CalciMedica Announces Private Placement Of Up To ~$55M, Includes Initial Upfront Funding Of $20.4M And Up To An Additional ~$34.2M Upon Exercise Of Accompanying Warrants
Portfolio Pulse from Benzinga Newsdesk
CalciMedica, Inc. (NASDAQ:CALC) announced a private placement to raise up to approximately $55 million, including $20.4 million in initial funding and potential additional funding of approximately $34.2 million through warrant exercises. The proceeds will fund Phase 2 clinical trials for Auxora in acute pancreatitis (AP) and acute kidney injury (AKI), with the potential to cover subsequent pivotal trials. The private placement includes participation from new and existing healthcare investors and is expected to close in two stages, with the first on January 23, 2024, and the second on February 5, 2024.
January 22, 2024 | 1:02 pm
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POSITIVE IMPACT
CalciMedica's private placement aims to raise up to $55 million, with $20.4 million upfront to fund clinical trials for Auxora in AP and AKI. The funding could support pivotal trials and includes notable healthcare investors.
The announcement of a significant private placement is typically viewed positively as it provides the necessary capital for ongoing and planned clinical trials, which are critical for a biopharmaceutical company's growth. The involvement of reputable healthcare investors further adds credibility to the company's prospects. This news is likely to be seen as a positive development by investors, potentially leading to a short-term increase in stock price.
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