Home / Going-concern warnings / CalciMedica, Inc.
Filed 2025-08-12 路 Form 10-Q 路 Accession 0000950170-25-107334 nano
Price before filing: $13.8 (2025-08-11 close, split/dividend-adjusted)
Market cap at flag: $37.2M (2025-08-12) 路 Latest: $3.6M (2026-10-16)
| Window | CALC | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +24.3% | +3.4% | +20.9% | 2025-09-11 |
| 90 days | +10.9% | +7.5% | +3.4% | 2025-11-10 |
| 180 days | -76.4% | +9.7% | -86.1% | 2026-02-09 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $4K (1 sale); 5 insiders bought $107K (16 purchases)
30 days after: 2 insiders bought $112K (10 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-05-30 | Bardin Stephen Chief Financial Officer | Purchase | 1,000 | $1.69 | $2K | no | Form 4 |
| 2025-06-05 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 5,100 | $1.70 | $9K | no | Form 4 |
| 2025-06-06 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 5,000 | $1.77 | $9K | no | Form 4 |
| 2025-06-11 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 5,000 | $1.85 | $9K | no | Form 4 |
| 2025-06-26 | Bardin Stephen Chief Financial Officer | Purchase | 2,000 | $1.50 | $3K | no | Form 4 |
| 2025-06-26 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 4,500 | $1.44 | $6K | no | Form 4 |
| 2025-07-01 | Stauderman Kenneth A. Chief Scientific Officer | Purchase | 1,000 | $1.85 | $2K | no | Form 4 |
| 2025-07-09 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 5,000 | $1.60 | $8K | no | Form 4 |
| 2025-07-14 | Leheny A. Rachel CHIEF EXECUTIVE OFFICER, Director, 10% owner | Purchase | 2,500 | $2.47 | $6K | no | Form 4 |
| 2025-07-14 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 6,500 | $2.43 | $16K | no | Form 4 |
| 2025-07-18 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 2,000 | $2.88 | $6K | no | Form 4 |
| 2025-07-18 | WILSON ROBERT N Director | Purchase | 4,500 | $2.87 | $13K | no | Form 4 |
| 2025-07-21 | Leheny A. Rachel CHIEF EXECUTIVE OFFICER, Director, 10% owner | Purchase | 1,000 | $3.40 | $3K | no | Form 4 |
| 2025-07-21 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 1,500 | $3.37 | $5K | no | Form 4 |
| 2025-07-22 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 1,500 | $3.77 | $6K | no | Form 4 |
| 2025-07-25 | Stauderman Kenneth A. Chief Scientific Officer | Sale | 1,000 | $3.65 | $4K | no | Form 4 |
| 2025-07-28 | Stauderman Kenneth A. Chief Scientific Officer | Purchase | 1,000 | $3.96 | $4K | no | Form 4 |
| 2025-08-12: red flag filed | |||||||
| 2025-08-14 | Hebbar Sudarshan Chief Medical Officer | Purchase | 1,584 | $2.58 | $4K | no | Form 4 |
| 2025-08-15 | Hebbar Sudarshan Chief Medical Officer | Purchase | 4,392 | $2.79 | $12K | no | Form 4 |
| 2025-08-15 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 5,076 | $2.90 | $15K | no | Form 4 |
| 2025-08-19 | Hebbar Sudarshan Chief Medical Officer | Purchase | 9,563 | $2.82 | $27K | no | Form 4 |
| 2025-08-19 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 1,000 | $2.79 | $3K | no | Form 4 |
| 2025-08-20 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 2,000 | $2.72 | $5K | no | Form 4 |
| 2025-08-21 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 3,508 | $2.79 | $10K | no | Form 4 |
| 2025-08-28 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 9,200 | $2.86 | $26K | no | Form 4 |
Showing 25 of 27 transactions.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-05-14 to 2025-09-11. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As a result, there is substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-06-30)
Why this score: quarterly (unaudited) disclosure; also within 90 days: Auditor change
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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