Calithera Biosciences, Inc. (CALA) stock declined in the after-hours market after announcing the intention of the public offering. CALA’s stock price is $0.42, losing more than 30% compared to the previous closing price. CALA stock closed at $0.60 at the end of the last trading session. CALA stock volume traded in the last trading session was around 7.30 million shares. The current market cap of the company is about $47.20 million.
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CALA: Public Offering
According to a news release issued by Calithera Biosciences, Inc. (CALA), the company plans to conduct an underwritten public offering. It would offer and sell shares of its common stock, warrants to buy shares of its common stock, and warrants with pre-funded capital. Calithera is offering all common stock, warrants, and pre-funded warrants.
The offering’s joint book-running managers are SVB Leerink and H.C. Wainwright & Co. Several factors, such as market circumstances and NASDAQ clearance, influence whether or not the offering may be completed, including its size and terms.
CALA: Upcoming Events
On March 24, 2022, the company announced that the management would announce the fourth quarter and fiscal 2021 results in a press release. The management will host a conference call on Thursday, March 31, 2022. The timings of the call are 2:00 p.m. or the Pacific or Eastern Time at 5:00 p.m.
The company will not only discuss fiscal 2021 financial performance but will also discuss and provides corporate updates during the conference call.
CALA: Q3 Results
- CALA’s revenue in Q3 was $6.75 million, more than 2x of Q2 revenue.
- Its net loss was $11.17 million, which improved by 50.86%.
- As of the third quarter, the company had cash and cash equivalents of $84.49 million.
The company was pre-revenue, made $3.00 million in its second quarter, and increased its revenue in the third quarter to $6.75 million. The company has significantly reduced its net loss. Investors are expecting such growth in the fourth quarter as well.