SCHEDULE: Soleus Entities Report 7.5% Stake in CalciMedica

Soleus Capital Management and affiliated entities disclose a combined 7.5% beneficial ownership in CalciMedica, Inc., including exercisable warrants.

Summary

• Soleus Capital Management, L.P., Soleus GP, LLC, and Guy Levy collectively report beneficial ownership of 1,075,856 shares of CalciMedica, Inc. common stock.
• This ownership represents 7.5% of CalciMedica's outstanding common stock.
• The reported shares include 391,952 presently exercisable warrants.
• The percentage is calculated based on 13,972,177 shares of common stock outstanding as of August 6, 2025, as reported in CalciMedica's Form 10-Q filed on August 12, 2025.
• Soleus Private Equity Fund III, L.P. and its related entities (Soleus Private Equity GP III, LLC, Soleus PE GP III, LLC, Soleus Capital Master Fund, L.P., Soleus Capital, LLC, Soleus Capital Group, LLC) individually report beneficial ownership of 537,928 shares, representing 3.8% of the class, which includes 195,976 presently exercisable warrants.
• The reporting persons disclaim beneficial ownership of these shares except for the purpose of Section 13(d) obligations.
• The filing is an Amendment No. 3 to a Schedule 13G.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of beneficial ownership by an institutional investor group, indicating a continued significant stake in CalciMedica, Inc. The passive nature of the investment, as stated, suggests no immediate intent to influence control.

Positives

• A significant institutional investor group maintains a substantial stake, potentially indicating confidence in the company's long-term prospects.
• The inclusion of exercisable warrants suggests a potential future increase in direct equity holdings.

Risks

• The filing itself does not introduce new risks but rather discloses an existing ownership structure. The primary risk related to this type of filing is the potential for a large block holder to influence corporate decisions, though the filing states the shares are not held for control purposes.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, which can be viewed positively as a vote of confidence or neutrally as a routine disclosure.
• Company Management: Awareness of a significant passive shareholder group.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of beneficial ownership by Soleus Capital Management and its affiliates. It confirms a significant, passive institutional stake in CalciMedica, Inc. at 7.5%. While the presence of a substantial institutional investor can be a positive signal, this filing does not contain new operational or financial information that would warrant a change in investment thesis. Therefore, a 'hold' recommendation is appropriate for investors awaiting more substantive company updates.

Keywords

CalciMedica, CMCD, Soleus Capital, institutional ownership, beneficial ownership, Schedule 13G, common stock, warrants, SEC filing, investment