Financial Performance - CalciMedica reported a net loss of $13.7 million for the year ended December 31, 2024, a significant improvement from a net loss of $34.4 million in 2023[11]. - Total operating expenses decreased to $24,204 million in 2024 from $38,075 million in 2023, a reduction of approximately 36.4%[18]. - Net loss improved to $13,700 million in 2024 compared to a net loss of $34,357 million in 2023, representing a reduction of about 60.1%[18]. - Net loss per share decreased to $1.22 in 2024 from $7.66 in 2023, indicating a significant improvement in per-share performance[18]. - Overall, the financial performance indicates a positive trend with significant reductions in losses and operating expenses year-over-year[18]. Expenses - Research and development expenses decreased to $14.5 million in 2024 from $15.9 million in 2023, primarily due to a reduction in personnel expenses related to a merger[11]. - General and administrative expenses were $9.7 million in 2024, down from $22.2 million in 2023, reflecting a decrease in personnel expenses driven by one-time charges from the merger[11]. - Research and development expenses were $14,478 million in 2024, down from $15,859 million in 2023, reflecting a decrease of about 8.7%[18]. - General and administrative expenses significantly decreased to $9,726 million in 2024 from $22,216 million in 2023, a decline of approximately 56.3%[18]. - The company reported a loss from operations of $24,204 million in 2024, down from $38,075 million in 2023, a decrease of about 36.4%[18]. Assets and Funding - Cash, cash equivalents, and short-term investments totaled $18.7 million as of December 31, 2024, expected to fund operations into mid-2026[11]. - The total assets increased to $19.8 million as of December 31, 2024, compared to $12.2 million in 2023[16]. - The company secured a credit facility of up to $32.5 million to support its operations, with an initial tranche of $10 million already funded[10]. Clinical Trials and Development - Enrollment is ongoing in the Phase 2 KOURAGE trial, targeting 150 patients with severe acute kidney injury and associated respiratory failure, with data expected by the end of 2025[4]. - A post-hoc analysis from the Phase 2 CARDEA trial indicated a 62.7% relative reduction in mortality at day 30 for patients treated with Auxora compared to placebo[3]. - CalciMedica plans to hold an end-of-Phase 2 meeting with the FDA in mid-2025, aiming to initiate a Phase 3 program in acute pancreatitis by the end of 2025[8]. Leadership Changes - The company appointed Stephen Bardin as Chief Financial Officer in November 2024, enhancing its leadership team[9]. Other Income - Total other income rose to $10,504 million in 2024, up from $3,718 million in 2023, marking an increase of about 182.5%[18]. - Change in fair value of financial instruments increased to $9,490 million in 2024 from $3,168 million in 2023, a growth of approximately 199.2%[18]. Shareholder Information - Weighted-average number of shares outstanding increased to 11,245,915 in 2024 from 4,486,258 in 2023, reflecting an increase of approximately 150.1%[18].
CalciMedica(CALC) - 2024 Q4 - Annual Results