Cabaletta Bio, Inc.
Business
Cabaletta Bio is a late clinical-stage biotechnology company developing engineered T cell therapies for autoimmune diseases using its proprietary CABA platform and CARTA approach. The company's lead product candidate, resecabtagene autoleucel (rese-cel), is a CD19-targeting CAR T therapy designed to achieve transient depletion of B cells and reset the immune system with a single infusion. Cabaletta is advancing five Phase 1/2 clinical trials of rese-cel across systemic lupus erythematosus, myositis, systemic sclerosis, generalized myasthenia gravis, and pemphigus vulgaris, with plans for a registrational trial in myositis initiated in December 2025.
Summary from 10-K filed 2026-03-23
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development | 143 | 97 | 55 | 39 | 32 | |
| General and administrative | 30 | 28 | 19 | 15 | 14 | |
| Total operating expenses | 172 | 125 | 75 | 54 | 46 | |
| Loss from operations | −172 | −125 | −75 | −54 | −46 | |
| Interest income | 6 | 10 | 7 | 1 | 24,000 | |
| Interest expense | −2 | −748,000 | 0 | — | — | |
| Other income, net | 358,000 | 0 | — | — | — | |
| Net loss | −168 | −116 | −68 | −53 | −46 | |
| Net unrealized gain (loss) on available-for-sale investments, net of tax | 25,000 | −39,000 | 86,000 | −47,000 | 0 | |
| Net comprehensive loss | −168 | −116 | −68 | −53 | −46 | |
| Net loss per share of voting and non-voting common stock, basic | −2.1 | −2.34 | −1.65 | −1.81 | −1.8 | |
| Net loss per share of voting and non-voting common stock, diluted | −2.1 | −2.34 | −1.65 | −1.81 | −1.8 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 83 | 164 | 193 | — | 82 | |
| Short-term investments | 51 | 0 | 48 | — | 25 | |
| Prepaid expenses and other current assets | 5 | 3 | 3 | — | 2 | |
| Total current assets | 139 | 167 | 244 | — | 109 | |
| Property and equipment, net | 2 | 3 | 3 | — | 3 | |
| Finance lease right-of-use assets | 16 | 7 | 0 | — | — | |
| Operating lease right-of-use assets | 3 | 6 | 5 | 953 | 5 | |
| Other assets | 5 | 2 | 2 | — | 565,000 | |
| Total Assets | 165 | 185 | 254 | — | 117 | |
| Accounts payable | 7 | 5 | 5 | — | 2 | |
| Accrued and other current liabilities | 19 | 12 | 8 | — | 5 | |
| Finance lease liabilities, current portion | 21 | 6 | 0 | — | — | |
| Operating lease liabilities, current portion | 3 | 4 | 4 | — | 2 | |
| Total current liabilities | 50 | 27 | 16 | — | 9 | |
| Finance lease liabilities, net of current portion | 3 | 3 | 0 | — | — | |
| Operating lease liabilities, net of current portion | 0 | 2 | 1 | — | 3 | |
| Total Liabilities | 53 | 33 | 17 | — | 12 | |
| Commitments and contingencies (see Notes 6 and 7) | — | — | — | — | — | |
| Preferred stock, $0.00001 par value: 10,000,000 shares authorized as of December 31, 2025 and December 31, 2024; no shares issued or outstanding at December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | — | 0 | |
| Voting and non-voting common stock, $0.00001 par value: 300,000,000 (293,590,481 voting and 6,409,519 non-voting) shares authorized as of December 31, 2025 and 150,000,000 (143,590,481 voting and 6,409,519 non-voting) shares authorized as of December 31, 2024; 100,479,323 voting shares issuedand outstanding as of December 31, 2025 and 50,743,101voting shares issued and outstanding as of December 31, 2024 | 1,000 | 1,000 | 0 | — | 0 | |
| Additional paid-in capital | 629 | 501 | 469 | — | 270 | |
| Accumulated other comprehensive income | 25,000 | 0 | 39,000 | — | −47,000 | |
| Accumulated deficit | −517 | −349 | −233 | — | −166 | |
| Total stockholders equity | 112 | 152 | 236 | — | 105 | |
| Total liabilities and stockholders equity | 165 | 185 | 254 | — | 117 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −168 | −116 | −68 | −53 | −46 | |
| Stock-based compensation | 21 | 19 | 11 | 7 | 6 | |
| Depreciation | 2 | 2 | 1 | 1 | 733,000 | |
| Non-cash finance lease expense | 12 | 3 | — | — | — | |
| Non-cash operating lease expense | 4 | 3 | 2 | 3 | 0 | |
| Accretion of operating lease liabilities | 532,000 | 405,000 | 408,000 | 685,000 | 0 | |
| Amortization of discount on investments | −2 | −2 | −1 | −223,000 | 62,000 | |
| Loss on foreign currency exchange rates | 225,000 | 38,000 | 0 | — | — | |
| Prepaid expenses and other current assets | −3 | 528,000 | −954,000 | 32,000 | 3 | |
| Other assets | −3 | −584,000 | −1 | −208,000 | −58,000 | |
| Accounts payable | 2 | 1 | 2 | −28,000 | 975,000 | |
| Accrued and other current liabilities | 7 | 4 | 3 | −1 | 2 | |
| Lease liabilities | −4 | −3 | −2 | −3 | 0 | |
| Accrued interest payable under finance lease | 291,000 | 0 | — | — | — | |
| Net cash used in operating activities | −131 | −88 | −54 | −46 | −34 | |
| Purchases of property and equipment | −1 | −2 | −687,000 | −2 | −1 | |
| Purchases of investments | −99 | 0 | −84 | −50 | 0 | |
| Proceeds from maturities of investments | 50 | 50 | 63 | 25 | 7 | |
| Net cash (used in) provided by investing activities | −50 | 47 | −22 | −27 | 6 | |
| Proceeds from the issuance of common stock, warrants and pre-funded warrants, net of issuance costs | 94 | 0 | 185 | 33 | 48 | |
| Issuance of common stock from ATM offering, net of sales agent commission and fees | 13 | 11 | — | — | — | |
| Proceeds from the issuance of common stock under employee stock purchase plan | 291,000 | 269,000 | 108,000 | 76,000 | 71,000 | |
| Proceeds from issuance of common stock in connection with the exercise of stock options | 14,000 | 1 | 2 | 51,000 | 579,000 | |
| Principal payments on finance leases | −6 | −897,000 | 0 | — | — | |
| Net cash provided by financing activities | 100 | 12 | 188 | 33 | 49 | |
| Effect of exchange rate changes on cash and cash equivalents | 19,000 | −20,000 | 0 | — | — | |
| Net decrease in cash and cash equivalents | −81 | −29 | 112 | — | — | |
| Cash paid for interest | 2 | 748,000 | 0 | — | — | |
| Property and equipment purchases included in accounts payable and accrued expenses | 0 | 404,000 | 702,000 | 0 | 135,000 | |
| Right-of use assets obtained in exchange for lease obligations | 21 | 11 | 2 | 14 | 0 | |
| Right-of-use assets obtained in exchange for operating lease obligations | 787,000 | 4 | 0 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Cabaletta Bio, Inc.'s CIK number?
Cabaletta Bio, Inc.'s SEC CIK number is 0001759138 (1759138). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Cabaletta Bio, Inc.'s SEC filings?
All of Cabaletta Bio, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Cabaletta Bio, Inc. last report earnings?
Cabaletta Bio, Inc. (CABA) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001759138-26-000025). This is Cabaletta Bio, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Cabaletta Bio, Inc.'s most recent earnings 8-K?
Cabaletta Bio, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001759138-26-000025. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Cabaletta Bio, Inc.'s latest earnings 8-K →
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