Business Context and Reporting Period
This Form 8-K is filed by CalciMedica, Inc. on August 31, 2026, regarding listing compliance status with The Nasdaq Stock Market. The report addresses two specific listing requirements: the Market Value of Listed Securities (MVLS) and the Minimum Bid Price.
Key Financial Metrics
- Stockholders' Equity: $5,513,000 (as reported in the Form 10-Q for the quarter ended June 30, 2026).
- Market Value of Listed Securities (MVLS): Previously below the $35,000,000 minimum requirement for 30 consecutive business days.
- Minimum Bid Price: Previously below $1.00 per share for 30 consecutive business days.
- Capital Structure Action: A one-for-five reverse stock split was implemented on August 28, 2026.
Material Changes and Compliance Status
Market Value of Listed Securities (MVLS)
The Company received a notice of non-compliance on March 13, 2026, due to MVLS falling below $35,000,000. On August 31, 2026, Nasdaq staff determined the Company now complies with the alternative minimum stockholders' equity requirement (Rule 5550(b)(1)). Consequently, the MVLS non-compliance notice is closed.
Minimum Bid Price
The Company remains non-compliant with the Minimum Bid Price Requirement (Rule 5550(a)(2)) as of the filing date. Despite the one-for-five reverse stock split executed on August 28, 2026, the Company has not yet regained compliance. The deadline to regain compliance is September 14, 2026.
Outlook, Risks, and Management Commentary
- Compliance Risk: Management states there can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement or maintain other listing requirements.
- Delisting Risk: Failure to meet the Minimum Bid Price requirement by September 14, 2026, could result in delisting from The Nasdaq Capital Market.
- Management Action: The reverse stock split was a strategic move intended to address the Minimum Bid Price deficiency.
Investor Verification Checklist
- Verify the current trading price of CALC post-split to assess if the $1.00 minimum bid price threshold has been met.
- Confirm the exact date by which Nasdaq will make a final determination on the Minimum Bid Price compliance (deadline: September 14, 2026).
- Review the Form 10-Q for the quarter ended June 30, 2026, to validate the $5,513,000 stockholders' equity figure used for the MVLS alternative compliance.
- Monitor for any further 8-K filings regarding potential delisting proceedings if the September 14 deadline is missed.