Cabaletta Bio, Inc.

Cabaletta Bio, Inc. (CABA) priced its initial public offering on Oct 25, 2019 at $11.00 per share, below its $14.00–$16.00 range, raising $74.8M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $259.1M. Morgan Stanley was lead-left underwriter, joined by TD Cowen and Evercore ISI. Goodwin Procter advised the company and Ropes & Gray advised the underwriters.

Cabaletta Bio, Inc. is a clinical-stage biotechnology company developing engineered T cell therapies for B cell-mediated autoimmune diseases. Its CAAR T cell technology is designed to selectively bind and eliminate the B cells that produce disease-causing autoantibodies while sparing normal B cells.

Status

IPO

Ticker

CABA

Exchange

Nasdaq Global Select

Priced

Oct 25, 2019

IPO price

$11.00

Price range

$14.00–$16.00

Raised

$74.8M

Market cap at IPO price

$259.1M

First filed

Sep 30, 2019

Underwriters

Morgan Stanley, TD Cowen and Evercore ISI

Company counsel

Goodwin Procter

Underwriters' counsel

Ropes & Gray

Sector

Biotech & pharma

Country / state

PA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.