CalciMedica, Inc. announced its financial results for the first quarter ended March 31, 2025, along with updates on its clinical and corporate developments. The company reported a net loss of $5.0 million for Q1 2025, compared to a net income of $0.1 million for the same period in 2024. The net income in Q1 2024 was primarily due to a $5.6 million gain from fair value adjustments to warrant liabilities, indicating that the operational loss was consistent.
Operating expenses for the first quarter of 2025 totaled $6.5 million, an increase from $5.8 million in Q1 2024. Research and development expenses rose by $1.3 million, or 43%, driven by increased preclinical and clinical trial activities and chemistry, manufacturing, and control costs for clinical trial drug supply. General and administrative expenses decreased by $0.5 million, or 19%, due to lower transaction costs from the prior year's private placement.
As of March 31, 2025, CalciMedica held $24.6 million in cash, cash equivalents, and short-term investments. Management estimates that these resources are sufficient to fund operations into the middle of 2026, maintaining a stable cash runway. Enrollment continues in the Phase 2 KOURAGE trial for acute kidney injury (AKI) with respiratory failure, with data expected around the end of 2025. The company also plans an end-of-Phase 2 meeting with the FDA for its acute pancreatitis program around mid-2025, aiming to initiate a pivotal trial around the end of 2025.
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