LA JOLLA, Calif., June 24, 2026
CalciMedica, Inc. (Nasdaq: CALC) announced a private placement financing of up to approximately $49 million to accelerate development of its pulmonary hypertension (PH) program. The financing includes participation from leading healthcare investors as well as members of the company’s board and management team. The proceeds are expected to support a focused strategy centered on Auxora™, the company’s intravenous CRAC channel inhibitor, and CM5480, its proprietary oral CRAC channel inhibitor candidate. The transaction provides upfront proceeds of approximately $15 million, with the potential to generate an additional $34 million through future warrant exercises. CalciMedica stated that the financing is expected to extend its cash runway into the second half of 2027, supporting key clinical and regulatory milestones.
Auxora Program Advances Toward Pulmonary Hypertension Proof-of-Concept
CalciMedica plans to use the proceeds to initiate a Phase 1b proof-of-concept clinical study evaluating Auxora™ (zegocractin) in patients with pulmonary arterial hypertension (PAH). The company expects to report study data in mid-2027. The trial is designed to generate early human evidence supporting CRAC channel inhibition as a novel therapeutic approach for pulmonary hypertension. Unlike currently approved therapies that primarily target the pulmonary vasculature, CalciMedica believes CRAC channel inhibition may provide direct benefits to both the pulmonary arteries and the right ventricle of the heart, which is a major determinant of disease progression and mortality in pulmonary hypertension patients. Auxora has already been evaluated in more than 350 patients across multiple clinical studies, providing an established clinical safety database to support further development.
CM5480 Development Strengthened by New Funding
The financing will also support continued advancement of CM5480, CalciMedica’s oral CRAC channel inhibitor candidate being developed for chronic inflammatory and cardiopulmonary diseases. The company anticipates Investigational New Drug (IND) clearance in mid-2027. According to CalciMedica, preclinical studies have demonstrated that CM5480 may reduce pulmonary vascular resistance, improve cardiac output, decrease right ventricular hypertrophy and fibrosis, and improve overall heart function. These findings suggest that CRAC channel inhibition could offer a differentiated therapeutic approach for pulmonary hypertension by addressing both vascular remodeling and cardiac dysfunction. Successful results from the planned Auxora study could significantly de-risk the future development of CM5480 and strengthen the company’s long-term strategy in pulmonary vascular diseases.
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Financing Validates Novel CRAC Channel Inhibition Strategy
Company leadership highlighted the financing as a strong endorsement of CalciMedica’s scientific platform and development strategy. Chief Executive Officer Rachel Leheny, Ph.D., noted that pulmonary arterial hypertension represents a multi-billion-dollar market with significant unmet medical need despite existing therapies. The company believes that targeting Orai1-mediated CRAC channel signaling could become a first-in-class approach capable of addressing the underlying mechanisms driving disease progression. Chief Medical Officer Sudarshan Hebbar, M.D., added that the growing body of preclinical and genetic evidence supporting CRAC channel inhibition provides a compelling rationale for advancing the program into human studies. With regulatory support, a strengthened balance sheet, and a clear clinical roadmap, CalciMedica is positioning itself to become a significant player in the development of next-generation therapies for pulmonary hypertension and related cardiopulmonary disorders.
Source: CalciMedica press release
