$CALC
CalciMedica, Inc.

2022 Q4 Form 10-Q Financial Statement

#000156459022037397 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.435M $4.299M $3.996M
YoY Change 45.16% 7.58% 93.98%
% of Gross Profit
Research & Development $749.0K $3.249M $4.021M
YoY Change -82.45% -19.2% -15.47%
% of Gross Profit
Depreciation & Amortization $0.00 $91.00K $136.0K
YoY Change -100.0% -33.09% 51.11%
% of Gross Profit
Operating Expenses $7.184M $9.983M $8.017M
YoY Change -17.43% 24.52% 17.53%
Operating Profit -$9.983M -$8.017M
YoY Change 24.52% 17.53%
Interest Expense $309.0K $171.0K $28.00K
YoY Change 1088.46% 510.71%
% of Operating Profit
Other Income/Expense, Net $707.0K $0.00
YoY Change -100.0%
Pretax Income -$7.403M -$9.812M -$7.989M
YoY Change -14.66% 22.82% 69.26%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$7.403M -$9.812M -$7.989M
YoY Change -14.66% 22.82% 69.4%
Net Earnings / Revenue
Basic Earnings Per Share -$0.46 -$0.38
Diluted Earnings Per Share -$0.34 -$0.46 -$375.3K
COMMON SHARES
Basic Shares Outstanding 21.56M 21.52M 21.29M
Diluted Shares Outstanding 21.54M 21.29M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.13M $43.63M $72.55M
YoY Change -38.55% -39.87% -23.63%
Cash & Equivalents $17.30M $10.17M $11.45M
Short-Term Investments $21.82M $33.46M $61.10M
Other Short-Term Assets $542.0K $1.444M $1.942M
YoY Change -59.94% -25.64% 1842.0%
Inventory
Prepaid Expenses $503.0K
Receivables
Other Receivables
Total Short-Term Assets $39.67M $45.07M $74.50M
YoY Change -40.86% -39.5% -21.67%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $290.0K $2.113M
YoY Change -100.0% -86.28% 18.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $29.00K
YoY Change -100.0% -98.07%
Total Long-Term Assets $0.00 $290.0K $2.142M
YoY Change -100.0% -86.46% -34.68%
TOTAL ASSETS
Total Short-Term Assets $39.67M $45.07M $74.50M
Total Long-Term Assets $0.00 $290.0K $2.142M
Total Assets $39.67M $45.36M $76.64M
YoY Change -42.58% -40.81% -22.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.716M $498.0K $2.066M
YoY Change 225.62% -75.9% -54.71%
Accrued Expenses $200.0K $200.0K $1.729M
YoY Change -34.21% -88.43% 69.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.699M $3.762M $4.490M
YoY Change -8.82% -16.21% -42.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $12.00K
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00 $12.00K
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.699M $3.762M $4.490M
Total Long-Term Liabilities $0.00 $0.00 $12.00K
Total Liabilities $3.699M $3.762M $4.502M
YoY Change -9.0% -16.44% -41.92%
SHAREHOLDERS EQUITY
Retained Earnings -$204.8M -$197.4M -$160.5M
YoY Change 21.05% 22.99% 29.21%
Common Stock $240.8M $239.1M $2.000K
YoY Change 2.81% 11955500.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.97M $41.60M $72.14M
YoY Change
Total Liabilities & Shareholders Equity $39.67M $45.36M $76.64M
YoY Change -42.58% -40.81% -22.1%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$7.403M -$9.812M -$7.989M
YoY Change -14.66% 22.82% 69.4%
Depreciation, Depletion And Amortization $0.00 $91.00K $136.0K
YoY Change -100.0% -33.09% 51.11%
Cash From Operating Activities -$5.073M -$7.143M -$5.500M
YoY Change -43.35% 29.87% 2.61%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$135.0K -$180.0K
YoY Change -100.0% -25.0% 260.0%
Acquisitions
YoY Change
Other Investing Activities $12.26M $3.593M $9.241M
YoY Change 13.62% -61.12%
Cash From Investing Activities $12.26M $3.458M $9.061M
YoY Change 13.67% -61.84% -18222.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -53.00K -17.00K 27.00K
YoY Change -165.43% -162.96% -99.97%
NET CHANGE
Cash From Operating Activities -5.073M -7.143M -5.500M
Cash From Investing Activities 12.26M 3.458M 9.061M
Cash From Financing Activities -53.00K -17.00K 27.00K
Net Change In Cash 7.134M -3.702M 3.588M
YoY Change 273.12% -203.18% -95.37%
FREE CASH FLOW
Cash From Operating Activities -$5.073M -$7.143M -$5.500M
Capital Expenditures $0.00 -$135.0K -$180.0K
Free Cash Flow -$5.073M -$7.008M -$5.320M
YoY Change -43.32% 31.73% 0.19%

Facts In Submission

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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-21966000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13364000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33418000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10170000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11452000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
567000
gray Acquired In Process Research And Development In Accrued Liabilities
AcquiredInProcessResearchAndDevelopmentInAccruedLiabilities
250000
gray Property And Equipment Purchases Included In Accounts Payable And Other Current Liabilities
PropertyAndEquipmentPurchasesIncludedInAccountsPayableAndOtherCurrentLiabilities
115000
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.71
CY2022Q3 us-gaap Restructuring Charges
RestructuringCharges
2400000
CY2022Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
20
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-197400000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates   </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.68%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting periods. Actual results could differ from those estimates. Significant items subject to estimates include estimates related to accrued research and development expenses, contingent milestone payments, other long-lived assets, assets held for sale, stock-based compensation, incremental borrowing rates for leases and the valuation of deferred tax assets. The Company bases its estimates using historical experience, Company forecasts and future plans, current economic conditions, and information from third-party professionals that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities and recorded amounts of expenses that are not readily apparent from other sources, and adjusts those estimates and assumptions when facts and circumstances dictate.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.68%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s results can also be affected by economic, political, legislative, regulatory and legal actions. Economic conditions, such as recessionary trends, inflation, interest, changes in regulatory laws and monetary exchange rates, and government fiscal policies, can have a significant effect on operations. While the Company maintains reserves for anticipated liabilities, the Company could be adversely affected by civil, criminal, regulatory or administrative actions, claims, or related proceedings.</p>
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
600000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
600000
CY2022Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
9620000
CY2022Q3 gray Short Term Investment Fair Value Disclosure
ShortTermInvestmentFairValueDisclosure
33457000
CY2022Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
43077000
CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
13149000
CY2021Q4 gray Short Term Investment Fair Value Disclosure
ShortTermInvestmentFairValueDisclosure
50306000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
63455000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2022Q3 gray Fair Value Assets Transfers Amount Between Levels1 And2
FairValueAssetsTransfersAmountBetweenLevels1And2
0
CY2022Q3 gray Fair Value Liabilities Transfers Amount Between Levels1 And2
FairValueLiabilitiesTransfersAmountBetweenLevels1And2
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
33500000
CY2021 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1032000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2278000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
837000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
461000
CY2022Q3 gray Severance And Termination Benefits
SeveranceAndTerminationBenefits
538000
CY2022Q3 gray Holdback Liability For Acquisition Of In Process Research And Development
HoldbackLiabilityForAcquisitionOfInProcessResearchAndDevelopment
250000
CY2021Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
8000
CY2022Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
105000
CY2021Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
479000
CY2022Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2762000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3226000
CY2022Q3 gray Number Of Contract Currently In Effect
NumberOfContractCurrentlyInEffect
1
gray Unpaid Cancellation And Other Related Costs
UnpaidCancellationAndOtherRelatedCosts
0
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
103000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
205000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
308000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
302000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
527000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
205000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
732000
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
2200000
gray Development Or Regulatory Milestones Were Deemed Probable Of Achievement
DevelopmentOrRegulatoryMilestonesWereDeemedProbableOfAchievement
0
gray Contingent Payments Recognized
ContingentPaymentsRecognized
0
CY2022Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1309000
CY2022Q3 us-gaap Severance Costs1
SeveranceCosts1
1025000
CY2022Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
101000
CY2022Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
2435000
CY2022Q3 gray Net Book Value Of Capital Equipment Before Impairment
NetBookValueOfCapitalEquipmentBeforeImpairment
1659000
CY2022Q3 gray Fair Value Of Capital Equipment
FairValueOfCapitalEquipment
350000
CY2022Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1309000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1680000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1431000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4971000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3872000
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
13500000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y4M24D
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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