CalciMedica Reports Increased Net Loss of $10.998 Million for First Half of 2025

CalciMedica, Inc. reported a net loss of $10.998 million for the six months ended June 30, 2025, a significant increase from the $3.824 million loss recorded during the same period in 2024. The company's total operating expenses rose to $13.118 million, compared to $12.296 million in the prior year, driven primarily by increased research and development costs, which grew by 17% to $8.276 million. General and administrative expenses decreased by 7% to $4.842 million, reflecting a reduction in professional services and consulting costs. The net loss per share for the first half of 2025 was $0.76, compared to $0.37 in the previous year.

In terms of financial position, CalciMedica's total assets decreased to $19.080 million as of June 30, 2025, down from $19.794 million at the end of 2024. The company’s cash and cash equivalents also fell to $5.918 million from $7.935 million, while short-term investments increased to $12.039 million from $10.734 million. The accumulated deficit reached $170.762 million, reflecting the ongoing challenges in achieving profitability. The company’s liabilities surged to $12.977 million, primarily due to the issuance of a promissory note amounting to $8.5 million.

Strategically, CalciMedica has been focused on advancing its lead product candidate, Auxora, which is currently undergoing multiple Phase 2 clinical trials. The company has also engaged in a significant financing effort, including a $10 million loan agreement with Avenue Venture Opportunities Fund II, L.P., which is intended to support ongoing clinical trials and operational needs. Additionally, CalciMedica has utilized its at-the-market offering facility, raising approximately $1.3 million from the sale of common stock as of June 30, 2025.

Operationally, the company has seen fluctuations in its research and development expenses, with a notable increase in preclinical and clinical trial-related activities. The total number of shares outstanding increased to 14,995,404 as of June 30, 2025, reflecting the issuance of new shares through various financing activities. The company continues to face substantial uncertainty regarding its ability to raise additional capital, which is critical for funding its clinical development programs and maintaining operations.

Looking ahead, CalciMedica anticipates continued net losses as it invests in the development of its product candidates. The company expects its cash reserves may not be sufficient to fund operations for the next year, raising concerns about its ability to continue as a going concern. Management is actively seeking additional funding through public and private financings, collaborations, and licensing agreements to support its clinical programs and operational activities.