Business
Cabaletta Bio Reports Second Quarter 2023 Financial Results and Provides Business Update
– Received second IND application clearance for CABA-201 in myositis as well as Fast Track Designation in SLE and LN – – Strengthened balance sheet by closing
About this update from Cabaletta Bio, Inc.
[{"type":"text","content":"– Received second IND application clearance for CABA-201 in myositis as well as Fast Track Designation in SLE and LN – – Strengthened balance sheet by closing $100M public offering extending cash runway into the fourth quarter of 2025 – PHILADELPHIA, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Cabaletta Bio, Inc. (Nasdaq: CABA), a clinical-stage biotechnology company focused on developing and launching the first curative targeted cell therapies for patients with autoimmune diseases, today reported financial results for the second quarter ended June 30, 2023, and provided a business update. “As we continue to pursue our vision of launching the first CD19 CAR-T product for patients with autoimmune diseases, we accelerated the progress of CABA-201 in the first half of 2023 by securing FDA clearance to initiate two separate and efficiently designed Phase 1/2 clinical trials in patients with systemic lupus erythematosus and myositis. With separate parallel cohorts in each trial, we are well positioned to rapidly evaluate and develop CABA-201 for patients with autoimmune diseases,” said Steven Nichtberger, M.D., Chief Executive Officer of Cabaletta. “Backed by a strong balance sheet that we believe positions us to deliver on our milestones, we continue to expect 3-month clinical data for initial patients treated with CABA-201 by the first half of 2024. With expanding clinical evidence in the field, we look forward to building on our momentum and advancing our mission to develop and launch the first curative targeted cellular therapies for patients with autoimmune diseases.” Recent Operational Highlights and Upcoming Anticipated Milestones Chimeric Antigen Receptor T cells for Autoimmunity (CARTA) Strategy CABA-201: Autologous, engineered T cells with a chimeric antigen receptor containing a fully human CD19 binder and a 4-1BB co-stimulatory domain as a potential treatment for a broad range of autoimmune diseases where B cells contribute to the initiation and/or maintenance of disease. Preparations on track to initiate clinical trials of CABA-201: The Company plans to initiate a Phase 1/2 clinical trial of CABA-201 for the treatment of systemic lupus erythematosus (SLE), including two separate parallel cohorts of six SLE patients with active lupus nephritis (LN) and six patients with active SLE without renal involvement. In addition, the Company...