
Cabaletta Bio is rated Buy, trading 40% below its $2.41 pipeline value despite a single-asset risk profile. CABA's lead CAR T asset, rese-cel, targets severe autoimmune diseases with pivotal Phase 1/2 data expected mid-2027 and BLA submission planned for late 2027. A recent 10-year manufacturing deal with Cellares lowers future COGS, supporting margin expansion if rese-cel is approved.










