Rachel Leheny, Chief Executive Officer of CalciMedica, Inc. (NASDAQ:CALC), has acquired 20,000 shares of the company's common stock, valued at approximately $75,000. This purchase was executed at a price of $3.75 per share. Following this transaction, Leheny holds a direct ownership of 130,926 shares. Additionally, she maintains indirect ownership through various entities, including holdings by her spouse and Valence Investments SPV entities.
In other recent news, CalciMedica, a biopharmaceutical company, has made significant strides in its clinical trials and corporate governance. The company launched a public stock offering, with JonesTrading Institutional Services LLC serving as the manager. The company has also reported positive results in its Phase 2b CARPO trial, evaluating Auxora for acute pancreatitis with systemic inflammatory response syndrome. Furthermore, CalciMedica has expanded its 2023 Equity Incentive Plan by 1.5 million shares, following stockholder approval.
In addition, the company's Annual Meeting resulted in the election of two Class I directors and the ratification of Moss Adams LLP as the principal independent registered public accounting firm for the fiscal year ending December 31, 2024. Analyst firms such as Oppenheimer and Singular Research have maintained positive ratings for CalciMedica, citing the company's recent clinical advancements and the market potential of its treatments. These are among the recent developments in the company's operations.
InvestingPro Insights
Rachel Leheny's recent purchase of CalciMedica shares aligns with several key insights from InvestingPro. The company's stock has experienced a significant 72.09% return over the past year, despite a recent 8.07% decline in the last week. This volatility is reflected in an InvestingPro Tip noting that the "stock has taken a big hit over the last week."
While the CEO's investment might signal confidence, CalciMedica faces financial challenges. An InvestingPro Tip highlights that the company is "quickly burning through cash," which is corroborated by the negative EBITDA of -$21.39 million for the last twelve months as of Q2 2024. This cash burn is a critical factor for investors to consider, especially given the company's market capitalization of $37.52 million.
Despite these challenges, CalciMedica maintains a strong liquidity position. An InvestingPro Tip indicates that the company "holds more cash than debt on its balance sheet," which could provide some financial flexibility as it navigates its current unprofitable status.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics beyond those mentioned here. The platform currently lists 8 more tips for CalciMedica, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.