CALC CalciMedica Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 13, 2024

 

 

CalciMedica, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			001-39538	45-2120079
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
505 Coast Boulevard South, Suite 307
La Jolla, California				92037
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (858) 952-5500

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		CALC		The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

---

Item 2.02. Results of Operations and Financial Condition.

 

On November 13, 2024 CalciMedica, Inc. issued a press release announcing its financial results for the fiscal quarter ended September 30, 2024. A copy of the press release is attached as Exhibit 99.1 to this report.

The information in this Item 2.02, including Exhibit 99.1 to this report, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any other filing under the Exchange Act or under the Securities Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
99.1		Press Release dated November 13, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			CalciMedica, Inc.
Date:	November 13, 2024	By:	/s/ A. Rachel Leheny, Ph. D.
		Name: Title:	A. Rachel Leheny, Ph. D. Chief Executive Officer

 

---

 

Exhibit 99.1

 

CalciMedica Reports Third Quarter 2024 Financial Results and Provides Clinical & Corporate Updates

 

Additional positive data, including a win ratio analysis, announced from CARPO Phase 2b trial of Auxora™ in acute pancreatitis (AP); Company expects to be in a position to initiate Phase 3 program in 2025

 

Enrollment ongoing in Phase 2 KOURAGE trial in acute kidney injury (AKI) and in Phase 2 portion of CRSPA trial in asparaginase-induced pancreatic toxicity (AIPT); data from both trials expected in 2025

 

Following a public offering in October, the Company’s cash position is expected to fund current operations into the first half of 2026

 

LA JOLLA, CA, Nov. 13, 2024 – CalciMedica Inc. (“CalciMedica” or the “Company”) (Nasdaq: CALC), a clinical-stage biopharmaceutical company focused on developing novel calcium release-activated calcium (CRAC) channel inhibition therapies for acute and chronic inflammatory and immunologic illnesses, today reported financial results for the third quarter ended September 30, 2024 and provided clinical and corporate updates.

 

“These past few months have been very exciting for CalciMedica, punctuated by our announcement of the full data set and win ratio analysis from our Phase 2b CARPO trial in patients with AP, which was presented by Prof. Sutton at the American College of Gastroenterology Annual Meeting last month,” said Rachel Leheny, Ph.D., Chief Executive Officer of CalciMedica. “With its unique dual mechanism of immunomodulation and direct organ tissue protection, we believe Auxora continues to be a promising candidate for treating not only AP patients, but also critically ill patients suffering from other acute inflammatory diseases, such as AKI. We are committed to working closely with the FDA to design a pivotal program for Auxora in AP, and we continue to make progress in KOURAGE, our Phase 2 trial of Auxora in patients with severe AKI, with enrollment ongoing and topline data expected in 2025.”

 

Recent Clinical Updates and Anticipated Milestones:

 

---

The Company is planning an end-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA) and expects to be in a position to initiate a Phase 3 program in 2025.

 

 

 

Financial Results and Corporate Updates:

 

 

About CalciMedica

---

CalciMedica is a clinical-stage biopharmaceutical company focused on developing novel CRAC channel inhibition therapies for inflammatory and immunologic diseases. CalciMedica's proprietary technology targets the inhibition of CRAC channels to modulate the immune response and protect against tissue cell injury, with the potential to provide therapeutic benefits in life-threatening inflammatory and immunologic diseases for which there are currently no approved therapies. CalciMedica's lead product candidate Auxora™ has demonstrated positive and consistent clinical results in multiple completed efficacy clinical trials. CalciMedica has announced data for a Phase 2b trial (called CARPO – NCT04681066) in patients with AP with SIRS and completed a Phase 2 trial (called CARDEA – NCT04345614) in patients with COVID pneumonia. The Company is currently conducting a Phase 2 trial (called KOURAGE – NCT06374797) in patients with AKI with associated AHRF with data expected in 2025 and continuing to support the ongoing Phase 1/2 trial (called CRSPA – NCT04195347) in patients with AIPT with data expected in 2025. CalciMedica was founded by scientists from Torrey Pines Therapeutics and the Harvard CBR Institute for Biomedical Research, and is headquartered in La Jolla, CA. For more information, please visit www.calcimedica.com.

 

Forward-Looking Statements

This communication contains forward-looking statements which include, but are not limited to, CalciMedica's expected cash runway; CalciMedica’s planned and ongoing clinical trials and the timing, design, expected patient enrollment thereof and the expected timing for the release of data from those trials, including its Phase 2 KOURAGE trial of Auxora in AKI with associated AHRF and its ongoing Phase 1/2 CRSPA trial of Auxora in pediatric patients with AIPT; plans for an end-of-Phase 2 meeting with the FDA for CARPO and to be in a position to initiate a pivotal trial in AP in 2025; the potential benefits of Auxora for the treatment of AP, AKI and AIPT; the potential for additional proceeds from the underwritten public offering if the underwriter exercises its option to purchase additional shares; and the potential of CalciMedica's proprietary technology to provide therapeutic benefits in life-threatening inflammatory and immunologic diseases. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. CalciMedica's expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to risks and uncertainties related to: the impact of fluctuations in global financial markets on CalciMedica's business and the actions it may take in response thereto; CalciMedica's ability to execute its plans and strategies; the ability to obtain and maintain regulatory approval for Auxora; results from clinical trials or preclinical studies may not be indicative of results that may be observed in the future; potential safety and other complications from Auxora; the scope, progress and expansion of developing and commercializing Auxora; the size and growth of the market therefor and the rate and degree of market acceptance thereof; economic, business, competitive, and/or regulatory factors affecting the business of CalciMedica generally; CalciMedica's ability to protect its intellectual property position; the impact of government laws and regulations; and CalciMedica’s financial position and need for additional capital. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption "Risk Factors" in CalciMedica's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, being filed with the Securities and Exchange Commission (SEC) later today, and elsewhere in CalciMedica's subsequent reports on Form 10-K, Form 10-Q or Form 8-K filed with the SEC from time to time and available at www.sec.gov. These documents can be accessed on CalciMedica's web

---

page at ir.calcimedica.com/financials-filings/sec-filings. The forward-looking statements contained herein are made as of the date hereof, and CalciMedica undertakes no obligation to update them after this date, except as required by law.

 

CalciMedica Contact:

 

Investors and Media

Argot Partners

Sarah Sutton/Kevin Murphy

calcimedica@argotpartners.com

(212) 600-1902

 

 

 

CALCIMEDICA, INC.

Condensed Consolidated Balance Sheets

(in thousands, except par value and share amounts)

(Unaudited)

 

 

		September 30, 2024				December 31, 2023
Assets
Current assets
Cash and cash equivalents		$	9,151			$	5,530
Short-term investments			5,452				5,708
Prepaid expenses and other current assets			1,083				367
Total current assets			15,686				11,605
Property and equipment, net			130				167
Other assets			396				413
Total assets		$	16,212			$	12,185
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable		$	1,536			$	1,419
Accrued clinical trial costs			1,103				1,141
Accrued expenses			1,143				1,468
Total current liabilities			3,782				4,028
Long-term liabilities
Warrant liability			3,400				—
Total liabilities			7,182				4,028
Commitments and contingencies (Note 9)
Stockholders’ equity
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at September 30, 2024 and December 31, 2023, respectively; no shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively			—				—
Common stock, $0.0001 par value; 500,000,000 shares authorized at September 30, 2024 and December 31, 2023; 10,761,917 and 5,754,505 issued and outstanding at September 30, 2024 and December 31, 2023, respectively			3				1
Additional paid-in capital			164,529				154,218
Accumulated deficit			(155,506	)			(146,064	)
Accumulated other comprehensive income			4				2
Total stockholders’ equity			9,030				8,157
Total liabilities and stockholders’ equity		$	16,212			$	12,185

 

---

 

 

 

---

CALCIMEDICA, INC.

Condensed Consolidated Statements of Operations

(in thousands, except share and per share amounts)

(Unaudited)

 

 

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Operating expenses:
Research and development		$	3,546			$	2,772			$	10,647			$	13,077
General and administrative			2,190				2,061				7,385				20,679
Total operating expenses			5,736				4,833				18,032				33,756
Loss from operations			(5,736	)			(4,833	)			(18,032	)			(33,756	)
Other income
Change in fair value of financial instruments			(100	)			—				7,790				3,168
Other income			218				214				800				377
Total other income			118				214				8,590				3,545
Net loss		$	(5,618	)		$	(4,619	)		$	(9,442	)		$	(30,211	)
Net loss per share - basic and diluted		$	(0.50	)		$	(0.82	)		$	(0.88	)		$	(7.43	)
Weighted-average number of shares outstanding used in    computing net loss per share—basic and diluted			11,134,964				5,667,343				10,674,531				4,068,526

 

 

 

---

v3.24.3

Document And Entity Information	Nov. 13, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 13, 2024
Entity Registrant Name	CalciMedica, Inc.
Entity Central Index Key	0001534133
Entity Emerging Growth Company	true
Entity File Number	001-39538
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-2120079
Entity Address, Address Line One	505 Coast Boulevard South, Suite 307
Entity Address, City or Town	La Jolla
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92037
City Area Code	(858)
Local Phone Number	952-5500
Entity Information, Former Legal or Registered Name	Not Applicable
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Ex Transition Period	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	CALC
Security Exchange Name	NONE

---