Biotech Boom: Cabaletta Bio’s CAR-T Trial Sparks 40% Stock Surge
Cabaletta Bio shares surged up to 46% on Oct. 31, closing at $3.61 after strong CAR-T therapy data, with trading volume hitting 35.7 million shares. Phase 1/2 results showed major improvements in myositis and systemic sclerosis, and durable lupus nephritis remissions. The company remains pre-revenue, holding $194.7 million cash as of June 30. Wall Street analysts mostly rate CABA a “Buy,” with targets averaging $13–15.