Monitor upcoming ACR Convergence 2026 presentations for one-year DM durability data and updated safety data. The PC-free dose optimization announcement in 1H27 will be a key catalyst for the development strategy.
How the stock moved after the report
NEUTRAL VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 5 $1.28entry
- T+1 · 2d ago +1.56%α +1.25% · $1.30
- T+5 · in 4d Pending
- T+20 · in 26d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
Cash position strengthened to $299.4M, extending runway into Q1 2028. Key clinical milestones include RESET-Myositis registrational topline results expected in 2H27 with BLA submission in 1Q28, and initiation of the RESET-SSc registrational cohort.
Key Financial Metrics
Key Facts
- Net loss of $53.1M for Q3 2026 vs $44.9M in Q3 2025
- Cash and cash equivalents of $299.4M as of Sep 30, 2026, up from $133.6M at Dec 31, 2025
- Cash runway extended into Q1 2028
- RESET-Myositis registrational topline results expected 2H27, BLA submission planned for 1Q28
- RESET-SSc registrational cohort initiated in systemic sclerosis patients with interstitial lung disease
- PC-free program advancing with go-forward plans expected 1H27
- R&D expenses $47.1M in Q3 2026 vs $39.8M in Q3 2025
- G&A expenses $7.6M in Q3 2026 vs $6.8M in Q3 2025
Financial Impact
Net loss widened to $53.1M from $44.9M; cash increased $165.8M from year-end 2025 to $299.4M, partly from $115M warrant exercises
Risk Factors
- Slower enrollment in registrational myositis study during 3Q26 due to patient/physician caution after safety events from other CAR-T developers
- Pre-revenue stage with widening net losses; reliance on cash runway into 1Q28 for milestones
- Clinical and regulatory risk for rese-cel across multiple autoimmune indications
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001759138-26-000046 |
| Document: caba-20261105.htm | 0001759138-26-000046 |
| Document: 0001759138-26-000046-index-headers.html | 0001759138-26-000046 |
| Document: 0001759138-26-000046-index.html | 0001759138-26-000046 |
| Document: 0001759138-26-000046.txt | 0001759138-26-000046 |
| 8-K Data (Synthetic) | 0001759138-26-000046 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 8, 2026 today | Press Release | No price | awaiting T+5 | awaiting T+5 | No price |
Nov 6, 2026 2d ago | SC 13G/A | $1.30 | awaiting T+5 | awaiting T+5 | $1.30 (+0.39%) |
Nov 6, 2026 2d ago | SC 13G/A | $1.31 | awaiting T+5 | awaiting T+5 | $1.30 (−0.38%) |
Nov 5, 2026 3d ago | 8-K | $1.28 | awaiting T+5 | awaiting T+5 | $1.30 (+1.56%) |
Nov 5, 2026 3d ago | Press Release | No price | awaiting T+5 | awaiting T+5 | No price |
Oct 30, 2026 9d ago | SC 13G/A | $1.51 $1.30 | ▼ −13.91% | ▼ −11.20% | $1.30 (−13.91%) |
Oct 27, 2026 11d ago | SC 13G/A | $1.52 $1.42 | ▼ −6.58% | ▼ −5.87% | $1.30 (−14.47%) |
Sep 14, 2026 7w ago | 8-K | $2.91 $2.46 | ▼ −15.46% | ▼ −15.57% | $1.30 (−55.33%) |
Aug 15, 2026 12w ago | Institutional Cluster | $2.89 $3.10 | ▲ +7.27% | ▲ +8.46% | $1.30 (−55.02%) |
Aug 13, 2026 12w ago | 8-K | No price | awaiting T+5 | awaiting T+5 | No price |
US Market Status
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