CalciMedica, Inc. reported its financial results for the second quarter ended June 30, 2025, along with updates on its clinical and corporate developments. The company posted a net loss of $6.0 million for Q2 2025, compared to a net loss of $4.0 million for the same period in 2024. Research and development expenses decreased slightly to $4.1 million from $4.2 million year-over-year, primarily due to a decrease in CMC costs offset by an increase in clinical activities.
As of June 30, 2025, CalciMedica held $18.0 million in cash, cash equivalents, and short-term investments. The company reiterated its expectation that its cash position is sufficient to fund current operating plans into the middle of 2026. This financial stability supports ongoing clinical programs and operational needs.
A key update for investors is the revised timeline for the Phase 2 KOURAGE trial of Auxora in acute kidney injury (AKI) with respiratory failure, with data now expected in early 2026, a delay from the previously anticipated readout around the end of 2025. However, the company reported productive initial meetings with the FDA regarding its acute pancreatitis (AP) program, with alignment on a pivotal trial anticipated around the end of 2025, indicating continued progress in this indication.
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