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 advancements in their clinical trials. The company ended the third quarter with $160 million in cash, providing a financial runway into the second half of 2026. This financial stability supports their ongoing and future pivotal trials, which are crucial for the company’s growth prospects.
Furthermore, Cabaletta Bio is making significant progress in their clinical trials, particularly with the initiation of pivotal cohorts for myositis in the fourth quarter of 2025 and anticipated BLA submission in 2027. The company’s alignment with the FDA on trial designs for additional indications like SLE, SSc, and MG further strengthens their potential for successful outcomes. The encouraging clinical data updates across various indications also contribute to the positive outlook, reinforcing the Buy rating.