CalciMedica shares fall 12.33% intraday following Nasdaq delisting notices for market value and bid price deficiencies.

CalciMedica plunged 12.33% intraday following dual Nasdaq delisting notices for failing market value ($35 million threshold) and minimum bid price ($1.00/share) requirements, triggering compliance deadlines until September 2026. The company also announced the discontinuation of its Phase 2 KOURAGE trial for lead asset Auxora due to safety concerns, prompting H.C. Wainwright to downgrade its stock to Neutral from Buy. The delisting risks and halted clinical trial, which undermines Auxora’s development timeline and raises compliance uncertainties, fueled immediate investor selling pressure. While Nasdaq trading continues under CALC, the combined regulatory and operational setbacks signal heightened liquidity and solvency risks, aligning with the sharp intraday decline.