CalciMedica Q2 net loss widens
CalciMedica Q2 net loss widens
Overview
Biopharmaceutical developer's Q2 net loss widened yr/yr
Company completed private placement financing of up to $49 mln to advance pulmonary hypertension program
Cash and equivalents of $18.6 mln expected to fund operations into H2 2027
Outlook
CalciMedica expects Auxora Phase 1b PAH trial data and CM5480 IND submission in mid-2027
Company expects current cash to fund operations into the second half of 2027
Initiation of Phase 2b Auxora trial in acute pancreatitis subject to additional financing
Result Drivers
LOWER R&D AND G&A EXPENSES - Co said declines in research and development and general and administrative expenses were due to reduced preclinical and clinical trial activities, as well as lower personnel and consultant costs
HIGHER OTHER EXPENSES - Co said increase in other expenses was mainly due to changes in the fair value of financial instruments
Company press release: ID:nGNXLGFkT
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Loss |
| $7.65 mln |
|
Q2 Income From Operations |
| -$4.01 mln |
|
Q2 Loss Per Basic Share |
| $0.45 |
|
Q2 Operating Expenses |
| $4.01 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for CalciMedica Inc is $10.50, about 1,493.3% above its August 10 closing price of $0.66
Reuters Recommended Reads
Aug 10 - Olema Pharmaceuticals Q2 net loss widens on higher clinical trial spending
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Aug 10 - Biohaven Q2 net loss narrows on lower R&D spend
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)