CalciMedica, Inc. reported its financial results for the third quarter ended September 30, 2024, alongside updates on its clinical and corporate developments. The company posted a net loss of $5.6 million for the quarter, compared to a net loss of $4.6 million for the same period in 2023. Research and development expenses increased to $3.5 million from $2.8 million year-over-year, reflecting increased clinical trial activities.
As of September 30, 2024, CalciMedica held $14.6 million in cash, cash equivalents, and short-term investments. Following a public offering in October, the company expects its cash position to fund current operations into the first half of 2026. This extended cash runway is crucial for supporting ongoing development efforts.
The company also provided positive clinical updates, including additional data and a win ratio analysis from its Phase 2b CARPO trial of Auxora in acute pancreatitis (AP). CalciMedica expects to be in a position to initiate a Phase 3 program for Auxora in AP in 2025. Enrollment is ongoing in the Phase 2 KOURAGE trial for acute kidney injury (AKI) and the Phase 2 portion of the CRSPA trial for asparaginase-induced pancreatic toxicity (AIPT), with data from both trials anticipated in 2025.
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