Cabaletta Bio Inc. (CABA) stock rises during the pre-market trading session. Let’s find out why?

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Cabaletta Bio Inc. (NASDAQ: CABA) stock declined by 2.43% during the last trading close. Still, in the pre-market trading session, the CABA stock rises by 10.70%, followed by no recent news or press release available. Whereas fluctuation in CABA stock price has been noted as on March 16, the company reported its financial results for the fourth quarter and full-year ended on December 31, 2020. CABA is a biotechnology company that deals with the invention and engineering of T cell therapies for patients suffering from B cell-mediated autoimmune diseases.

Overview of CABA financial results

  • CABA’s Research and Development Expenses for the fourth quarter of 2020 were $5.8 million compared to $3.0 million for the same period in 2019. While the R&D expenses for the full year 2020 were $21.4 million compared to $11.7 million for the full year 2019.
  • The General and administrative expenses of CABA for the fourth quarter of 2020 were $3.6 million, whereas the figure was $2.8 million for Q4 2019. G&A expenses for the full year 2020 were$12.5 million compared to $7.0 million for 2019.
  • The cash and cash equivalents calculated is $108.7 million compared to $136.2 million as of December 31, 2019. CABA expects that the cash and cash equivalents, in addition to investments made as of December 31, 2020, will make it possible for Cabaletta to fund its operating plan at least till the third quarter of 2022.

The forthcoming events for Cabaletta

  • On April 1, 2021, Cabaletta will participate in a fireside chat at the Guggenheim Healthcare Talks Genomic Medicines and Rare Disease Day, which is happening virtually.
  • On April 12-15, 2021, CABA will participate in the virtual Needham & Co. Virtual Healthcare Conference.

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