Cabaletta Bio rises on FDA fast track tag for muscle disease therapy

Cabaletta Bio

01/03/2022 16:15

** Shares of autoimmune disease drug developer  CABA.O  rise
1.5% to $2.19
    ** Co says the U.S. FDA granted fast track designation for
its experimental treatment for patients with a type of
myasthenia gravis- a muscle-weakening disease  urn:newsml:reuters.com:*:nGNXq0Yw8
    ** FDA's fast track tag is intended to speed up development
and review of therapeutics intended to treat serious or
life-threatening conditions
    ** Co's application to start a clinical trial of the
therapy, MuSK-CAART, which was recently cleared by the agency;
co plans to initiate the trial this year 
    ** MuSK-CAART is designed to work against disease-causing
autoantibodies that target a protein found in muscle cells
    ** Stock down 43% YTD, up to the last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))