CalciMedica Inc. Common Stock (CALC)

FairStock Score: 13/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am looking at CalciMedica through a Graham-and-Buffett lens. It is a clinical-stage biopharmaceutical company with no reported revenue in any filed period. Its lead asset, Auxora, may hold promise, but promise is not earnings. In fiscal 2023, the year ended 2023-12-31, net income was -$34.4M; in fiscal 2024, the year ended 2024-12-31, net income was -$13.7M; and in fiscal 2025, the year ended 2025-12-31, net income was -$29.6M. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was $5.0M, but in fiscal Q2 2026, the quarter ended 2026-06-30, it reversed to -$7.7M; revenue is n/a in both. Trailing free cash flow is -$19.1M, and the FairStock FCF yield calculation is -203.2% against a $9.4M market cap at the 2026-10-13 close, so cash burn exceeds the entire market value. FairStock shows debt-to-equity of 1.67, ROE of -365.70%, ROCE of -63.58%, a Piotroski F-Score of 2/9, and an Altman Z-Score of -12.40. The Peter Lynch category is 'none' because the company lost money in each of the last four years. Valuation gives little comfort: at the 2026-10-13 close, FairStock's P/E is -0.16, P/B is 1.24, and the FairStock Score is 13/100. The stock trades at $1.12, within a 52-week range of $0.46 to $7.20, so Mr. Market is pricing a wide range of outcomes. A durable moat is not visible in the financials; future value depends on clinical progress with Auxora not established here. This is not the sort of predictable, cash-generating business I prefer. The margin of safety is difficult to calculate when there are no revenues or profits, only cash consumption. I would need evidence of trial success, financing strength, and eventual commercial economics before calling it an investment rather than a speculative option.

In plain English: CalciMedica is a small clinical-stage biotech with 15 employees that is developing Auxora for inflammatory and immune-related illnesses. It has no reported revenue and has mostly posted losses, including a $29.6 million loss in fiscal 2025, the year ended 2025-12-31. At $1.12 on 2026-10-13, the market value is only $9.4 million, but the company is burning cash, so the price looks speculative rather than supported by current business numbers.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer