Cabaletta Bio Q2 2025 R&D expenses $37.6M, cash $194.7M; myositis registrational cohort on track for 2H25

Cabaletta Bio, Inc.

2025-Q2 EPS reported -$1.44 vs consensus -$0.66 ▼ miss (-117.3%)

R&D expenses $37.6M (vs $23.4M in Q2 2024); G&A $8.3M (vs $6.9M).
Cash, cash equivalents & short-term investments $194.7M as of June 30, 2025; runway into 2H26.
Closed $100M public offering (net ~$94M) in June 2025 to support rese-cel development and commercial readiness.
Myositis registrational cohort enrollment on track for 2H25; first BLA submission for rese-cel anticipated in 2027.
FDA meetings planned for lupus (3Q25), scleroderma (4Q25), and myasthenia gravis (1H26) registrational designs.

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