NASDAQ$CABA
Cabaletta Bio Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Cabaletta Bio reported financial results for Q1 2023 and provided a business update.
Cabaletta Bio reported first quarter 2023 financial results, including research and development expenses of $12.4 million and general and administrative expenses of $4.5 million. As of March 31, 2023, the company had cash and cash equivalents of $93.8 million, expected to fund operations into the first quarter of 2025. The IND application for CABA-201 has been cleared and Fast Track Designation was granted by the FDA.
- IND application for CABA-201 cleared within 30 days for clinical trial in patients with LN and SLE.
- FDA granted Fast Track Designation for CABA-201 to deplete CD19-positive B cells and improve disease activity in patients with LN and SLE.
- Phase 1/2 trial planned to evaluate CABA-201 in six patients with active LN and six patients with SLE without renal involvement.
- Cabaletta plans to present on CD19-CAR T in SLE and poster presentations for CABA-201 and DSG3-CAART at the upcoming ASGCT 26th Annual Meeting.
Headline financials
Revenue & EPS history
Cabaletta Bio · Revenue · Quarterly
$0
Forward guidance
Cabaletta anticipates three-month clinical efficacy endpoint and tolerability data for CABA-201 and six-month data for the combination cohort of the MusCAARTes™ trial in the first half of 2024.
Tailwinds
- Cabaletta’s ability to grow its autoimmune-focused pipeline
- Leverage the potential benefits from using the initial dose used in the September 2022 Nature Medicine publication
- Cabaletta’s ability to retain and recognize the intended incentives conferred from the Fast Track Designation for CABA-201
- The progress and results of its DesCAARTes™ Phase 1 trial and MusCAARTes™ Phase 1 trial
- Statements regarding regulatory filings for its development programs, including the planned timing of such regulatory filings and potential review by such regulatory authorities
Headwinds
- Risks related to regulatory filings and potential clearance
- The risk that signs of biologic activity or persistence may not inform long-term results
- Risks related to clinical trial site activation or enrollment rates that are lower than expected
- Risks related to unexpected safety or efficacy data observed during clinical studies
- The risk that the results observed with the similarly-designed construct employed in the recent Nature Medicine publication, including due to the dosing regimen, are not indicative of the results we seek to achieve with CABA-201
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+2.7%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+5.3%
Avg return
30 days after
67%
16 / 24 earnings
Positive
+22.7%
Q3 2022
Best reaction
-24.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -7.8% | -9.0% | -16.2% | |
| Q3 2025 | -5.0% | -9.4% | -5.1% | |
| Q1 2025 | -0.6% | +6.9% | -2.9% | |
| Q4 2024 | +12.8% | -28.4% | -14.8% | |
| Q3 2024 | -24.4% | -36.7% | -29.7% | |
| Q1 2024 | +12.4% | +14.7% | -5.1% | |
| Q4 2023 | -4.2% | -6.4% | -26.4% | |
| Q3 2023 | +4.0% | +1.6% | -5.6% | |
| Q2 2023 | +10.0% | +10.4% | +12.0% | |
| Q1 2023 | +1.6% | +7.0% | -1.2% | |
| Q4 2022 | +9.3% | +4.3% | +5.4% | |
| Q3 2022 | +22.7% | +84.0% | +207.2% | |
| Q2 2022 | +19.5% | +17.2% | -26.3% | |
| Q1 2022 | +21.1% | +52.8% | -3.3% | |
| Q4 2021 | +14.6% | +32.7% | +6.4% | |
| Q3 2021 | +2.4% | -5.3% | -19.1% | |
| Q2 2021 | +2.0% | +1.9% | +58.0% | |
| Q1 2021 | -6.6% | -14.0% | -7.2% | |
| Q4 2020 | +1.7% | -4.0% | -8.7% | |
| Q3 2020 | +6.7% | +7.1% | +19.3% | |
| Q2 2020 | +6.4% | +4.6% | -15.8% | |
| Q1 2020 | -9.3% | -8.0% | -8.0% | |
| Q4 2019 | +0.3% | -7.6% | +10.7% | |
| Q3 2019 | -23.7% | -38.7% | +3.7% | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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