other material
confidence high
sentiment negative
materiality 0.80
CalciMedica restates FY2022 results; net loss cut $6.7M on valuation errors
CalciMedica, Inc.
- Board concluded on May 8, 2023 that FY2022 financials contained errors in convertible note and warrant liability valuations.
- Restatement reduced net loss and comprehensive loss from $14.5M to $7.8M; EPS improved from ($5.08) to ($3.20).
- Warrant liability restated to $2.6M (from $4.2M); convertible promissory notes restated to $5.2M (from $8.9M).
- Prior FY2022 financials and related communications should no longer be relied upon.