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)

v3.24.3

Common Stock (Tables)

9 Months Ended

Sep. 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		2,848,700			18.72
Exercised		(210,695	)		6.79				2,889
Forfeited/Cancelled		(168,242	)		15.15
Outstanding as of September 30, 2024		10,610,798		$	11.01		7.5	$	5,558
Options Exercisable at September 30, 2024		5,256,253		$	7.82		6.3	$	4,336

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:


	Nine Months Ended September 30,
	2024	2023
Risk-free interest rate	3.43%—4.60%	3.38%—4.38%
Expected term	5.5 years—6.2 years	5.5 years—6.1 years
Expected volatility	104%—110%	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:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Research and development	$	2,769	$	1,413	$	7,325	$	4,041
General and administrative		2,481		1,596		6,729		4,251
Total	$	5,250	$	3,009	$	14,054	$	8,292

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