Home / Going-concern warnings / CalciMedica, Inc.
Filed 2025-11-12 路 Form 10-Q 路 Accession 0001193125-25-277617 micro
Price before filing: $16.05 (2025-11-11 close, split/dividend-adjusted)
Market cap at flag: $50.1M (2025-11-12) 路 Latest: $3.6M (2026-10-16)
| Window | CALC | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +34.9% | -0.2% | +35.1% | 2025-12-12 |
| 90 days | -77.1% | +1.6% | -78.7% | 2026-02-10 |
| 180 days | -81.6% | +8.9% | -90.4% | 2026-05-11 |
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: 2 insiders bought $144K (13 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 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 |
| 2025-08-29 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 800 | $2.74 | $2K | no | Form 4 |
| 2025-09-09 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 2,343 | $3.15 | $7K | no | Form 4 |
| 2025-09-12 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 5,000 | $3.12 | $16K | no | Form 4 |
| 2025-09-15 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 3,400 | $2.68 | $9K | no | Form 4 |
| 2025-09-18 | Roberts Eric W CHIEF BUSINESS OFFICER, Director, 10% owner | Purchase | 2,500 | $3.07 | $8K | no | Form 4 |
| 2025-11-12: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-14 to 2025-12-12. 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 2025-09-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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