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Graybug Vision Inc’s stock has tumbled to a 52-week low, touching down at $1.95. With a market capitalization of just $26 million, the micro-cap company currently shows a WEAK financial health score according to InvestingPro analysis. This latest price level reflects a stark downturn for the biopharmaceutical company, which has seen its shares plummet by nearly half, with a 1-year change showing a significant decline of 49.89%. While the company maintains a healthy current ratio of 4.15 and holds more cash than debt, analyst targets suggest significant upside potential, ranging from $13 to $20 per share. Investors are grappling with the company’s performance and market position, as the stock struggles to regain momentum amidst a challenging period for the sector. The 52-week low serves as a critical indicator of the current investor sentiment and the hurdles Graybug Vision faces in the market. (InvestingPro subscribers can access 7 additional key insights about Graybug Vision’s financial position.)
In other recent news, CalciMedica Inc. has reported promising results from its CARDEA trial, where its drug Auxora demonstrated a significant reduction in mortality among acute kidney injury (AKI) patients. The trial revealed a 62.7% relative decrease in mortality at day 30, which persisted through day 60, particularly in patients with AKI and respiratory failure. Additionally, CalciMedica is advancing its Phase 2 KOURAGE study and a Phase 1/2 trial in pediatric patients, with results expected in 2025. In corporate developments, CalciMedica announced the appointment of Dr. Alan Glicklich to its Board of Directors, effective soon. Dr. Glicklich, with extensive experience in the biotech industry, is expected to enhance the company’s clinical development strategies. His appointment follows the resignation of Eric Bjerkholt from the board and as Chair of the audit committee. Dr. Glicklich will receive an annual cash retainer and stock options as part of his compensation. These recent developments reflect CalciMedica’s ongoing efforts in clinical trials and strategic leadership changes.
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