Headline: CalciMedica Announces Positive Phase 2 Results for CMM-01, Shares Surge 18% on Trial Data

CalciMedica Inc. (NASDAQ: CMMI) reported positive top-line results from its Phase 2 clinical trial of CMM-01, a novel therapy for hypercalcemia, on January 21, 2026. The trial met its primary endpoint with a statistically significant reduction in serum calcium levels at Day 14 compared to placebo (p < 0.001). The company said the treatment was well-tolerated, with no serious adverse events reported. The data prompted a 18% jump in CMMI shares by midday trading. CalciMedica plans to initiate a Phase 3 trial in Q2 2026, targeting FDA submission by late 2027. With an estimated $2.1 billion addressable market for hypercalcemia treatments, analysts at Evercore ISI upgraded the stock to “Outperform” and set a $12.50 price target, citing strong differentiation in mechanism of action.