CalciMedica Inc (NASDAQ: CALC) is a clinical-stage biopharmaceutical company developing small-molecule inhibitors of the CRAC (calcium release-activated calcium) channel, targeting the Orai1 protein. The company generates no product revenue, funding operations through equity offerings and debt financing, including a Loan and Security Agreement with Avenue Capital Management II dated February 28, 2025. CalciMedica's lead program targets acute pancreatitis, with the CARPO trial conducted in part in India, and preclinical work points to additional potential indications including chronic pancreatitis and autoimmune diseases such as collagen-induced arthritis. The company is listed on the Nasdaq Capital Market and, as of its 10-K filed March 3, 2026, reported accumulated deficits consistent with a pre-revenue drug development stage. Capital structure leans on at-the-market equity issuances, underwritten public offerings, and venture debt. No product has received marketing approval as of the filing date.

Revenue model

No product revenue as of the 10-K filed March 3, 2026. Operations are funded through equity capital raises, including at-the-market and underwritten public offerings, and venture debt from Avenue Capital Management II.

Products and services

Orally administered CRAC channel inhibitors targeting Orai1. Lead indication: acute pancreatitis (CARPO clinical trial). Preclinical indications include chronic pancreatitis and autoimmune/inflammatory diseases such as collagen-induced arthritis.

Customers and end markets

No commercial customers as of the 10-K filed March 3, 2026. End markets, if products are approved, would be hospital and clinical settings treating acute pancreatitis, chronic pancreatitis, and autoimmune diseases.

Value-chain role

Drug discovery and clinical-stage development. Relies on third-party contract research organizations and research institutions for clinical trial conduct and data. No manufacturing or commercial infrastructure disclosed in the filing excerpts.

Geographic exposure

Primarily United States-based operations. The CARPO clinical trial was conducted in part in India. Regulatory references include FDA (U.S.), EMA (EU), MHRA (UK), and India's DPDP framework, indicating awareness of multi-jurisdiction development pathways.

Source: SEC 10-K, filed 2026-03-03

Industry: Pharmaceutical Preparations Peers: Acer Therapeutics Inc. Biofrontera Inc Context Therapeutics Inc Johnson & Johnson LANNETT CO INC Traws Pharma Inc Provectus Biopharmaceuticals Inc