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.
