CalciMedica (CALC) AI Stock Analysis

• Market Cap: $14.12M
• Dividend Yield: N/A
• Average Volume (3M): 71.94K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.12
• Revenue Growth: N/A
• EPS Growth: -2.46%
• Country: US
• Employees: 14
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.68
• Shares Outstanding: 15,743,916
• 10 Day Avg. Volume: 167,963
• 30 Day Avg. Volume: 71,939
• PEG Ratio: -54.43
• Price to Book (P/B): -14.90K
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.66K
• Enterprise Value/Market Cap: 0.87
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -2.46K
• Enterprise Value/Ebitda: -0.56
• 1Y Price Target: $10.00
• Price Target Upside: 1104.82% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -1.37
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.79 ▼(-4.46% Downside)
• Action: Upgraded Date: 03/14/26
• Date: Action: Upgraded 03/14/26

The score is primarily weighed down by weak financials (no revenue, continued losses, substantial cash burn, and negative equity) and bearish technical trend signals (below major moving averages with negative MACD). Valuation offers limited support due to negative earnings and no dividend, and corporate events add risk given the halted Phase 2 trial despite a modest runway extension.

Positive Factors

Targeted CRAC-channel platform

CalciMedica’s focused scientific platform targeting calcineurin/CRAC signaling provides a clear, durable R&D strategy. A platform approach can yield multiple indications from shared biology, concentrating expertise and enabling reuse of preclinical/clinical learnings to improve future program success odds.

Low financial leverage (no debt)

The absence of debt reduces fixed obligations and interest burden, preserving operational flexibility during a development-stage horizon. This structural low-leverage profile lowers near-term default risk and gives management more optionality in financing or restructuring R&D plans as programs evolve.

Extended cash runway into Q4 2026

Extending runway through Q4 2026 via expense reductions is a meaningful structural relief: it provides management time to analyze clinical data, redesign trials, or pursue partnerships without immediate financing pressure. That added runway materially reduces the risk of imminent insolvency.

Negative Factors

Sustained cash burn and operating losses

Persistent ~-$21M annual operating cash burn is a structural drain on resources for a pre-revenue biotech. Continued negative free cash flow forces repeated capital raises or asset sales, diluting shareholders and constraining the company’s ability to progress multiple programs without external funding.

Deteriorated balance sheet / negative equity

A shift to negative shareholders’ equity weakens balance sheet resilience and can hamper financing terms. Structural equity erosion increases counterparty and investor concern, making future capital raises more dilutive or expensive and limiting strategic flexibility during extended development cycles.

Material clinical setback: Phase 2 halted for safety review

Halting a Phase 2 trial on safety grounds is a durable negative for a clinical-stage company: it raises questions about the program’s viability, can necessitate new trials or redesigns, lengthens timelines, increases costs, and may reduce partner appetite for the asset or platform.

CalciMedica Business Overview & Revenue Model

Company Description

CalciMedica, Inc., a clinical-stage biotechnology company, focuses on developing therapies for life-threatening inflammatory diseases with unmet needs. Its proprietary technology targets the inhibition of calcium release-activated (CRAC) channels designs to modulate the immune response and protect against tissue cell injury in life-threatening inflammatory diseases. Its lead product candidate is Auxora, a proprietary intravenous-formulated CRAC channel inhibitor for the treatment of acute pancreatitis, asparaginase-associated acute pancreatitis, and acute kidney injury. The company is based in La Jolla, California.

How the Company Makes Money

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CalciMedica Financial Statement Overview

Summary

Development-stage profile with $0 revenue, recurring losses, and sizable ongoing cash burn (~-$21M operating cash flow in 2024–2025). The absence of debt is a positive, but negative equity in 2025 and a wider 2025 net loss versus 2024 increase reliance on external financing.

Income Statement

The company remains pre-revenue (revenue is $0 across all provided annual periods), with persistent operating losses. Losses improved meaningfully in 2024 versus 2023, but widened again in 2025 (net loss of ~$29.6M vs ~$13.7M in 2024), indicating uneven cost control and limited near-term earnings visibility.

Balance Sheet

Leverage appears low with total debt at $0 in 2024–2025, reducing financial risk. However, equity deteriorated sharply and turned negative in 2025 (stockholders’ deficit of ~$6.6M), which weakens balance sheet resilience and can increase future funding dependence; total assets also declined from 2024 to 2025.

Cash Flow

Cash burn is substantial and steady, with operating cash flow around -$21M in both 2024 and 2025 and free cash flow also near -$21M. Free cash flow worsened in 2025 versus 2024, suggesting the runway may be tightening absent new capital, even though cash burn is broadly aligned with reported losses.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-46.00K	0.00	0.00	0.00	-519.00K
EBITDA	-23.12M	-24.15M	-38.02M	-7.64M	-35.30M
Net Income	-29.56M	-13.70M	-34.36M	-7.82M	-35.82M
Balance Sheet
Total Assets	13.59M	19.79M	12.19M	3.35M	69.09M
Cash, Cash Equivalents and Short-Term Investments	13.02M	18.67M	11.24M	1.33M	63.67M
Total Debt	9.70M	0.00	0.00	5.36M	0.00
Total Liabilities	20.23M	5.38M	4.03M	12.58M	4.07M
Stockholders Equity	-6.64M	14.41M	8.16M	-9.23M	65.02M
Cash Flow
Free Cash Flow	-21.21M	-21.15M	-25.81M	-11.76M	-31.99M
Operating Cash Flow	-21.18M	-21.15M	-25.73M	-11.76M	-31.50M
Investing Cash Flow	9.55M	-4.42M	8.88M	-4.00K	10.75M
Financing Cash Flow	15.21M	27.97M	20.90M	8.48M	695.00K

CalciMedica Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.83
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CALC, the sentiment is Negative. The current price of 0.83 is above the 20-day moving average (MA) of 0.63, below the 50-day MA of 2.34, and below the 200-day MA of 2.94, indicating a neutral trend. The MACD of -0.31 indicates Negative momentum. The RSI at 41.96 is Neutral, neither overbought nor oversold. The STOCH value of 87.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CALC.

CalciMedica Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
LTRN	50 Neutral	$26.95M	-2.82	-125.98%	―	―	1.18%
SKYE	48 Neutral	$23.89M	-0.53	-143.59%	―	―	-53.18%
SNTI	48 Neutral	$25.80M	-0.51	-197.68%	―	―	78.60%
PDSB	47 Neutral	$34.62M	-1.31	-208.95%	―	―	29.95%
CALC	41 Neutral	$14.12M	-2,298.43	-526.36%	―	―	-2.46%

CalciMedica Corporate Events

CalciMedica Ends KOURAGE Trial, Extends Cash Runway

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.

CalciMedica Halts Phase 2 KOURAGE Trial After Safety Review

On January 28, 2026, CalciMedica announced it had discontinued its Phase 2 KOURAGE clinical trial of Auxora in patients with Stage 2 or 3 acute kidney injury with associated acute hypoxemic respiratory failure, following a recommendation from the trial’s Independent Data Monitoring Committee after an interim review raised a safety concern related to study design and patient enrollment criteria. While no deaths were deemed related to Auxora or placebo and no serious adverse events required expedited reporting to the FDA, the company has halted the study, will conduct a comprehensive analysis of the unblinded data to understand the role of baseline characteristics and disease factors in patient outcomes, and has notified regulators while ensuring enrolled patients complete 90-day follow-up, even as it continues to position Auxora and its broader CRAC inhibitor portfolio for potential future trials and indications in high-need inflammatory conditions.

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.