Home / Going-concern warnings / Cabaletta Bio, Inc.
Filed 2026-03-23 路 Form 10-K 路 Accession 0001759138-26-000011 small
Price before filing: $2.94 (2026-03-20 close, split/dividend-adjusted)
Market cap at flag: $315.9M (2026-03-23) 路 Latest: $213.1M (2026-10-16)
| Window | CABA | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +7.8% | +9.7% | -1.8% | 2026-04-22 |
| 90 days | +2.4% | +15.1% | -12.7% | 2026-06-22 |
| 180 days | -16.3% | +19.9% | -36.2% | 2026-09-21 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 8 insiders bought $296K (8 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-01-21 | Binder Gwendolyn President, Science & Tech. | Purchase | 11,312 | $2.19 | $25K | no | Form 4 |
| 2026-01-21 | Bollard Catherine Director | Purchase | 4,405 | $2.27 | $10K | no | Form 4 |
| 2026-01-21 | Chang David J. Chief Medical Officer | Purchase | 8,800 | $2.26 | $20K | no | Form 4 |
| 2026-01-21 | Gavel Steve Chief Commercial Officer | Purchase | 22,170 | $2.27 | $50K | no | Form 4 |
| 2026-01-21 | Gerard Michael General Counsel | Purchase | 6,600 | $2.27 | $15K | no | Form 4 |
| 2026-01-21 | Nichtberger Steven President & CEO, Director | Purchase | 45,000 | $2.24 | $101K | no | Form 4 |
| 2026-01-21 | Simon Mark Director | Purchase | 11,061 | $2.28 | $25K | no | Form 4 |
| 2026-01-21 | Tomasello Shawn Director | Purchase | 22,725 | $2.21 | $50K | no | Form 4 |
| 2026-03-23: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-23 to 2026-04-22. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"We have also identified conditions that raise substantial doubt about our ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-K (period 2025-12-31)
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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