The information in this article is based on a press release statement from CalciMedica. The company's forward-looking statements involve risks and uncertainties, and actual results may differ materially from those projected. CalciMedica has emphasized that it does not undertake any obligation to update forward-looking statements after the date of the release. For comprehensive financial analysis and additional insights, including 7 more exclusive ProTips, visit InvestingPro. For comprehensive financial analysis and additional insights, including 7 more exclusive ProTips, visit InvestingPro. Dr. Glicklich, with over two decades of biotech industry experience and current Chief Medical (TASE:PMCN) Officer at Nuvig Therapeutics, is poised to contribute significantly to CalciMedica's clinical development strategies.
The appointment comes as CalciMedica advances its lead drug candidate, Auxora, through various stages of clinical trials. With a current ratio of 4.15, the company appears well-positioned to fund its ongoing research, though InvestingPro analysis indicates rapid cash burn rates. Auxora is currently being evaluated in a Phase 3 trial for acute pancreatitis and a Phase 2 trial for acute kidney injury, with results expected later this year. Analyst price targets range from $15 to $20, suggesting significant potential upside from current levels.
Dr. Glicklich's extensive background includes key positions at several pharmaceutical companies, where he led clinical teams and designed pivotal studies. His expertise in inflammatory and immunologic disease spaces is seen as a valuable asset for CalciMedica's ongoing research and development efforts.
Rachel Leheny, Ph.D., CEO of CalciMedica, expressed confidence in Dr. Glicklich's ability to guide the company through its next phase of clinical trials. She highlighted his impressive track record and the anticipated value of his insights for the company's future.
Auxora has shown promise in reducing organ failure in acute inflammatory diseases, a significant cause of mortality and morbidity where current treatments are inadequate. Dr. Glicklich expressed his eagerness to work with CalciMedica to deliver these therapies to patients in need.
The information in this article is based on a press release statement from CalciMedica. The company's forward-looking statements involve risks and uncertainties, and actual results may differ materially from those projected. CalciMedica has emphasized that it does not undertake any obligation to update forward-looking statements after the date of the release.
In other recent news, CalciMedica has experienced significant changes in its leadership and released positive trial results. Eric Bjerkholt resigned from the board, and Dr. Alan Glicklich was appointed as a Class I director. Stephen Bardin was appointed as the new CFO, replacing interim CFO Dan Geffken.
CalciMedica also reported positive results from its Phase 2b CARPO trial of Auxora for acute pancreatitis with systemic inflammatory response syndrome, which led to H.C. Wainwright adjusting its price target for the company to $16.00, while maintaining a Buy rating.
The company initiated a public stock offering and expanded its 2023 Equity Incentive Plan by 1.5 million shares after stockholder approval. These are among the recent developments in the company's operations.
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