CalciMedica Inc Dossier
Qualitative Analysis
Business overview
CalciMedica, Inc. (Nasdaq: CALC) is a clinical-stage biopharmaceutical company headquartered in La Jolla, California. The company is a pioneer in the discovery and development of first-in-class small molecule therapies designed to inhibit store-operated calcium entry (SOCE) through calcium release-activated calcium (CRAC) channels, specifically targeting the Orai1 channel. This novel mechanism of action aims to modulate the immune response and protect against direct tissue cell injury, addressing serious, life-threatening acute and chronic inflammatory, immunologic, and cardiopulmonary diseases that currently lack approved disease-modifying treatments. CalciMedica's lead product candidate is Auxora (zegocractin), an intravenous formulation being developed for acute critical care indications.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Constructive engagement with the FDA to finalize the design of a potential pivotal program evaluating Auxora (zegocractin) in acute pancreatitis (AP). This would represent the first U.S. pivotal program for a therapeutic candidate in AP.
Expected impact: Establishes a clear regulatory pathway toward potential market approval for a serious inflammatory disease with approximately 300,000 annual hospitalizations in the U.S.
Ongoing preclinical studies to characterize the pharmacology, pharmacokinetics, and safety profile of CM5480, a proprietary oral CRAC channel inhibitor candidate targeting pulmonary vascular and right ventricular remodeling.
Expected impact: Positions CM5480 as a potential first-in-class, differentiated oral therapy for pulmonary arterial hypertension (PAH).
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Private CalciMedica merged with Graybug Vision in an all-stock transaction, with the surviving combined company renamed CalciMedica, Inc. and trading on Nasdaq under the ticker 'CALC'. The merger was accompanied by a concurrent $10.3 million private placement to support the development of CalciMedica's CRAC channel inhibitor pipeline.
Financial impact: Allowed the company to transition to a publicly traded entity and secured initial capital to fund clinical trials.
Strategic Partnerships
Integration of Telperian's AI engine into the analysis of clinical trial datasets from completed Auxora trials (such as Phase 2b CARPO in AP and Phase 2 CARDEA in COVID-19 pneumonia) to identify patient subtypes, refine endpoints, and optimize the design of the upcoming pivotal trial in AP.
Terms: Financial terms of the collaboration were not publicly disclosed.
Secured a credit facility of up to $32.5 million with Avenue Venture Opportunities Fund II, L.P. to support pipeline development. An initial tranche of $10 million was funded at close to extend the cash runway.
Terms: Up to $32.5 million total facility with a 3.5-year term. An initial tranche of $10 million was funded at close. Subsequent tranches totaling $22.5 million are no longer available due to the pause in enrollment for the KOURAGE trial.