $0 | $39K | -$47K | $0 | $6K | $0 | $0 | $0 |
| Other Stockholders' Equity | $629.01M | $501.44M | $469.44M | $270.08M | $230.54M | $175.84M | $171.28M | $1.76M | $1K |
| Total Equity | $112.05M | $152.34M | $236.2M | $104.52M | $117.96M | $109.54M | $138.32M | -$10.69M | -$249K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $165.08M | $185.05M | $253.65M | $116.97M | $126.34M | $114.72M | $141.47M | $34.17M | $1K |
| Supplementary Data | |||||||||
| Total Debt | $27.1M | $15.6M | $5.02M | $5.14M | $0 | $0 | $0 | $43.92M | $0 |
| Net Debt | -$55.88M | -$148.36M | -$188.22M | -$76.47M | -$122.22M | -$101.43M | -$136.2M | $10.9M | -$1K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | -$167.86M | -$115.86M | -$67.67M | -$52.98M | -$46.29M | -$33.34M | -$16.94M | -$12.2M | -$333K |
| Depreciation & Amortization | $1.65M | $1.71M | $1.43M | $1.18M | $733K | $354K | $104K | $6.19M | $333K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | -$2.26M | $0 | $0 |
| Stock-Based Compensation | $20.94M | $19.46M | $11.34M | $6.9M | $5.8M | $4.39M | $2.3M | $606K | $0 |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $1.55M | $1.01M | $1.68M | -$28K | $975K | $555K | $246K | $234K | $0 |
| Other Working Capital | -$1.93M | $600K | -$1.57M | -$4.27M | $4.61M | $1.15M | -$1.75M | -$698K | $81K |
| Total Working Capital Change | -$379K | $1.61M | $101K | -$4.3M | $5.58M | $1.71M | -$1.51M | -$464K | $81K |
| Other Non-Cash Items | $14.57M | $4.86M | $1.26M | $2.82M | $62K | $119K | $2.26M | $1.21M | -$81K |
| Net Cash from Operating | -$131.08M | -$88.22M | -$53.55M | -$46.38M | -$34.11M | -$26.77M | -$16.05M | -$4.66M | $0 |
| Investing Activities | |||||||||
| Capital Expenditures | -$1.23M | -$2.21M | -$687K | -$2.45M | -$1.17M | -$635K | -$693K | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $25K | $0 | $7K | $0 | $0 | $0 |
| Purchases of Investments | -$99.04M | $0 | -$84.26M | -$49.76M | $0 | -$11.1M | $0 | $0 | $0 |
| Sales of Investments | $50M | $49.5M | $62.5M | $25M | $7.17M | $3.75M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | -$25K | $0 | -$7K | $0 | $0 | $0 |
| Net Cash from Investing | -$50.27M | $47.29M | -$22.45M | -$27.22M | $6M | -$7.98M | -$693K | $0 | $0 |
| Financing Activities | |||||||||
| Debt Repaid | $6.26M | $897K | - | - | - | - | - | -$12.54M | - |
| Common Stock Issuance | $106.61M | $10.88M | $185.2M | $32.85M | $48.25M | $0 | $71.21M | $25.14M | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | -$192K | $0 | -$169K | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | -$10.09M | $0 | $0 |
| Other Financing Activities | $0 | $1.7M | $2.43M | $127K | $650K | $168K | $8.8M | -$169K | $1K |
| Net Cash from Financing | $100.35M | $11.68M | $187.63M | $32.98M | $48.9M | -$24K | $119.92M | $37.68M | $1K |
| Forex Effect | $19K | -$20K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$80.98M | -$29.28M | $111.63M | -$40.62M | $20.79M | -$34.77M | $103.19M | $33.02M | $1K |
| Supplementary Data | |||||||||
| Operating Cash Flow | -$131.08M | -$88.22M | -$53.55M | -$46.38M | -$34.11M | -$26.77M | -$16.05M | -$4.66M | $0 |
| Capital Expenditure | -$1.23M | -$2.21M | -$687K | -$2.45M | -$1.17M | -$635K | -$693K | $0 | $0 |
| Free Cash Flow | -$132.31M | -$90.43M | -$54.24M | -$48.83M | -$35.27M | -$27.41M | -$16.74M | -$4.66M | $0 |
| Cash at Beginning | $163.96M | $193.24M | $81.61M | $122.22M | $101.43M | $136.2M | $33.02M | $1K | -$1K |
| Cash at End | $82.98M | $163.96M | $193.24M | $81.61M | $122.22M | $101.43M | $136.2M | $33.02M | $1 |