Cabaletta Bio (CABA) Operating Expenses (2018 - 2025)

Cabaletta Bio's (CABA) quarterly Operating Expenses came in at $42.6 million in Q4 2025, up 26.12% year-on-year from $33.8 million in Q4 2024, and down 8.54% quarter-over-quarter from $46.6 million in Q3 2025.

Cabaletta Bio (CABA) Operating Expenses (2018 - 2025) Analysis & Trends

Cabaletta Bio's Operating Expenses history runs 8 years deep, the most recent figure standing at $42.6 million for Q4 2025.

  • On a quarterly basis, Operating Expenses rose 26.12% year-over-year to $42.6 million in Q4 2025; TTM through Dec 2025 was $172.2 million, a 37.64% increase from a year earlier, with the FY2025 full-year figure at $172.2 million, up 37.64% from the prior year.
  • Operating Expenses fell to $42.6 million in Q4 2025 per CABA's latest filing, from $46.6 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $46.6 million in Q3 2025 and bottomed at $9.7 million in Q1 2021.
  • The 5-year median for Operating Expenses is $17.8 million (2023), against an average of $23.6 million.
  • Across the five-year window, Operating Expenses increased 1.86% in 2022 and surged 90.55% in 2024, its largest moves.
  • Year by year, Operating Expenses stood at $13.9 million in 2021, then rose by 17.34% to $16.3 million in 2022, then soared by 41.98% to $23.1 million in 2023, then surged by 45.96% to $33.8 million in 2024, then advanced by 26.12% to $42.6 million in 2025.
  • Per Business Quant, the three latest CABA Operating Expenses figures stand at $42.6 million (Q4 2025), $46.6 million (Q3 2025), and $45.9 million (Q2 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Oculis Holding AG 68,785.72 Bn 68,785.72 Bn - -28.01 Mn
2 Nanobiotix 1,895.57 Bn 1,895.51 Bn - -
3 BeOne Medicines 471.35 Bn 466.56 Bn 1.35 Bn 1.10 Bn
4 NuCana 279.75 Bn 279.75 Bn - -3.78 Mn
5 Vertex Pharmaceuticals 120.24 Bn 113.00 Bn 2.59 Bn 1.85 Bn
6 Regeneron Pharmaceuticals 67.80 Bn 59.04 Bn 3.31 Bn 2.96 Bn
7 Belite Bio 62.51 Bn 62.51 Bn - 32.68 Mn
8 Argenx Se 57.38 Bn 57.38 Bn 1.41 Bn 2.89 Bn
9 Revolution Medicines 37.78 Bn 37.78 Bn - 445.22 Mn
10 Cabaletta Bio 182.04 Mn 182.04 Mn - 42.61 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 42.61 Mn
Sep 30, 2025 46.59 Mn
Jun 30, 2025 45.91 Mn
Mar 31, 2025 37.14 Mn
Dec 31, 2024 33.79 Mn
Sep 30, 2024 33.05 Mn
Jun 30, 2024 30.28 Mn
Mar 31, 2024 28.03 Mn
Dec 31, 2023 23.15 Mn
Sep 30, 2023 18.67 Mn
Jun 30, 2023 15.89 Mn
Mar 31, 2023 16.96 Mn
Dec 31, 2022 16.30 Mn
Sep 30, 2022 11.78 Mn
Jun 30, 2022 13.06 Mn
Mar 31, 2022 13.00 Mn
Dec 31, 2021 13.89 Mn
Sep 30, 2021 11.56 Mn
Jun 30, 2021 11.15 Mn
Mar 31, 2021 9.71 Mn