aibioCalciMedica files to sell up to $25,000,000 of stock through at-the-market program
Tickers CALC
CalciMedica filed a prospectus supplement on September 30, 2026 for up to $25,000,000 of stock, sold through H.C. Wainwright & Co., LLC as sales agent for a 3.0% commission. The company has stopped one Phase 2 trial of its lead drug and now plans a Phase 2b step first.
Key facts
- Company
- CalciMedica, Inc. (NASDAQ: CALC)
- News type
- Financings
- Primary source
- CalciMedica, Inc. 424B5 (2026-09-30)
The program
CalciMedica, Inc. (Nasdaq: CALC) filed the supplement on September 30, 2026 under a shelf registration statement on Form S-3 that was filed March 3, 2026 and declared effective March 11, 2026. The shelf covers up to $125,000,000 of securities in total, and the $25,000,000 of common stock is included in that amount.
Shares are sold at prevailing market prices under an offering agreement with Wainwright dated August 11, 2023. Wainwright is not required to sell any specific number or dollar amount of shares. The company pays it a fixed commission of 3.0% of the gross sales price of each share sold. There is no escrow or trust arrangement for the funds, and Wainwright may be deemed an underwriter under the Securities Act.
The last reported sale price was $1.695 on September 28, 2026. The company effected a 1-for-5 reverse stock split on August 28, 2026, and the supplement gives retroactive effect to it. It reports 6,147,246 shares outstanding at June 30, 2026. If 14,749,262 shares were sold at $1.695, the supplement says up to 20,896,508 shares would be outstanding after the offering.
Who is named
H.C. Wainwright & Co., LLC is the only sales agent named. The supplement describes past banking and other services Wainwright provided in the ordinary course for customary fees, and says there is no present arrangement for further services.
Cooley LLP of San Diego, California passes on the validity of the shares for the company. Ellenoff Grossman & Schole LLP is named as counsel to Wainwright on this offering. Baker Tilly US, LLP audited the 2025 and 2024 financial statements, and its report includes an explanatory paragraph on going concern uncertainty.
The losses and the trial record
CalciMedica is a clinical-stage company in La Jolla, California. Its lead product candidate is Auxora, an intravenous CRAC channel inhibitor containing zegocractin. Its annual report on Form 10-K, filed March 3, 2026, gives a 2025 net loss of $29.6 million, against $13.7 million for 2024. Research and development expense was $15.2 million in 2025 and $14.5 million in 2024. Cash used in operations was $21.2 million in 2025 and $21.1 million in 2024.
Cash and cash equivalents were $18.6 million at June 30, 2026, according to the company's quarterly report on Form 10-Q. Net tangible book value was approximately $5.5 million, or $0.90 per share, at the same date. The supplement says that at the assumed price the dilution to new investors would be $0.285 per share.
In January 2026 the company discontinued the KOURAGE Phase 2 trial of Auxora in acute kidney injury with acute hypoxemic respiratory failure. The independent data monitoring committee had recommended the step over a safety concern, a mortality imbalance. The company says the committee found no evidence of drug-related toxicity, and that its own review with external experts reached the same conclusion. It also says imbalances in baseline disease severity may have contributed.
The annual report said the company had engaged the FDA on the design of a potential pivotal program in acute pancreatitis. The supplement now says that after FDA feedback in July 2026, the company is preparing a potential Phase 2b trial of Auxora in that indication, intended to inform the design of a potential Phase 3 program. The supplement gives no size or start date for that trial.
What the offering leaves open
The company says it will use the net proceeds for general corporate purposes, which may include research and development, clinical trial expenses, capital expenditures and working capital. It also says it may use some proceeds to in-license or acquire businesses or technologies, although it has no current plans, commitments or agreements for any acquisition.
The $25,000,000 is a ceiling, not a commitment, and the supplement says there can be no assurance that Wainwright will sell any shares. The filing does not say how long the cash of $18.6 million at June 30, 2026 would last at the 2025 spending rate.