Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
In a challenging year for Graybug Vision Inc, the biopharmaceutical company’s stock has tumbled to a 52-week low, touching down at $1.81. With a market capitalization of just $26.9 million and a concerning return on assets of -85.7%, InvestingPro analysis suggests the stock is currently undervalued. This latest price point underscores a period of significant decline for the company, which has seen its stock value shrink by 53.22% over the past year. Investors have been cautious as the company navigates through a competitive market, with this new low serving as a stark indicator of the hurdles Graybug Vision has faced and the investor sentiment surrounding its performance and future prospects. InvestingPro data reveals a concerning current ratio of 5.34 and identifies the company as "quickly burning through cash" - one of several key insights available to subscribers.
In other recent news, CalciMedica reported its fourth-quarter and full-year 2024 financial results, revealing earnings per share of ($0.33) and ($1.22), respectively. These figures were slightly below H.C. Wainwright’s estimates but better than consensus expectations. The company also announced securing a $32.5 million credit facility from Avenue Venture Opportunities Fund II, L.P., intended to support the development of its product pipeline, including its lead candidate, Auxora. CalciMedica highlighted significant progress in its clinical trials, including a Phase 2 KOURAGE trial for acute kidney injury (AKI) and preparations for a Phase 3 study in acute pancreatitis. Recent data from the CARDEA trial showed a notable reduction in mortality for AKI patients treated with Auxora, underscoring the drug’s potential efficacy. Additionally, CalciMedica appointed Dr. Alan Glicklich to its Board of Directors, bringing extensive biotech industry experience to the company. The board changes followed the resignation of Eric Bjerkholt, with no disagreements cited regarding company practices. H.C. Wainwright maintained its Buy rating and $16 price target for CalciMedica, reflecting continued confidence in the company’s developments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.