Cabaletta Bio Reports Wider Q4 Results As R&D Expenses Rise

(RTTNews) - Cabaletta Bio, Inc. (CABA), a clinical-stage biotechnology company focused on targeted cell therapies for autoimmune diseases, Monday reported its fourth-quarter and full-year 2024 financial results.

The company posted a net loss of $32.6 million for the quarter, widening from $20.9 million a year ago. Loss per share was $0.65 for the quarter and $2.34 for the year, compared to $0.46 and $1.65, respectively, in the prior year.

Operating expenses rose as research and development costs reached $97.2 million for the year, up from $55.4 million, and general and administrative expenses increased to $27.9 million from $19.2 million. The company ended the year with $164 million in cash, down from $241 million.

CABA closed Monday's trading at $1.38 down $0.16 or 10.65 percent on the Nasdaq.