Monitor for upcoming share issuances under the ATM program, which could lead to significant dilution given the company's low market cap and cash needs. The going concern warning suggests high financial risk, making any equity raise likely dilutive.
Price Chart
Executive Summary
CalciMedica filed an S-3 shelf registration, signaling potential future share issuance. The company has a market cap of $7M and reported a cash balance of $5.47M as of September 30, 2025, with an accumulated deficit of $178.6M. It has an active ATM offering with $2.6M remaining, and its financials show ongoing losses and substantial doubt about its ability to continue as a going concern.
Key Financial Metrics
Key Facts
- Company has $5.47M in cash and $14.1M in cash equivalents and short-term investments as of September 30, 2025
- Accumulated deficit of $178.6M and net loss of $18.8M for the nine months ended September 30, 2025
- Substantial doubt about the company's ability to continue as a going concern due to insufficient cash to fund operations for the next 12 months
- Active ATM offering with $2.6M remaining under the shelf registration
- Promissory note of $8.9M and warrant liability of $2.6M on the balance sheet
- Market cap is $7M as of the filing date
Financial Impact
Potential dilution from future share issuance under the shelf registration, with up to $2.6M available under the ATM facility. The company's cash runway is limited, increasing the likelihood of near-term dilutive financing.
Risk Factors
- Substantial doubt about the company's ability to continue as a going concern
- Potential for significant shareholder dilution from future offerings
- High warrant liability ($2.6M) that could impact future equity raises
- Ongoing operating losses and negative cash flow from operations
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CONTEXT: 10-Q (2025-11-12) | 0001193125-25-277617 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 11d ago | 8-K | $1.02 | awaiting T+20 | — | $1.31 (−28.43%) |
Sep 30, 2026 27d ago | 8-K | $1.65 | awaiting T+20 | — | $1.31 (+20.61%) |
Sep 30, 2026 27d ago | 424B5 | $1.65 | awaiting T+20 | — | $1.31 (+20.61%) |
Sep 2, 2026 7w ago | 8-K | $2.10 $1.65 | ▲ +21.43% | ▲ +21.28% | $1.31 (+37.62%) |
Aug 11, 2026 11w ago | 8-K | $0.6577 $0.4590 | ▲ +30.21% | ▲ +29.15% | $1.31 (−99.18%) |
Aug 11, 2026 11w ago | Press Release | $0.6577 $0.4590 | ▼ −30.21% | ▼ −29.15% | $1.31 (+99.18%) |
Jul 10, 2026 15w ago | 3 | $0.8178 $0.6590 | ▼ −19.42% | ▼ −22.60% | $1.31 (+60.19%) |
Jun 24, 2026 17w ago | 8-K | $0.5973 $0.7159 | ▼ −19.86% | ▼ −19.18% | $1.31 (−119.32%) |
May 12, 2026 24w ago | 8-K | $0.6300 $0.9320 | ▲ +47.94% | ▲ +49.66% | $1.31 (+107.94%) |
Mar 12, 2026 32w ago | EFFECT | $0.7260 $0.6180 | ▼ −14.88% | ▼ −16.85% | $1.31 (+80.44%) |
US Market Status
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