CalciMedica (NASDAQ: CALC) faces Nasdaq market value and $1 bid price breaches

Rhea-AI Filing Summary

CalciMedica, Inc. reported that Nasdaq has notified the company it no longer meets multiple continued listing standards for the Nasdaq Capital Market. The market value of its listed securities has stayed below the $35,000,000 minimum for 30 consecutive business days, triggering a 180-day cure period ending on September 9, 2026.

The company can regain compliance by meeting any of the alternatives: stockholders’ equity of at least $2,500,000, market value of listed securities of at least $35,000,000, or net income from continuing operations of $500,000 in the relevant periods. Separately, Nasdaq also notified CalciMedica that its common stock has traded below the $1.00 minimum bid price for 30 consecutive business days, starting another 180-day grace period through September 14, 2026 to restore the bid price for at least 10 consecutive business days.

The stock continues to trade on Nasdaq under the symbol CALC, but failure to regain compliance could lead to delisting. The company plans to monitor the requirements and is considering options such as a reverse stock split, while noting there is no assurance it will successfully regain or maintain compliance.

Positive

• None.

Negative

• Nasdaq compliance failures: CalciMedica received notices that it no longer meets Nasdaq’s $35,000,000 market value of listed securities standard and $1.00 minimum bid price requirement, creating a clear delisting risk if it cannot cure the deficiencies within the stated grace periods.
• Limited time to cure deficiencies: The company has only 180 calendar days from each notice—until September 9, 2026 for market value and September 14, 2026 for minimum bid price—to regain compliance or face potential delisting from the Nasdaq Capital Market.

Insights

Equity analyst

Nasdaq noncompliance notices introduce real delisting risk for CalciMedica.

CalciMedica now faces two separate Nasdaq deficiencies: market value of listed securities below $35,000,000 and a minimum bid price under $1.00 for 30 straight business days. Both trigger 180-day cure windows with specific numeric thresholds and 10-day trading requirements.

These notices matter because losing Nasdaq listing can hurt liquidity and institutional interest. The company lists potential paths back into compliance, including equity thresholds, net income targets, or restoring market value and price levels, and explicitly mentions a possible reverse stock split as a tool.

The stock currently remains on the Nasdaq Capital Market as CALC, but the text makes clear that failure to meet the criteria by September 9, 2026 and September 14, 2026 could result in delisting notices. Actual impact will depend on execution of any remedial actions and future financial performance.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

March 13, 2026

Date of Report (Date of earliest event reported)

CalciMedica, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-39538		45-2120079
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

505 Coast Boulevard South, Suite 307 La Jolla, California		92037
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (858) 952-5500

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.0001, par value per share		CALC		The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

Market Value of Listed Securities

On March 13, 2026, CalciMedica, Inc. (the “Company”) received notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not in compliance with Nasdaq’s Listing Rule 5550(b)(2), as the market value of listed securities (the “MVLS Requirement”) for the Company’s common stock had been below the minimum MVLS Requirement of $35,000,000 for the last 30 consecutive business days. Nasdaq also noted that the Company does not meet the requirements under Listing Rules 5550(b)(1) and 5550(b)(3).

Under Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days following the date of the notice, or until September 9, 2026, to regain compliance. The Company may regain compliance with Nasdaq Listing Rule 5550(b) by satisfying any of the alternative continued listing standards set forth in that rule, including: (i) maintaining stockholders’ equity of at least $2,500,000 under Nasdaq Listing Rule 5550(b)(1), (ii) maintaining a market value of listed securities of at least $35,000,000 under Nasdaq Listing Rule 5550(b)(2), or (iii) reporting net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years under Nasdaq Listing Rule 5550(b)(3). To the extent the Company seeks to regain compliance through the MVLS Requirement, the Company’s market value of listed securities must close at $35,000,000 or more for a minimum of 10 consecutive business days during the 180-day compliance period. If the Company does not regain compliance within the compliance period, the Company expects that Nasdaq would provide notice that its securities are subject to delisting from the Nasdaq Capital Market.

Minimum Bid Price

On March 16, 2026, the Company received a notice from Nasdaq that the Company is not in compliance with Nasdaq’s Listing Rule 5550(a)(2), as the minimum bid price of the Company’s common stock had been below $1.00 per share for 30 consecutive business days (the “Minimum Bid Price Requirement”).

Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days following the date of the notice, or until September 14, 2026, to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the minimum bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days during this 180-day grace period. In the event the Company does not regain compliance with the Minimum Bid Price Requirement by September 14, 2026, the Company may be eligible for an additional 180 calendar day compliance period if, on the last day of the initial compliance period, the Company meets the market value of publicly held shares requirement for continued listing as well as all other standards for initial listing of its common stock on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and provides Nasdaq written notice of its intention to cure the bid price deficiency during the second compliance period. If the Company does not indicate its intent to cure the deficiency, or if it appears to Nasdaq that it is not possible for the Company to cure the deficiency, the Company will not be eligible for the second compliance period.

The notifications of noncompliance have no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market and the Company’s common stock continues to trade on the Nasdaq Capital Market under the symbol “CALC.”

The Company intends to actively monitor the Nasdaq listing requirements and will consider available options to regain compliance with the listing requirements, including such actions as a reverse stock split.

There can be no assurance that the Company will be able to regain compliance with the with the applicable Nasdaq continued listing requirements or otherwise maintain compliance with the other listing requirements.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				CalciMedica, Inc.
Date: March 18, 2026				By:		/s/ A. Rachel Leheny, Ph.D.
				Name:		A. Rachel Leheny, Ph.D.
				Title:		Chief Executive Officer

FAQ

What Nasdaq listing issues did CalciMedica (CALC) disclose in this 8-K?

CalciMedica disclosed two Nasdaq deficiencies: market value of listed securities below $35,000,000 for 30 business days and a minimum bid price under $1.00 for 30 consecutive business days, each triggering separate 180-day compliance periods to cure the issues.

How long does CalciMedica (CALC) have to regain compliance with Nasdaq rules?

For market value of listed securities, CalciMedica has 180 days until September 9, 2026. For the minimum bid price requirement, it has 180 days until September 14, 2026. In each case, specific thresholds must be met for at least 10 consecutive business days.

What standards can CalciMedica meet to satisfy Nasdaq Listing Rule 5550(b)?

CalciMedica can regain compliance with Nasdaq Listing Rule 5550(b) by meeting one of three alternatives: stockholders’ equity of at least $2,500,000, market value of listed securities of at least $35,000,000, or net income from continuing operations of $500,000 in the specified fiscal periods.

Does CalciMedica’s stock remain listed on Nasdaq after these deficiency notices?

Yes. The company states that the noncompliance notifications have no immediate effect on listing or trading. CalciMedica’s common stock continues to trade on the Nasdaq Capital Market under the symbol CALC while it attempts to regain compliance within the allowed grace periods.

What actions might CalciMedica (CALC) take to address Nasdaq noncompliance?

CalciMedica says it intends to actively monitor the Nasdaq requirements and consider options to regain compliance. The filing specifically mentions that the company may consider a reverse stock split, though it cautions there is no assurance it will successfully restore or maintain compliance.

Could CalciMedica receive more time to fix the minimum bid price deficiency?

Yes, it may qualify for an additional 180-day period if, by September 14, 2026, it meets the market value of publicly held shares and all initial listing standards except the bid price, and provides written notice of its intention to cure the deficiency during that second period.

Filing Exhibits & Attachments

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