CalciMedica (CALC) AI Stock Analysis

• Market Cap: $10.18M
• Dividend Yield: N/A
• Average Volume (3M): 71.94K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.02
• 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: 0.82
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -1.67K
• Enterprise Value/Ebitda: -0.38
• 1Y Price Target: $10.00
• Price Target Upside: 1438.46% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -1.37
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $0.61 ▼(-5.54% Downside)
• Action: Downgraded Date: 03/19/26
• Date: Action: Downgraded 03/19/26

The score is primarily pressured by weak financial fundamentals (no revenue, ongoing cash burn, and negative equity) and a poor technical setup (price far below longer-term moving averages with negative MACD). Valuation offers little support due to large losses and no dividend, while recent corporate events add risk via delisting warnings and the halted Phase 2 trial despite a modest runway extension.

Positive Factors

Low leverage / no debt

Having no recorded debt in 2024–2025 materially reduces fixed financial obligations and bankruptcy risk, preserving flexibility to fund development via equity or partnerships. Over a multi-month horizon this improves solvency resilience and negotiating leverage with potential collaborators or lenders.

Extended cash runway into Q4 2026

Extending runway to Q4 2026 after halting the trial gives management time to analyze unblinded data, pursue strategic alternatives, and seek partnerships or financings without immediate distress. This structural extension reduces near-term dilution pressure and supports orderly planning over several quarters.

Focused CRAC/calcineurin therapeutic platform

A concentrated scientific focus on CRAC/calcineurin signaling builds technical expertise and a potentially reusable drug platform across multiple high-need inflammatory indications. This platform approach can create durable competitive advantages and make assets attractive for future licensing or partnering opportunities.

Negative Factors

Sustained cash burn and negative free cash flow

Operating and free cash flows near -$21M annually indicate heavy reliance on external financing to sustain operations. Over a 2–6 month horizon this elevates financing risk, increases likely dilution, and constrains the ability to fund new trials or scale programs without securing capital or partners.

Phase 2 KOURAGE trial discontinued for safety review

Halting a Phase 2 study for safety reasons is a substantive pipeline setback that lowers near-term probability of product advancement and approval. It increases uncertainty around clinical design, may require additional studies or redesign, and can deter partners, slowing commercial prospects for the program.

Nasdaq listing non-compliance and delisting risk

Nasdaq deficiency notices create structural risks to liquidity and access to public capital. Potential delisting or forced remedial actions (reverse split, uplisting attempts) can reduce investor confidence, impair fundraising ability, and materially raise the cost and complexity of securing needed capital.

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 and ongoing losses. Positive: no debt in 2024–2025 reduces leverage risk. Negative: equity turned negative in 2025 and operating/free cash flow remain around -$21M, increasing reliance on external funding.

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: 0.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

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 0.65 is below the 20-day moving average (MA) of 0.67, below the 50-day MA of 1.82, and below the 200-day MA of 2.91, indicating a bearish trend. The MACD of -0.22 indicates Negative momentum. The RSI at 35.65 is Neutral, neither overbought nor oversold. The STOCH value of 17.79 is Positive, 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	$25.05M	-2.82	-125.98%	―	―	1.18%
SNTI	48 Neutral	$23.66M	-0.51	-197.68%	―	―	78.60%
PDSB	47 Neutral	$31.22M	-1.31	-208.95%	―	―	29.95%
SKYE	45 Neutral	$21.42M	-0.53	-143.59%	―	―	-53.18%
CALC	40 Underperform	$10.18M	-3,346.34	-526.36%	―	―	-2.46%

CalciMedica Corporate Events

CalciMedica Receives Nasdaq Deficiency Notices on Listing Standards

On March 13, 2026, CalciMedica, Inc. received notice from Nasdaq that it was not in compliance with Listing Rule 5550(b)(2) because its market value of listed securities had been below the $35 million minimum for 30 consecutive business days, and it also failed to meet alternative equity and net income standards. The company has until September 9, 2026, to regain compliance by meeting any of the applicable market value, stockholders’ equity, or net income thresholds, or it faces the prospect of its securities being delisted from the Nasdaq Capital Market.

On March 16, 2026, CalciMedica was separately notified that it was out of compliance with Nasdaq’s minimum bid price requirement after its stock traded below $1.00 for 30 consecutive business days. The company has until September 14, 2026, to lift its share price to at least $1.00 for 10 straight business days, may qualify for an additional 180-day cure period under certain conditions, and is considering options such as a reverse stock split, although the Nasdaq notices do not immediately affect trading.

The most recent analyst rating on (CALC) stock is a Hold with a $0.79 price target. To see the full list of analyst forecasts on CalciMedica stock, see the CALC Stock Forecast page.

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.