Cabaletta Bio, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $142.7M | $97.2M | $55.4M | $39.3M | $32.5M |
| Operating expenses | $172.2M | $125.1M | $74.7M | $54.1M | $46.3M |
| Operating income | -$172.2M | -$125.1M | -$74.7M | -$54.1M | -$46.3M |
| Interest expense | $2.0M | $748,000 | $0 | — | — |
| Income tax expense | $0 | $0 | — | — | — |
| Net income | -$167.9M | -$115.9M | -$67.7M | -$53.0M | -$46.3M |
| Balance Sheet | |||||
| Cash and equivalents | $83.0M | $164.0M | $193.2M | $81.6M | $122.2M |
| Current assets | $138.9M | $166.7M | $244.5M | $108.8M | $124.5M |
| Total assets | $165.1M | $185.0M | $253.7M | $117.0M | $126.3M |
| Current liabilities | $50.2M | $27.1M | $16.0M | $9.5M | $8.4M |
| Total liabilities | $53.0M | $32.7M | $17.5M | $12.4M | $8.4M |
| Stockholders' equity | $112.1M | $152.3M | $236.2M | $104.5M | $118.0M |
| Cash Flow Statement | |||||
| Cash from operations | -$131.1M | -$88.2M | -$53.5M | -$46.4M | -$34.1M |
| Depreciation and amortization | $1.6M | $1.7M | $1.4M | $1.2M | $733,000 |
| Stock-based compensation | $20.9M | $19.5M | $11.3M | $6.9M | $5.8M |
| Capital expenditure | $1.2M | $2.2M | $687,000 | $2.5M | $1.2M |
| Free cash flow | -$132.3M | -$90.4M | -$54.2M | -$48.8M | -$35.3M |
Shares outstanding 163.1M · Free float 99.2%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.