Citi lowered the firm’s price target on Cabaletta Bio (CABA) to $13 from $17 and keeps a Buy rating on the shares post the Q1 report. The company has received FDA alignment on a registrational trial design for rese-cel in myositis and now anticipates application submission for full approval in 2027, the analyst tells investors in a research note. With regulatory alignment in hand, Citi thinks Cabaletta is leading in the myositis CAR-T space and could be first to launch.
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