University of Pennsylvania spinout Cabaletta has gone public after raising $74.8m in an initial public offering on the Nasdaq Global Select Market.
Cabaletta Bio, a US-based autoimmune disease treatment developer spun out of University of Pennsylvania, has completed a $74.8m initial public offering on the Nasdaq Global Select Market.
The spinout issued 6.8 million shares priced at $11 each, below its target range of $14 to $16. Its shares opened at $10 on the first day of trading last Friday and have so far remained below the IPO price.
Founded in 2017, Cabaletta Bio is focused on treatments for…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
