CalciMedica, Inc. (NASDAQ:CALC) recently witnessed a substantial acquisition of its common stock by Sanderling Ventures. On November 1, Sanderling Venture Partners VI Co Investment Fund LP and related entities acquired a total of 87,744 shares, amounting to approximately $329,040. The shares were purchased at a price of $3.75 each.
This acquisition by Sanderling Ventures, a significant stakeholder in CalciMedica, highlights continued investor interest in the pharmaceutical company. The total shares now owned by Sanderling Ventures and its affiliates post-transaction include 814,300 shares held directly and additional shares through indirect ownership by various Sanderling entities.
The transaction reflects Sanderling's ongoing commitment to CalciMedica, which specializes in pharmaceutical preparations. Investors will be observing how this increased stake might influence the company's strategic direction in the coming months.
In other recent news, CalciMedica, a biopharmaceutical company, has seen significant developments in its clinical trials and corporate governance. The company recently released late-breaking data from its Phase 2b CARPO trial of Auxora for acute pancreatitis with systemic inflammatory response syndrome (SIRS), which demonstrated positive results. H.C. Wainwright, an analyst firm, maintained a Buy rating on CalciMedica's stock but reduced the price target to $16.00 from the previous $20.00 following this data release.
CalciMedica also initiated a public stock offering, with JonesTrading Institutional Services LLC serving as the sole book-running manager. The offering is being conducted based on a shelf registration statement filed with the Securities and Exchange Commission. Additionally, the company expanded its 2023 Equity Incentive Plan by 1.5 million shares, following stockholder approval.
In the realm of clinical advancements, CalciMedica reported positive results from its Phase 2b CARPO trial evaluating Auxora for acute pancreatitis with SIRS. The company plans to discuss the Phase 3 trial design for Auxora with the FDA, focusing on patients with accompanying SIRS. Analyst firms such as Oppenheimer and Singular Research have maintained positive ratings for CalciMedica, citing the company's recent clinical advancements and the market potential of its treatments. These are the recent developments in the company's operations.
InvestingPro Insights
The recent acquisition by Sanderling Ventures comes at a time when CalciMedica (NASDAQ:CALC) is facing some financial challenges, as revealed by InvestingPro data. The company's market capitalization stands at $47.15 million, reflecting its current valuation in the market.
InvestingPro Tips indicate that CalciMedica is "quickly burning through cash" and is "not profitable over the last twelve months." These insights align with the company's financial metrics, including a negative EBITDA of -$21.39 million for the last twelve months as of Q2 2024. The company's operating income and EBIT for the same period are both at -$21.45 million, further underlining its current profitability challenges.
Despite these financial hurdles, CalciMedica "holds more cash than debt on its balance sheet," which could provide some financial flexibility as it navigates its current situation. This cash position might be particularly relevant given Sanderling Ventures' increased stake in the company.
It's worth noting that CalciMedica's stock has experienced significant volatility recently. InvestingPro data shows a 1-week price total return of -10.94% and a 1-month return of -19.7%, indicating short-term downward pressure on the stock price. However, the YTD price total return stands at 22.38%, suggesting a more positive longer-term trend.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 8 more InvestingPro Tips available for CalciMedica, providing a deeper understanding of the company's financial health and market position.
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