Cabaletta Bio, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Common Stock (Tables)

v3.24.2.u1

Common Stock (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Summary of Stock Option Activity

A summary of stock option activity is presented below:


	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding as of January 1, 2024		8,141,035		$	8.28		7.6	$	117,384
Granted		2,416,800			20.94
Exercised		(195,220	)		6.96				2,850
Forfeited/Cancelled		(108,949	)		14.96
Outstanding as of June 30, 2024		10,253,666		$	11.22		7.7	$	13,427
Options Exercisable at June 30, 2024		4,906,136		$	7.75		6.4	$	9,795

Schedule of Assumptions Used to Estimate Fair Value of Stock Options

The fair value of each award is estimated using Black-Scholes based on the following assumptions:


	Six months ended June 30,
	2024	2023
Risk-free interest rate	3.78%—4.60%	3.38%—3.95%
Expected term	5.5 years—6.2 years	5.5 years—6.1 years
Expected volatility	104%—110%	106%—107%
Expected dividend yield	0%	0%

Summary of Stock-Based Compensation

The Company has recorded stock-based compensation in the accompanying statements of operations as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development	$	2,596	$	1,392	$	4,556	$	2,628
General and administrative		2,417		1,411		4,248		2,655
Total	$	5,013	$	2,803	$	8,804	$	5,283

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