CABA-201 is a gene-modified cell therapy commercialized by Cabaletta Bio, with a leading Phase II program in Dermatomyositis. According to Globaldata, it is involved in 4 clinical trials, of which 2 are ongoing, and 2 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of CABA-201’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
The revenue for CABA-201 is expected to reach an annual total of $67 mn by 2039 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
Cabaletta Bio Overview
Cabaletta Bio is a biopharmaceutical company that develops cellular therapies for the treatment of B cell-mediated autoimmune diseases. The company utilizes its platform that encompasses CARTA (chimeric antigen receptor T cells for autoimmunity) strategy and CAART (chimeric autoantibody receptor T cells) strategy. Its product pipeline includes CABA-201, a fully human CD19 chimeric antigen receptor to treat systemic lupus erythematosus, rheumatoid arthritis, myositis, and systemic sclerosis; and DSG3-CAART for the treatment of mucosal pemphigus vulgaris. Cabaletta is also investigating other programs including MuSK-CAART to treat myasthenia gravis; PLA2R-CAART against membranous nephropathy and DSG3/1-CAART for the treatment of mucocutaneous pemphigus vulgaris. The company works in collaboration with Yale, the University of California, Stanford Medicine, University of Pennsylvania among others. Cabaletta Bio is headquartered in Philadelphia, Pennsylvania, US.
The operating loss of the company was US$54.1 million in FY2022, compared to an operating loss of US$46.3 million in FY2021. The net loss of the company was US$53 million in FY2022, compared to a net loss of US$46.3 million in FY2021.
For a complete picture of CABA-201’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.