Cabaletta Bio, a Phase 1-ready biotech developing engineered T cells for autoimmune diseases, announced terms for its IPO on Wednesday.
The Philadelphia, PA-based company plans to raise $87 million by offering 5.8 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Cabaletta Bio would command a fully diluted market value of $358 million.
Cabaletta Bio was founded in 2017 and plans to list on the Nasdaq under the symbol CABA. Morgan Stanley, Cowen and Evercore ISI are the joint bookrunners on the deal. It is expected to price on Thursday, October 24, 2019.
