Quarterly ResultMay 14, 2026, 07:11 AM
Cabaletta Bio Q1 Net Loss $(43.5)M; Raises $150M
AI Summary
Cabaletta Bio reported a Q1 2026 net loss of $(43.5) million, or $(0.39) per share, compared to a net loss of $(35.9) million, or $(0.71) per share, in Q1 2025. The company also announced significant clinical progress for rese-cel, including positive 6-to-9-month data from the RESET-PV study and initial clinical experience with Cellares-manufactured rese-cel. Additionally, Cabaletta Bio raised $150 million in gross proceeds from a registered direct offering, extending its cash runway into mid-2027.
Key Highlights
- Raised $150 million in gross proceeds from a registered direct offering in May 2026.
- Q1 2026 net loss was $(43.5) million, compared to $(35.9) million in Q1 2025.
- Q1 2026 net loss per share was $(0.39), compared to $(0.71) in Q1 2025.
- R&D expenses increased to $37.4 million in Q1 2026 from $29.0 million in Q1 2025.
- Cash, cash equivalents, and short-term investments were $116.6 million as of March 31, 2026.
- Presented 6-to-9-month PC-free rese-cel data from RESET-PV study at ASGCT 2026.
- Signed 10-year commercial supply agreement with Cellares for automated rese-cel manufacturing.
- Expects PC-free rese-cel initial data from RESET-SLE cohort in 1H26.