Cabaletta Bio Shares Rose 15% After FDA Approves IND Application for CABA-201
By Chris Wack
Cabaletta Bio shares were up 15% to $13.16 on Tuesday after the company said its second Investigational New Drug application for CABA-201 has been cleared by the U.S. Food and Drug Administration for a Phase 1/2 study in patients with active idiopathic inflammatory myopathy.
The stock hit its 52-week high of $13.34 on May 3, and is up 623% in the past 12 months.
The company said it plans to begin a Phase 1/2 clinical trial of CABA-201 for the treatment of six patients with dermatomyositis, six patients with anti-synthetase syndrome, and six patients with immune-mediated necrotizing myopathy, all in separate parallel cohorts.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 16, 2023 13:27 ET (17:27 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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