TD Cowen analyst Phil Nadeau has maintained their bullish stance on CABA stock, giving a Buy rating today.
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Phil Nadeau has given his Buy rating due to a combination of factors including Cabaletta Bio’s strong financial position and strategic clinical advancements. The company concluded the second quarter with $195 million in cash, providing a financial runway into the second half of 2026, which supports its ongoing and future clinical trials.
Additionally, Cabaletta Bio has made significant progress in its pivotal trials for myositis, having aligned with the FDA on trial designs and planning to initiate enrollment in the second half of 2025. The anticipated data updates and regulatory discussions for other conditions such as SLE, SSc, and MG further bolster the company’s potential for successful clinical outcomes and future growth. These strategic developments and the expected submission of a Biologics License Application (BLA) in 2027 contribute to the positive outlook and Buy rating.