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Tag: CALA Stock

  • Calithera Biosciences Inc. (CALA) stock Plunges After Hours Due to Profit Booking

    Calithera Biosciences Inc. (CALA) stock Plunges After Hours Due to Profit Booking

    On February 25, Calithera Biosciences Inc. (CALA) stock added 14.78% during the regular session. There was no official announcement or SEC filing from the company behind the uptrend. Consequently, the stock fell down due to profit booking in the following aftermarket session.

    During the regular trading session, CALA fluctuated between a high of $0.5200 and a low of $0.4454. The stock closed the session at $0.5188 while 440.86K shares exchanged hands. The day’s volume remained at a mere 28% of its average 1.57 million shares as there was no official driving factor. Following the gain, the stock lost 7.48% in the after-hours due to profit booking. Thus, CALA stock was trading at $0.4800 per share in the after-hours on Friday.

    The clinical-stage biopharmaceutical company, Calithera Biosciences Inc. was founded in 2010. Currently, the company has a market capitalization of $38.87 million with 74.93 million shares outstanding. In the past five days, CALA stock has gained 8.29% while adding 24.23% last month. Moreover, the stock stands at a year-to-date loss of 22.01% while it declined by a huge 82.23%.

    CALA’s Recent Participations

    On February 17, 2022, the company participated in the 11th Annual SVB Leerink Global Healthcare Conference. CALA’s founder, president, and CEO, Susan Molineaux participated in a fireside chat at the conference.

    Previously, Susan Molineaux had also presented at the H.C. Wainwright Bioconnect Virtual Conference on January 10, 2022.

    Before that, in November 2021, she had also participated in the 2021 Jefferies London Healthcare Conference.

    Other Developments

    On November 05, the company announced the promotion of the then vice president and head of clinical development, Dr. Emil T. Kuriakose to Chief Medical Officer. Moreover, the then CMO, Dr. Keith Orford was appointed to the company’s board of directors who was succeeded by Dr. Kurikose.

    On the same day, CALA also announced the decision to discontinue the phase 2 KEAPSAKE Clinical Trial. The interim analysis of the trial showed a lack of clinical benefit among patients treated with telaglenastat.

    CALA’s Q3 2021 Results

    In Q3 2021, the company had revenue of $6.8 million due to milestone payments under Incyte Collaboration Agreement.

    Furthermore, CALA suffered from a net loss of $11.2 million in the third quarter of 2021.

    The company ended the quarter with cash, cash equivalents, and investments of $84.5 million on September 30, 2021.

  • Here’s What you Should Know About Shining Premarket Calithera Biosciences, Inc. (CALA) Stock.

    Calithera Biosciences, Inc. (CALA) is a leading biotherapeutics company focused on the development of drugs used to treat cancers. One of the lead product candidates of the company is CB-839 in Phase 2 is used in the treatment of solid tumors. INCB001158 is in Phase1/2 trials for treating hematological and oncological disorders.

    The price of CALA stock during the regular trading on January 19, 2022, with a decrease of 3.06% was $0.49. At last check in the premarket on January 20, 2022, the stock skyrocketed by 19.58%.

    CALA: Events and Happenings

    On January 05, 2022, CALA reported that the company’s Executives presented at the Virtual H.C. Wainwright BioConnect Conference on January 10, 2022. On November 12, 2021, CALA reported that the company’s Executives presented at the Jefferies London Healthcare Conference on November 18, 2021.

    CALA: Key Financials

    On November 09, 2021, CALA reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows.

    Revenue and Assets

    Revenue in the third quarter of 2021 was $6.8 million compared to no revenue in Q3 2020. Total assets of the company in the third quarter of 2021 were $89.9 million.

    Net Loss per Share

    Basic and diluted net loss in Q3 2021 was $11.1 million or $0.15 per share. For the same period of 2020 net loss was $22.7 million or $0.32 per share.

    On November 05, 2021, CALA reported about its termination decision of the phase II clinical trial of KEAPSAKE. The decision was taken due to the non-availability of clinical benefit in patients using telaglenastat in the interim study. On November 01, 2021, CALA reported the safety and efficacy interim data from Phase 1 trials of CB-280 in cystic fibrosis patients. The results were shared at the North American Cystic Fibrosis Foundation Conference in the form of a poster presentation.

    Conclusion

    CALA stock is 76% down as compared to the past six months period due to economic recession as a result of the pandemic. The company’s stock jumped in the recent premarket trading due to the interest of shareholders in the sound economic strategies of the company. It is the result of uncertain market conditions. The financial experts are predicting this momentous gain to pave the way for futuristic collaborations.