Cabaletta Bio rises on FDA nod for human trials of lupus treatment

Cabaletta Bio

31/03/2023 18:11

(Updates)
    ** Autoimmune disease drug developer Cabaletta Bio Inc's
 CABA.O  shares rise 14.1% to $8.10
    ** Stock set for biggest one day pct rise in 2 months, if
gains hold
    ** Company says U.S. FDA has cleared its application to
start trials in humans for CABA-201, a treatment for a type of
lupus
    ** Cabaletta plans to start early-to-mid-stage CABA-201
trial
    ** Systemic lupus erythematosus is an autoimmune disease in
which the immune system attacks its own tissues, causing
inflammation and tissue damage
    ** Despite session's gains, stock down ~14% YTD

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com))