CALITHERA BIOSCIENCES INC - CALA STOCK NEWS

Calithera Biosciences (Nasdaq: CALA) announced plans to dissolve and liquidate its assets after failing to find strategic alternatives to enhance shareholder value. The Board of Directors approved a Plan of Complete Liquidation, which will be presented to shareholders for approval in early 2023. This decision entails ceasing clinical development, significantly reducing its workforce, and winding down operations. Following the dissolution, Calithera expects that common stockholders will likely not receive any liquidating distributions due to the liquidation preference held by Series A convertible preferred stockholders.

Calithera Biosciences (CALA) reported its Q3 2022 financial results, indicating cash reserves of $34.1 million, sufficient to fund operations into Q2 2023. The company received FDA Fast Track designation for its drug sapanisertib, aimed at treating sqNSCLC with NRF2 mutations. However, delays in site activation for clinical trials of sapanisertib and mivavotinib have slowed patient enrollment, pushing initial data availability to mid-2023. R&D expenses decreased to $6.5 million, while general administrative costs fell to $3.0 million, leading to a net loss of $9.8 million for the quarter.

Calithera Biosciences (CALA) will release its third quarter financial results on November 14, 2022. A conference call with management will follow at 2:00 PM PT to discuss these results and recent corporate developments. Calithera focuses on developing targeted therapies for cancer treatment, aiming to address significant unmet needs in this area. The company emphasizes a biomarker-driven approach to create small-molecule oncology compounds, aiming to assist patients with limited treatment options.

Calithera Biosciences has announced that the FDA granted Fast Track designation for its investigational mTORC1/2 inhibitor sapanisertib targeting squamous non-small cell lung cancer (sqNSCLC) with NRF2 mutations. This designation aims to expedite development for patients with unmet medical needs after prior treatments.

Currently, a Phase 2 study is ongoing, showing a 27% overall response rate and median progression-free survival of 8.9 months in heavily pretreated patients. The results aim to position sapanisertib as a first-in-class therapeutic option for this patient population.

Calithera Biosciences, a clinical-stage precision oncology biopharmaceutical company, announced that Dr. Susan Molineaux, its CEO, will present at the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. The presentation will be available for on-demand viewing starting September 12 at 7:00 a.m. ET via the company’s website. Calithera focuses on targeted therapies for cancer, particularly for patients with limited treatment options. They aim to develop investigational oncology compounds that target genetic vulnerabilities in cancer cells.

Calithera Biosciences (CALA) reported its Q2 2022 financial results, highlighting its commitment to advancing clinical programs. The company initiated two new clinical trials for mivavotinib and sapanisertib, targeting specific cancer populations. Financially, cash and equivalents reached $41.8 million, with R&D expenses down to $7.8 million. The net loss stood at $9.1 million. Calithera plans to share trial data in early 2023, with a focus on providing updates on its VPS4 program by year-end.

Calithera Biosciences (CALA) announced that its second quarter 2022 financial results will be released on August 15, 2022. The management will host a conference call at 2:00 PM PT to discuss the results and recent corporate highlights. The conference call can be accessed through their website. Calithera is focusing on developing targeted therapies for cancer patients, emphasizing a biomarker-driven approach to treat aggressive cancers.

Calithera Biosciences (CALA) announced updates on its clinical trials for mivavotinib and sapanisertib, to be presented at the IASLC 2022 World Conference on Lung Cancer and the 2022 Pan Pacific Lymphoma Conference. Mivavotinib, a SYK inhibitor, is being evaluated in a phase 2 study for relapsed/refractory non-GCB DLBCL, while sapanisertib is tested in combination with telaglenastat for non-small cell lung cancer. The trials aim to assess safety, efficacy, and potential first-in-class status for these therapies.