Cabaletta Bio, Inc. CABA
We are a late clinical-stage biotechnology company focused on the discovery and development of innovative engineered T cell therapies that have the potential to provide deep and durable, perhaps curative, responses with one-time administration for patients with autoimmune diseases. Our proprietary CABA®, or Cabaletta Approach to B cell Ablation platform, focuses on the CARTA approach. CARTA refers to Chimeric Antigen Receptor T cells for Autoimmunity and is designed to potentially reset the immune system. Based on clinical data reported to date, we believe our CABA® platform has the potential to safely enable complete and durable responses for a broad range of autoimmune diseases and that it has potential applicability across dozens of autoimmune diseases that we have identified, evaluated and prioritized.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| R&D | $142.7M | $97.2M | $55.4M | $39.3M | $32.5M | $21.4M | $11.7M | $4.5M | — |
| SG&A | $29.6M | $27.9M | $19.2M | $14.8M | $13.8M | $12.5M | $7.0M | $1.7M | — |
| Total operating expenses | $172.2M | $125.1M | $74.7M | $54.1M | $46.3M | $33.8M | $18.7M | $6.2M | — |
| Operating income | -$172.2M | -$125.1M | -$74.7M | -$54.1M | -$46.3M | -$33.8M | -$18.7M | -$6.2M | — |
| Interest expense | $2.0M | $748.0K | $0 | — | — | — | — | — | — |
| Pre-tax income | -$167.9M | -$115.9M | — | — | — | — | — | — | — |
| Income tax | $0 | $0 | — | — | — | — | — | — | — |
| Net income | -$167.9M | -$115.9M | -$67.7M | -$53.0M | -$46.3M | -$33.3M | -$16.9M | -$12.2M | — |
| EPS, basic | -2.10 | -2.34 | -1.65 | -1.81 | -1.80 | — | — | — | — |
| EPS, diluted | -2.10 | -2.34 | -1.65 | -1.81 | -1.80 | -1.44 | -4.07 | -6.87 | — |
| Shares, diluted (wtd. avg.) | — | — | 1.2M | 5.9M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $83.0M | $164.0M | $193.2M | $81.6M | $122.2M | $101.4M | $136.2M | $33.0M | — |
| Short-term investments | $50.6M | $0 | $48.0M | $24.9M | $0 | $7.2M | — | — | — |
| Total current assets | $138.9M | $166.7M | $244.5M | $108.8M | $124.5M | $113.5M | $140.6M | $34.0M | — |
| Property, plant and equipment | $1.9M | $2.7M | $2.5M | $2.6M | $1.4M | $890.0K | $815.0K | — | — |
| Total assets | $165.1M | $185.0M | $253.7M | $117.0M | $126.3M | $114.7M | $141.5M | $34.2M | — |
| Accounts payable | $6.6M | $4.9M | $4.5M | $2.5M | $2.3M | $1.2M | $920.0K | $603.0K | — |
| Total current liabilities | $50.2M | $27.1M | $16.0M | $9.5M | $8.4M | $5.2M | $3.1M | $943.0K | — |
| Total liabilities | $53.0M | $32.7M | $17.5M | $12.4M | $8.4M | — | — | — | — |
| Retained earnings | -$517.0M | -$349.1M | -$233.2M | -$165.6M | -$112.6M | -$66.3M | -$33.0M | -$12.5M | — |
| Total equity | $112.1M | $152.3M | $236.2M | $104.5M | $118.0M | $109.5M | $138.3M | -$10.7M | -$249.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$131.1M | -$88.2M | -$53.5M | -$46.4M | -$34.1M | -$26.8M | -$16.0M | -$4.7M | — |
| Depreciation and amortisation | $1.6M | $1.7M | $1.4M | $1.2M | $733.0K | $354.0K | $104.0K | $0 | — |
| Stock-based compensation | $20.9M | $19.5M | $11.3M | $6.9M | $5.8M | $4.4M | $2.3M | $606.0K | — |
| Capital expenditure | $1.2M | $2.2M | $687.0K | $2.5M | $1.2M | $635.0K | $693.0K | — | — |
| Investing cash flow | -$50.3M | $47.3M | -$22.5M | -$27.2M | $6.0M | -$8.0M | -$693.0K | — | — |
| Financing cash flow | $100.3M | $11.7M | $187.6M | $33.0M | $48.9M | -$24.0K | $119.9M | $37.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-183557.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — |
| Net income | — | -$12.2M | -$16.9M | -$33.3M | -$46.3M | -$53.0M | -$67.7M | -$115.9M | -$167.9M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced Item 2.02
- Other event Item 8.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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