Cabaletta Bio, Inc. (CABA) stock gained a further 5.24% in the after-hours at $4.82 on December 16. The stock is still in recovery from the loss it faced on the disappointing data from its lead program study.
During regular trading, the stock saw an increase of 15.37% at its closing price of $4.5800. CABA continued gaining in the after-hours at a volume of 254.23 thousand shares.
Currently, the 28.33M outstanding shares of the biotechnology company trade at a market capitalization of $112.48M.
CABA’s Timeline
On December 14, the company posted disappointing data from the Phase 1 study of its DSG3-CAART lead product candidate. The announcement caused the stock to tumble down to its 52-week low of $3.05 on December 14. Hence, this huge downward jump caused the five-day loss of the stock to reach 61.99%.
Currently, CABA seems to be recovering from the big loss while it is still very short of its value before the fall.
DesCAARTesTM Trial Data
The company posted Top-line data from the two lowest dose cohorts of the DesCAARTesTM trial of DSG3-CAART. DSG3-CAART is the company’s lead product candidate under study in patients with mVP. Mucosal-dominant pemphigus Vulgaris (mVP) is a rare autoimmune blistering disease.
According to the data, until now, CABA has seen no clear signs of biologic activity in the two lowest cell-dose cohorts. Moreover, no dose-limiting toxicities or relevant adverse events have been noted either.
Currently, the company is dosing patients in the fourth dosing cohort with 25 and 125 fold greater doses than previous cohorts. Moreover, CABA is planning the expansion of the trial for evaluation of higher dose cohorts and consolidated dosing regimens.
Recent Participations
In the month of November, the company’s president and CEO, Steven Nichtberger participated in two conferences. Firstly, in the Guggenheim Securities 3rd Annual Neuro/Immunology Conference. This was held on November 16, 2021. Secondly, at the Evercore ISI 4TH Annual HealthCONx Conference. This conference was held on November 30, 2021.
CABA’s Financials
CABA declared its 2021’s third-quarter financial results on November 01, 2021. As per the third quarter of 2021, the company incurred R&D expenses of $8.2 million. Comparatively, the same was $5.7 million in the year-ago quarter.
Moreover, the G&A expenses were $3.4 million in the Q3 of 2021, against $2.8 million in the Q3 of 2020.
Furthermore, CABA ended the third quarter with cash, cash equivalents, and investments of $119.3 million.
