Ca­balet­ta lands $84M from stock sale af­ter FDA clears INDs for CD19 CAR-T in au­toim­mune dis­eases

With the FDA’s clear­ance to put its CD19 CAR-T in­to two clin­i­cal tri­als for au­toim­mune dis­eases, Ca­balet­ta Bio has scored $87 mil­lion from a pub­lic of­fer­ing to foot the bill.

Ca­balet­ta — a Uni­ver­si­ty of Penn­syl­va­nia spin­out — sold 7,250,000 at $12 per share, which the com­pa­ny said will fund the de­vel­op­ment of CA­BA-201 in mul­ti­ple in­di­ca­tions, as well as to “ad­vance man­u­fac­tur­ing ca­pa­bil­i­ties in prepa­ra­tion for late-stage clin­i­cal tri­als and com­mer­cial readi­ness for CA­BA-201.” Some of the mon­ey will al­so go to­ward its oth­er pro­grams.

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