CalciMedica Ends KOURAGE Trial, Extends Cash Runway

CalciMedica ( (CALC) ) has shared an announcement.

On January 28, 2026, CalciMedica announced it had discontinued its Phase 2 KOURAGE clinical trial, acting on a recommendation from the study’s Independent Data Monitoring Committee, marking a setback in the advancement of that particular drug candidate. As a result of terminating the trial and the associated reduction in planned operating expenses, the company updated its financial outlook, now expecting its existing cash, cash equivalents and short-term investments to fund its operating plan into the fourth quarter of 2026, extending its projected cash runway compared with prior guidance for the second half of 2026.

The most recent analyst rating on (CALC) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on CalciMedica stock, see the CALC Stock Forecast page.

Spark’s Take on CALC Stock

According to Spark, TipRanks’ AI Analyst, CALC is a Neutral.

The score is held down primarily by weak financial fundamentals (no revenue, continued losses/cash burn, and a weakened balance sheet with negative equity and added debt). Technicals are a notable offset, showing strong upward momentum above key moving averages. Valuation is constrained by losses (negative P/E), while the expanded stock offering modestly improves funding flexibility but adds dilution risk.

To see Spark’s full report on CALC stock, click here.

More about CalciMedica

CalciMedica, Inc. is a biopharmaceutical company focused on developing therapeutic candidates, including those evaluated in mid-stage clinical trials such as the Phase 2 KOURAGE study, targeting specific disease indications within the healthcare market.

Average Trading Volume: 86,065

Technical Sentiment Signal: Buy

Current Market Cap: $75.22M

For a thorough assessment of CALC stock, go to TipRanks’ Stock Analysis page.