CALC CalciMedica, Inc. - Common Stock
NASDAQ · Pharmaceuticals · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 11, 2026
$1.60
· of 52w range
· above low
· to high
$1.5852w low
$36.0052w high
Market Cap (MRQ)
$49M
P/E
-3.3
EPS
$-1.97
your badges
52W Range
$2–$36
Analyst Rating
BUY
Price Target
$50
P/E
-3.3
ROE
·
Net Profit Margin
·
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CALC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.60
Market Cap (MRQ)
$49M
P/E
-3.3
EPS
$-1.97
52W Range
$2–$36
CALC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Aug. 31, 2026 | 1-for-5 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
EPS$-1.972021-12-31 → 2025-12-31
Free Cash Flow·2020-12-31 → 2024-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | CALC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -3.35Y avg ≈-2.2 | ≈-2.2 | · | · | |
| P/B (MRQ) | 8.9 | · | 2.1 | Overvalued | |
| Price / FCF (TTM) | -2.6 | · | · | · | |
| Price / Cash Flow (TTM) | -2.6 | · | · | · | |
| Price / Tangible Book | 3.3 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | CALC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 5.6 | · | 1.4 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | CALC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -29.7% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
2.9%
Next Report
Nov 10, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 18, 2026 | $-2.25 | $-1.45 | -54.8% |
| March 31, 2026 | May 18, 2026 | $1.50 | $-1.43 | 205.0% |
| Dec. 31, 2025 | $-3.65 | $-2.10 | -73.5% | |
| Sept. 30, 2025 | $-2.60 | $-2.10 | -23.6% | |
| June 30, 2025 | $-0.40 | $-0.36 | -12.0% | |
| March 31, 2025 | $-0.36 | $-0.31 | -15.1% | |
| Dec. 31, 2024 | $-0.38 | $-0.36 | -5.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| R&D Expense | $15M | $14M | $16M | $8M | $19M | $21M | $31M | |
| SG&A Expense | $8M | $10M | $22M | $6M | $17M | $9M | $7M | |
| Operating Expenses | $23M | $24M | $38M | $14M | $36M | $30M | $38M | |
| Operating Income | $-23M | $-24M | $-38M | $-14M | $-36M | $-30M | $-38M | |
| Interest Income | · | · | · | $575.0K | $126.0K | $143.0K | $393.0K | |
| Other Non-op | $268.0K | $0 | $550.0K | $-28.0K | · | · | · | |
| Pretax Income | $-30M | $-14M | · | · | · | · | · | |
| Income Tax | $0 | $0 | $1.0K | $1.0K | · | · | · | |
| Net Income | $-30M | $-14M | $-34M | $-8M | $-36M | $-28M | $-37M | |
| EPS (Basic) | $-1.97 | $-1.22 | $-7.66 | $-111.16 | $-1.69 | · | · | |
| EPS (Diluted) | $-1.97 | $-1.22 | $-7.66 | $-111.16 | $-1.69 | · | · | |
| Shares (Basic) | 15,011,321 | 11,245,915 | 4,486,258 | 82,245 | 21,199,291 | · | · | |
| Shares (Diluted) | 15,011,321 | 11,245,915 | 4,486,258 | 82,245 | 21,199,291 | · | · | |
| EBITDA | · | $-24M | · | · | $-36M | $-30M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $12M | $8M | $6M | $1M | $13M | $33M | $16M | |
| Short-term Investments | $1M | $11M | $6M | $0 | $50M | $62M | $20M | |
| Prepaid Expense | $259.0K | $248.0K | $296.0K | $254.0K | $3M | $4M | $315.0K | |
| Other Current Assets | · | · | · | · | $1M | $1M | · | |
| Current Assets | $14M | $20M | $12M | $2M | $67M | $99M | $36M | |
| PP&E (Net) | $50.0K | $119.0K | $167.0K | $147.0K | $2M | $2M | $2M | |
| PP&E (Gross) | · | · | · | · | $4M | $3M | $3M | |
| Accum. Depreciation | · | · | · | · | $2M | $1M | $739.0K | |
| Total Assets | $14M | $20M | $12M | $3M | $69M | $102M | $41M | |
| Accounts Payable | $1M | $2M | $1M | $3M | $527.0K | $3M | $5M | |
| Accrued Liabilities | · | · | · | $200.0K | $304.0K | $1M | $2M | |
| Current Liabilities | $4M | $4M | $4M | $5M | $4M | $7M | $12M | |
| Total Liabilities | $20M | $5M | $4M | $13M | $4M | $7M | $12M | |
| Common Stock | $4.0K | $4.0K | $1.0K | $1.0K | $2.0K | $2.0K | · | |
| Retained Earnings | $-189M | $-160M | $-146M | $-112M | $-169M | $-133M | $-106M | |
| AOCI | $0 | $4.0K | $2.0K | $-37.0K | $-16.0K | $-4.0K | $3.0K | |
| Stockholders' Equity | $-7M | $14M | $8M | $-71M | $-64M | $95M | $-103M | |
| Liabilities + Equity | $14M | $20M | $12M | $3M | $69M | $102M | $41M | |
| Shares Outstanding | 15,437,410 | 13,481,917 | 5,754,505 | 84,165 | 21,357,773 | 20,979,265 | 1,371,467 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | · | · | $58.0K | $52.0K | · | · | · | |
| Stock-based Comp | $3M | $2M | $12M | $2M | $5M | $2M | $738.0K | |
| Restructuring | · | · | · | $3M | · | · | · | |
| Operating Cash Flow | $-21M | $-21M | $-26M | $-12M | $-32M | $-32M | $-31M | |
| CapEx | $28.0K | $8.0K | $78.0K | $4.0K | $488.0K | $1M | $605.0K | |
| Investing Cash Flow | $10M | $-4M | $9M | $-4.0K | $11M | $-43M | $-21M | |
| Stock Issued | $8.0K | $28M | $10M | · | · | $96M | · | |
| Net Stock Activity | · | $28M | · | · | · | $96M | · | |
| Financing Cash Flow | $15M | $28M | $21M | $8M | $695.0K | $92M | $55M | |
| Net Change in Cash | $4M | $2M | $4M | $-3M | $-20M | $18M | $3M | |
| Taxes Paid | $0 | · | · | · | · | · | · | |
| Free Cash Flow | · | $-21M | · | · | $-32M | $-33M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| ROA | · | -85.7% | · | · | -41.9% | -38.6% | · | |
| ROE | · | -116.9% | · | · | -52.2% | -29.7% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 5.3 | · | · | 16.5 | 14.2 | · | |
| Quick Ratio | · | 5.1 | · | · | 15.7 | 13.6 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $1.07 | · | · | $3.04 | $4.52 | · | |
| Cash Flow / Share | · | $-1.88 | · | · | · | · | · | |
| Cash / Share | · | $0.59 | · | · | $0.63 | $1.59 | · | |
| EPS (TTM) | $-1.97 | $-1.22 | $-7.66 | $-111.16 | $-1.69 | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -29.7% | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $713.0K | $1M | · | · | · | · | · | |
| Net Income TTM | $-30M | $-14M | $-34M | $-8M | $-36M | $-28M | · | |
| Market Cap | · | $48M | · | · | · | · | · | |
| P/E | -3.3 | -2.9 | -0.4 | · | · | · | · | |
| P/S | · | 47.1 | · | · | · | · | · | |
| P/B | · | 3.3 | · | · | · | · | · | |
| P / Tangible Book | · | 3.3 | 2.0 | · | · | · | · | |
| P / Cash Flow | · | -2.3 | · | · | · | · | · | |
| P / FCF | · | -2.3 | · | · | · | · | · | |
| Earnings Yield | -29.9% | -34.5% | -267.8% | · | · | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $2M | $3M | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $3M | $3M | $4M | $6M | $2M | $1M | $2M | |
| SG&A Expense | $2M | $2M | $1M | $2M | $3M | $2M | $2M | $2M | $2M | $3M | $2M | $3M | $16M | $1M | $2M | $1M | |
| Operating Expenses | $4M | $6M | $4M | $6M | $7M | $6M | $6M | $6M | $7M | $6M | $5M | $7M | $22M | $3M | $3M | $4M | |
| Operating Income | $-4M | $-6M | $-4M | $-6M | $-7M | $-6M | $-6M | $-6M | $-7M | $-6M | $-5M | $-7M | $-22M | $-3M | $-3M | $-4M | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $171.0K | $60.0K | |
| Other Non-op | $231.0K | $11M | $-1M | $0 | $269.0K | $1M | $-6M | $0 | $0 | $6M | $214.0K | $279.0K | $-116.0K | $50.0K | $-49.0K | $-29.0K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.0K | $0 | $0 | |
| Net Income | $-8M | $5M | $-11M | $-8M | $-6M | $-5M | $-4M | $-6M | $-4M | $130.0K | $-5M | $-6M | $-19M | $1M | $-3M | $-3M | |
| EPS (Basic) | $-0.45 | $0.31 | $-0.69 | $-0.52 | $-0.40 | $-0.36 | $-0.37 | $-0.50 | $-0.36 | $0.01 | $-0.82 | $-1.11 | $-23.43 | $2.56 | $-31.04 | $-36.55 | |
| EPS (Diluted) | $-0.45 | $0.30 | $-0.69 | $-0.52 | $-0.40 | $-0.36 | $-0.37 | $-0.50 | $-0.36 | $0.01 | $-0.82 | $-1.11 | $-23.43 | $2.56 | $-31.04 | $-36.55 | |
| Shares (Basic) | 17,100,457 | 15,822,163 | · | 15,076,456 | 14,995,404 | 14,121,569 | · | 11,134,964 | 11,129,053 | 9,754,517 | 5,667,343 | 5,661,933 | 823,069 | · | 83,154 | 82,923 | |
| Shares (Diluted) | 17,100,457 | 16,328,947 | · | 15,076,456 | 14,995,404 | 14,121,569 | · | 11,134,964 | 11,129,053 | 10,047,415 | 5,667,343 | 5,661,933 | 823,069 | · | 83,154 | 82,923 | |
| EBITDA | $-4M | $-6M | · | $-6M | $-7M | $-6M | · | $-6M | $-7M | $-6M | $-5M | $-7M | $-22M | · | $-10M | $-8M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $19M | $8M | $12M | $5M | $6M | $13M | $8M | $9M | $5M | $7M | $12M | $19M | $24M | $1M | $10M | $14M | |
| Short-term Investments | $0 | $0 | $1M | $9M | $12M | $12M | $11M | $5M | $14M | $19M | $3M | · | $10M | $0 | $33M | $37M | |
| Prepaid Expense | $575.0K | $122.0K | $259.0K | $539.0K | $655.0K | $197.0K | $248.0K | $1M | $1M | $894.0K | $682.0K | $961.0K | $336.0K | $254.0K | $1M | $1M | |
| Current Assets | $19M | $9M | $14M | $15M | $19M | $25M | $20M | $16M | $20M | $27M | $15M | $20M | $34M | $2M | $45M | $52M | |
| PP&E (Net) | $36.0K | $43.0K | $50.0K | $49.0K | $105.0K | $118.0K | $119.0K | $130.0K | $138.0K | $153.0K | $187.0K | $199.0K | $134.0K | $147.0K | · | $2M | |
| Total Assets | $20M | $9M | $14M | $15M | $19M | $25M | $20M | $16M | $21M | $27M | $16M | $20M | $35M | $3M | $45M | $54M | |
| Accounts Payable | $2M | $2M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $2M | $3M | $498.0K | $1M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $200.0K | $463.0K | |
| Current Liabilities | $3M | $5M | $4M | $4M | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $13M | $5M | $4M | $4M | |
| Total Liabilities | $14M | $10M | $20M | $15M | $13M | $14M | $5M | $7M | $7M | $10M | $4M | $4M | $13M | $13M | $4M | $4M | |
| Common Stock | $6.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $3.0K | $3.0K | $3.0K | $1.0K | $1.0K | $1.0K | $1.0K | $2.0K | $2.0K | |
| Retained Earnings | $-192M | $-184M | $-189M | $-179M | $-171M | $-165M | $-160M | $-156M | $-150M | $-146M | $-142M | $-137M | $-131M | $-112M | $-197M | $-188M | |
| AOCI | $-1.0K | · | $0 | $1.0K | $-4.0K | $-1.0K | $4.0K | $4.0K | $-9.0K | $-17.0K | · | · | · | · | $-123.0K | $-179.0K | |
| Stockholders' Equity | $6M | $-1M | $-7M | $-268.0K | $6M | $11M | $14M | $9M | $14M | $17M | $12M | $16M | $22M | $-71M | $42M | $50M | |
| Liabilities + Equity | $20M | $9M | $14M | $15M | $19M | $25M | $20M | $16M | $21M | $27M | $16M | $20M | $35M | $3M | $45M | $54M | |
| Shares Outstanding | 30,736,401 | 15,746,416 | 15,437,410 | 14,257,234 | 13,971,990 | 13,971,990 | 13,481,917 | 10,761,917 | 10,750,156 | 10,740,115 | 5,684,873 | 5,661,933 | 5,661,933 | 84,165 | · | · |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | $12.0K | $14.0K | $13.0K | $13.0K | $13.0K | $13.0K | |
| Stock-based Comp | $540.0K | $561.0K | $622.0K | $625.0K | $1M | $549.0K | $632.0K | $781.0K | $486.0K | $414.0K | $482.0K | $463.0K | $11M | $752.0K | $-2M | $-886.0K | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $2M | · | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | · | · | · | $3M | · | · | · | |
| Operating Cash Flow | $-5M | $-5M | $-5M | $-5M | $-7M | $-5M | $-5M | $-5M | $-7M | $-5M | $-5M | $-12M | $-5M | $-4M | $3M | $682.0K | |
| CapEx | $0 | $0 | $6.0K | $8.0K | $5.0K | $9.0K | $2.0K | $6.0K | $0 | $0 | $0 | · | · | $0 | $-169.0K | $0 | |
| Investing Cash Flow | $42.0K | $2M | $7M | $4M | $134.0K | $-1M | $-5M | $9M | $5M | $-13M | $-3M | $10M | $5M | $0 | $-11M | $-2M | |
| Stock Issued | $12M | $0 | $0 | $0 | $0 | $8.0K | $9M | $0 | $-60.0K | $19M | $0 | $0 | $10M | · | · | · | |
| Net Stock Activity | · | $0 | · | · | · | $8.0K | · | · | · | $19M | · | · | $10M | · | · | · | |
| Financing Cash Flow | $15M | $0 | $4M | $818.0K | $-102.0K | $11M | $9M | $16.0K | $-7.0K | $19M | $72.0K | $-3M | $24M | $5M | $3M | $1M | |
| Net Change in Cash | $10M | $-3M | $6M | $-448.0K | $-7M | $5M | $-1M | $4M | $-2M | $1M | $-7M | $-5M | $23M | $1M | $-5M | $465.0K | |
| Free Cash Flow | · | $-5M | · | · | · | $-5M | · | · | · | · | · | · | · | · | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -7429.6% | -5293.4% | · | -4012.9% | -3009.6% | -3216.3% | · | · | · | · | · | · | · | · | · | · | |
| Net Margin | -14170.4% | 4694.3% | · | -5574.3% | -2707.3% | -2496.0% | · | · | · | · | · | · | · | · | · | · | |
| EBITDA Margin | -7429.6% | -5293.4% | · | -4012.9% | -3009.6% | -3216.3% | · | · | · | · | · | · | · | · | · | · | |
| ROA | -39.7% | 29.3% | · | -50.1% | -29.7% | -19.2% | · | -35.0% | -19.1% | 0.42% | -15.1% | -17.0% | -40.5% | · | -16.1% | -12.0% | |
| ROE | -131.8% | 101.7% | · | -178.1% | -59.7% | -35.8% | · | -53.0% | -26.3% | 0.66% | -17.2% | -19.1% | -49.3% | · | -17.2% | -12.8% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.6 | 1.6 | · | 4.0 | 5.5 | 5.7 | · | 4.1 | 5.2 | 6.2 | 4.1 | 5.0 | 2.7 | · | 12.0 | 11.9 | |
| Quick Ratio | 5.3 | 1.5 | · | 3.8 | 5.2 | 5.5 | · | 3.9 | 4.9 | 6.0 | 4.0 | 4.7 | 2.7 | · | 11.6 | 11.7 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | · | · | · | · | · | · | · | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.18 | $-0.07 | · | $-0.02 | $0.44 | $0.78 | · | $0.84 | $1.29 | $1.61 | $2.14 | $2.86 | $3.89 | · | · | · | |
| Revenue / Share | $0.00 | $0.01 | · | $0.01 | $0.01 | $0.01 | · | · | · | · | · | · | · | · | · | · | |
| Cash Flow / Share | · | $-0.30 | · | · | · | $-0.35 | · | · | · | $-0.47 | · | · | $-6.51 | · | · | · | |
| Cash / Share | $0.61 | $0.52 | · | $0.38 | $0.42 | $0.90 | · | $0.85 | $0.47 | $0.63 | $2.05 | $3.37 | $4.31 | · | · | · | |
| EPS (TTM) | $-1.36 | $-1.31 | · | $-1.65 | $-1.63 | $-1.59 | · | · | · | · | $-22.80 | $-53.02 | $-88.46 | · | $-114.13 | $-83.47 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $451.0K | $617.0K | · | $776.0K | $854.0K | $909.0K | · | · | · | · | · | · | · | · | · | · | |
| Net Income TTM | $-21M | $-20M | · | $-23M | $-21M | $-19M | · | · | · | · | $-29M | $-27M | $-23M | · | $-18M | $-23M | |
| Market Cap | $32M | $9M | · | $44M | $22M | $27M | · | $48M | $43M | $45M | $15M | $23M | · | · | · | · | |
| P/E | -0.8 | -0.4 | · | -1.9 | -1.0 | -1.2 | · | · | · | · | -0.1 | -0.1 | · | · | · | · | |
| P/S | 70.2 | 13.8 | · | 56.5 | 26.2 | 29.4 | · | · | · | · | · | · | · | · | · | · | |
| P/B | 5.7 | -7.7 | · | -163.6 | 3.7 | 2.5 | · | 5.3 | 3.1 | 2.6 | 1.2 | 1.4 | · | · | · | · | |
| P / Tangible Book | 5.7 | · | · | · | 3.7 | 2.5 | · | 5.3 | 3.1 | 2.6 | 1.2 | 1.4 | · | · | · | · | |
| P / Cash Flow | · | -1.8 | · | · | · | -5.5 | · | · | · | -9.5 | · | · | · | · | · | · | |
| Earnings Yield | -132.0% | -242.6% | · | -53.6% | -101.9% | -83.2% | · | · | · | · | -857.1% | -1322.2% | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Net Income | $-30M | $-14M | $-34M | $-8M | $-36M |
| Diluted EPS | $-1.97 | $-1.22 | $-7.66 | $-111.16 | $-1.69 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | · | 5.3 | · | · | 16.5 |
| Quick Ratio | · | 5.1 | · | · | 15.7 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | $-21M | · | · | $-32M |
Institutional owners (13F) 35 filers · $11.6M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
35
Value held
$11.6M
New positions
10
Exited positions
6
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 10 (-2 vs prior Q) | 6 (-6 vs prior Q) | 5 (+1 vs prior Q) | 7 (+2 vs prior Q) | +7.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $2,687,408 | 407,801 | 23.20% | Shares |
| Woodline Partners LP | $2,564,421 | 2,489,729 | 22.14% | Shares |
| HEIGHTS CAPITAL MANAGEMENT, INC | $1,602,763 | 1,556,081 | 13.83% | Shares |
| Squadron Capital Management LLC | $1,282,210 | 1,244,864 | 11.07% | Shares |
| STEMPOINT CAPITAL LP | $1,195,661 | 1,244,864 | 10.32% | Shares |
| Stonepine Capital Management, LLC | $544,939 | 622,432 | 4.70% | Shares |
| MERITAGE PORTFOLIO MANAGEMENT | $405,542 | 61,539 | 3.50% | Shares |
| L1 Global Manager Pty Ltd | $256,441 | 248,972 | 2.21% | Shares |
| Sheets Smith Investment Management | $157,173 | 51,100 | 1.36% | Shares |
| MORGAN STANLEY | $147,543 | 143,245 | 1.27% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $113,846 | 110,477 | 0.98% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $100,219 | 97,300 | 0.87% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $91,625 | 88,956 | 0.79% | Shares |
| 180 WEALTH ADVISORS, LLC | $85,902 | 83,400 | 0.74% | Shares |
| XTX Topco Ltd | $80,637 | 78,288 | 0.70% | Shares |
| CITADEL ADVISORS LLC | $73,954 | 71,800 | 0.64% | Call option |
| VANGUARD FIDUCIARY TRUST CO | $47,204 | 45,829 | 0.41% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $45,287 | 43,968 | 0.39% | Shares |
| Rockefeller Capital Management L.P. | $20,600 | 20,000 | 0.18% | Shares |
| STATE STREET CORP | $17,585 | 17,073 | 0.15% | Shares |
| TritonPoint Partners, LLC | $15,573 | 15,119 | 0.13% | Shares |
| Scientech Research LLC | $15,558 | 15,105 | 0.13% | Shares |
| NORTHERN TRUST CORP | $12,906 | 12,530 | 0.11% | Shares |
| Sound View Wealth Advisors Group, LLC | $10,300 | 10,000 | 0.09% | Shares |
| SIMPLEX TRADING, LLC | $4,864 | 4,723 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $4,227 | 4,104 | 0.04% | Shares |
| BROWN BROTHERS HARRIMAN & CO | $317 | 308 | 0.00% | Shares |
| BARCLAYS PLC | $282 | 274 | 0.00% | Shares |
| OSAIC HOLDINGS, INC. | $110 | 107 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $90 | 87 | 0.00% | Shares |
| Cambridge Investment Research Advisors, Inc. | $62 | 60,000 | 0.00% | Shares |
| HRT FINANCIAL LP | $48 | 46,825 | 0.00% | Shares |
| GSA CAPITAL PARTNERS LLP | $18 | 17,469 | 0.00% | Shares |
| UBS Group AG | $16 | 16 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $10 | 10 | 0.00% | Shares |
Activists & 5%+ owners 6 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Alafi Capital Company LLC, Christopher D. Alafi ×2 filings | Aug. 24, 2026 | 19.90% | Amendment | · | SEC |
| Bering Partners II GP, L.L.C., Bering Partners II, L.P., Evgeny Zaytsev, Philip M Sawyer ×2 filings | Aug. 21, 2026 | 9.99% | Amendment | · | SEC |
| Valence Investments SPV IV, LLC, Valence Investments SPV V, LLC, Valence Investments SPV VI, LLC, Eric W. Roberts, A. Rachel Leheny ×5 filings | June 30, 2026 | 6.40% | Amendment | · | SEC |
| Sanderling Ventures Partners VI, L.P., Sanderling Venture Partners VI Co-Investment Fund, L.P., Sanderling Ventures VII, L.P., Sanderling Ventures VII (Canada), L.P., Sanderling Ventures VII Annex Fund, L.P., Sanderling Ventures Management VI, Sanderling Ventures Management VII, Sanderling VI Beteiligungs GmbH & Co KG, Sanderling VI Limited Partnership, Fred A. Middleton, Timothy C. Mills | Nov. 26, 2024 | · | Initial filing | · | SEC |
| OrbiMed Advisors LLC, OrbiMed Capital GP VI LLC ×4 filings | Feb. 5, 2024 | · | Initial filing | · | SEC |
| Deerfield Mgmt III, L.P., Deerfield Private Design Fund III, L.P., Deerfield Mgmt HIF, L.P., Deerfield Healthcare Innovations Fund, L.P., Deerfield Mgmt, L.P., Deerfield Partners, L.P., Deerfield Management Company, L.P., James E. Flynn ×6 filings | May 23, 2023 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 24 insiders · 10 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Rachel A. Leheny | CHIEF EXECUTIVE OFFICER | Sept. 24, 2026 A | 317,655 | 0 | 0 | $0 |
| Stephen Bardin | Chief Financial Officer | Sept. 24, 2026 A | 3,000 | 0 | 0 | $0 |
| Daniel E. Geffken | Interim CFO | May 17, 2024 A | · | 0 | 0 | $0 |
| Robert S Breuil | Chief Financial Officer | March 23, 2023 D | 35,326 | 0 | 0 | $0 |
| Michael J. Dunn | President and COO | April 5, 2025 A | 11,761 | 0 | 0 | $0 |
| Kenneth A. Stauderman | Chief Scientific Officer | Sept. 24, 2026 A | 12,944 | 0 | 0 | $0 |
| Sudarshan Hebbar | Chief Medical Officer | Sept. 24, 2026 A | 186,025 | 0 | 0 | $0 |
| Eric W Roberts | CHIEF BUSINESS OFFICER | Aug. 19, 2026 A | 366,435 | 0 | 0 | $0 |
| Parisa Zamiri | Chief Medical Officer | March 23, 2023 D | 28,982 | 0 | 0 | $0 |
| Daniel Salain | CTOO | Dec. 8, 2020 A | · | 0 | 0 | $0 |
| Frederic Guerard | Director | Aug. 19, 2026 A | 90,727 | 0 | 0 | $0 |
| Alan Glicklich | Director | Aug. 19, 2026 A | · | 0 | 0 | $0 |
| Evgeny Zaytsev | Director | Aug. 19, 2026 A | · | 0 | 0 | $0 |
| Allan Shaw | Director | Aug. 19, 2026 A | · | 0 | 0 | $0 |
| Robert N Wilson | Director | Aug. 19, 2026 A | 1,604,650 | 0 | 0 | $0 |
| Fred A Middleton | Director | June 25, 2026 P | 1,063,272 | 1 | 0 | $199,178 |
| Eric Bjerkholt | Director | Aug. 27, 2024 A | 3,684 | 0 | 0 | $0 |
| Dirk Sauer | Director | March 23, 2023 D | 1,429 | 0 | 0 | $0 |
| Christina Ackermann | Director | March 23, 2023 D | 1,429 | 0 | 0 | $0 |
| Julia Marie Eastland | Director | March 23, 2023 D | 1,429 | 0 | 0 | $0 |
| Christy L Shaffer | Director | March 23, 2023 D | 1,429 | 0 | 0 | $0 |
| Gerald D. Cagle | Director | June 2, 2021 A | 3,322 | 0 | 0 | $0 |
| Hansoo Michael Keyoung | Director | Sept. 29, 2020 C | 1,133,596 | 0 | 0 | $0 |
| Alafi Capital Company LLC | 10% owner | Aug. 19, 2026 A | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
CALC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 10 analysts
BUY
Median target
$45.00
+2712.5%
3 30.0%
Strong Buy
5 50.0%
Buy
2 20.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
3 analysts · 2026-09-30Mean target $50.00 +3025.0%
← Below all targets
Current price $1.60
Low$30.00
Mean$50.00
High$75.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
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Source: SEC 10-Q filed Aug 11, 2026