Quarterly ResultMay 14, 2026, 07:07 AM
Cabaletta Bio Raises $150M; Rese-cel Clinical Data & BLA Plans Advance
AI Summary
Cabaletta Bio reported its first quarter 2026 financial results, including a net loss of $43.5 million. The company successfully completed a $150 million registered direct offering in May 2026, extending its cash runway into mid-2027. Operationally, Cabaletta presented positive preconditioning-free rese-cel data in pemphigus vulgaris, advanced its pivotal RESET-Myositis trial towards a planned 2027 BLA submission, and secured a 10-year commercial supply agreement with Cellares for automated manufacturing. Initial PC-free RESET-SLE data is expected in 1H26, with longer-term data and higher dose results anticipated in 2H26.
Key Highlights
- Raised $150 million 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.
- Research and development expenses increased to $37.4 million in Q1 2026 from $29.0 million in Q1 2025.
- Cash, cash equivalents, and short-term investments totaled $116.6 million as of March 31, 2026.
- Cash runway extended into mid-2027 with the recent $150M financing.
- Preconditioning-free rese-cel data showed compelling drug-free responses in half of pemphigus vulgaris patients through 6 months.
- Pivotal RESET-Myositis trial progressing for planned BLA submission in 2027.
- Signed 10-year commercial supply agreement with Cellares for automated rese-cel manufacturing.