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.
