Taking Profit with CALA! (NASDAQ: CALA)

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Calithera Biosciences, Inc.(NASDAQ: CALA)

Taking Profit with CALA!

On Thursday 5/7/15, CALA appeared to buck its long running downwards trend (since mid December 2014 to date) in that the stock opened at 9.07 to reach a high of the day of 9.98 after 445,000 in volume was traded.


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The upswing continued into Friday 5/8/15, when CALA opened 10.50 to reach a high of 14.06 and closed at 13.87 after 4.55M in volume was traded; representing an impressive +4.35 (45.69%) change over previous close. Market Cap was $248.91M

 

All indications point to positive response to the Q1 2015 financial results announced by CALA on May 7th. As of March 31, 2015; cash, cash equivalents and investments totalled $94.3 million. “During the first quarter, we continued to advance and expand our development pipeline,” said Susan Molineaux, PhD, CEO of Calithera.

 

To get an informed sense of the fundamentals underpinning the CALA stock at the moment, I referred to the selected statements of operations financial data (in thousands) released by Calithera Biosciences, Inc.


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My overall assessment of the financial picture in respect of CALA is neutral based on the rationale that the total operating expenses had increased from $ (4,150) to (7,867) resulting in Net loss of $ (4,149) to $ (7,858) from March 31, 2014 to March 31, 2015.

With reference to the balance sheet data for the period December 31, 2014 to March 31, 2015; the Cash, cash equivalents and investments had reduced from $ 101,969 (2014) to $ 94,275 (2015); the accumulated deficit had increased from (51,854) to (59,712) respectively and the total stockholders’ equity decreased from 100,366 (2014) to 93,104 (2015).

 

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