NEW YORK, Jan. 6, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Cabaletta Bio, Inc. (“Cabaletta” or the “Company”) (NASDAQ: CABA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Cabaletta and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around October 24, 2019, Cabaletta conducted its initial public offering (“IPO”), selling 6.8 million shares of common stock priced at $11.00 per share. Then, on December 14, 2021, Cabaletta issued a press release “report[ing] top-line data on biologic activity from the two lowest dose cohorts in the DesCAARTes™ Phase 1 clinical trial of DSG3-CAART for the treatment of patients with mucosal Pemphigus Vulgaris (mPV).” Among other results, Cabaletta reported that two cohort participants had “disease activity scores that worsened . . . after DSG3-CAART infusion” and thus “reduced or discontinued selected systemic therapies prior to DSG3-CAART infusion, as required by the protocol”, while another participant “subsequently received systemic medication to improve disease activity after DSG3-CAART infusion.”
On this news, Cabaletta’s stock price fell $9.15 per share, or 73.14%, to close at $3.36 per share on December 14, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT: Robert S. WilloughbyPomerantz LLP [email protected] 888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
