Cabaletta Bio, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

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)

v3.25.1

Common Stock (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Summary of Stock Option Activity

A summary of the 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		3,476,700			16.13
Exercised		(210,695	)		6.79				2,889
Forfeited/Cancelled		(175,892	)		15.04
Outstanding as of December 31, 2024		11,231,148		$	10.63		7.4	$	989
Options Exercisable at December 31, 2024		5,642,705		$	7.92		6.1	$	966

Summary 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:


	Year Ended December 31,
	2024	2023
Risk-free interest rate	3.43%—4.60%	3.38%—4.68%
Expected term	5.5 years—6.2 years	5.5 years—6.1 years
Expected volatility	106%—111%	105%—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:


	Year Ended December 31,
	2024		2023
Research and development	$	10,163	$	5,520
General and administrative		9,302		5,823
Total	$	19,465	$	11,343

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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