Business
CalciMedica Reports First Quarter 2023 Financial Results and Provides Clinical & Corporate Updates
LA JOLLA, Calif., May 15, 2023 (GLOBE NEWSWIRE) -- CalciMedica Inc. (“CalciMedica”) (OTCQB: CALC), a clinical-stage biopharmaceutical company focused on
About this update from Calcimedica, Inc.
[{"type":"text","content":"LA JOLLA, Calif., May 15, 2023 (GLOBE NEWSWIRE) -- CalciMedica Inc. (“CalciMedica”) (OTCQB: CALC), a clinical-stage biopharmaceutical company focused on developing therapies for life-threatening inflammatory diseases with high unmet need, today reported financial results for the first quarter ended March 31, 2023. “We ended our first quarter as a public company in a strong position, with a cash runway that will last into the second half of 2024,” said Rachel Leheny, Ph.D., Chief Executive Officer of CalciMedica. “We are pleased to have entered the second quarter of 2023 with forward momentum, continuing the work towards our near-term clinical milestones with Auxora in acute pancreatitis and asparaginase-associated pancreatitis for critically ill patient populations whose needs are currently unmet.” Financial Results for the Three Months Ended March 31, 2023: Cash, Cash Equivalents and Marketable Securities: As of March 31, 2023, CalciMedica had $34.2 million in cash, cash equivalents and short-term investments.Total Operating Expenses: Total operating expenses were $22.3 million, which included $16.2 million of one-time charges related to accelerated vesting and severance for employees of Graybug Vision, Inc. (Graybug) at the time of the merger with Graybug.Net Loss: Net loss was $19.3 million, or $23.43 per share (basic and diluted), for the three months ended March 31, 2023. Clinical Updates and Anticipated Milestones: In April, 2023, CalciMedica initiated the ex-US expansion of its Phase 2b clinical trial in acute pancreatitis patients (CARPO) in India with an investigator meeting and expects to begin enrolling patients in India in the second quarter of 2023.On May 9, 2023, the Independent Data Monitoring Committee for CARPO met to review data from the first 90 patients enrolled in the trial and determined that the trial should continue without modifications.CalciMedica anticipates results from the first cohort of the investigator-sponsored Phase 1/2 CRSPA study of lead candidate Auxora in patients with Asparaginase-Associated Pancreatitis (AAP) and trial expansion in the second half of 2023.The Company also expects to complete enrollment in the ongoing Phase 2b CARPO clinical trial of Auxora in Acute Pancreatitis (AP) patients with systemic inflammatory response syndrome (SIRS) by year-end 2023, with topline results expected...