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LA JOLLA, Calif. - CalciMedica Inc. (NASDAQ:CALC), a clinical-stage biopharmaceutical company with a market capitalization of $29.66 million, shared new data from its CARDEA trial at the 30th International Acute Kidney Injury and Continuous Renal Replacement Therapy Conference, highlighting a significant reduction in mortality for acute kidney injury (AKI) patients treated with its drug Auxora. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 4.15, though it faces challenges with rapid cash burn. The presentation, delivered on Monday, included a post-hoc analysis showing a 62.7% relative decrease in mortality at day 30, a trend which continued through day 60, in a subset of patients with AKI.
The study focused on 38 patients with AKI and respiratory failure, a group that aligns with the target population for CalciMedica’s ongoing Phase 2 KOURAGE trial. Patients treated with Auxora experienced a 29.3% absolute reduction in mortality compared to the placebo group. This improvement surpassed the results for the entire trial population, where a 56.3% relative reduction in mortality was seen.
Dr. Sudarshan Hebbar, Chief Medical (TASE:BLWV) Officer at CalciMedica, emphasized the biological rationale for CRAC channel inhibition as a potential therapeutic mechanism in AKI. Preclinical studies have shown immunomodulatory and tissue-protective effects, while clinical trial biomarker studies indicated changes in cardiorenal biomarkers linked to improved outcomes.
CalciMedica is advancing its research with ongoing trials, including the Phase 2 KOURAGE study in AKI patients with acute hypoxemic respiratory failure, expected to conclude in 2025. The company also continues to support a Phase 1/2 trial in pediatric patients with asparaginase-induced pancreatic toxicity, with results anticipated in 2025.
The data presented are based on a press release statement and highlight CalciMedica’s commitment to developing treatments for life-threatening inflammatory and immunologic diseases. These forward-looking statements are subject to uncertainties and potential differences in actual outcomes. Trading near its 52-week low of $2.05, the stock has caught analysts’ attention, with price targets ranging from $13 to $20. InvestingPro subscribers can access additional insights, including 7 more key investment tips and comprehensive financial analysis. The company’s progress and trial results are closely watched by the medical community and investors, as they may offer new solutions for conditions with limited treatment options.
In other recent news, CalciMedica has announced significant changes to its board of directors. Dr. Alan Glicklich has been appointed as a new director, effective immediately following the resignation of Eric Bjerkholt. Dr. Glicklich, who brings over two decades of experience in the biotech industry, is expected to contribute to CalciMedica’s clinical development strategies. His appointment aligns with the company’s ongoing clinical trials for their lead drug candidate, Auxora, which is in Phase 3 trials for acute pancreatitis and Phase 2 trials for acute kidney injury. Results from these trials are anticipated later this year.
Dr. Glicklich’s compensation includes an annual cash retainer and stock options, reflecting the company’s standard non-employee director compensation policy. CalciMedica’s CEO, Rachel Leheny, has expressed confidence in Dr. Glicklich’s ability to guide the company through its next phase of clinical trials. The company has emphasized that Bjerkholt’s resignation was not due to any disagreements regarding company operations. These developments are expected to be closely watched by investors as CalciMedica progresses with its clinical trials and leadership changes.
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