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Stock-based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Transations | The following table summarizes the stock option transactions for the 2023 Plan:
|  | Total Options |  |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at December 31, 2024 |  |  | 2,824,443 |  |  | $ |  | 5.51 |  |  |  | 8.15 |  |  | $ |  | 210 |
Granted |  |  | 35,000 |  |  |  |  | 2.77 |  |  |  | 9.83 |  |  |  |  | — |
Cancelled |  |  | (13,889 | ) |  |  |  | 3.58 |  |  |  | — |  |  |  |  | — |
Outstanding at March 31, 2025 |  |  | 2,845,554 |  |  | $ |  | 5.48 |  |  |  | 7.84 |  |  | $ |  | 2 |
Vested and exercisable at March 31, 2025 |  |  | 1,497,856 |  |  | $ |  | 6.32 |  |  |  | 6.87 |  |  | $ |  | 2 |
Schedule of Assumptions Using Black-Scholes to Estimate Fair Value of the Stock Option Grants | The following are the underlying assumptions in Black-Scholes to determine the fair value of the stock option grants for the three months ended March 31, 2025 and 2024:
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
Risk free interest rate |  | 3.16% |  | 2.94%
Expected volatility |  | 97% |  | 89%
Expected term (years) |  | 6.01 |  | 6.25
Expected dividend yield |  | 0% |  | 0%
Summary of Restricted Stock Units (RSU) Activity | The following table summarizes restricted stock unit activity for the CalciMedica Plans:
|  | Number of Restricted Stock Units |  |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2024 |  |  | 40,000 |  |  | $ |  | 3.50 |
Outstanding at March 31, 2025 |  |  | 40,000 |  |  | $ |  | 3.50 |
Vested and exercisable at March 31, 2025 |  |  | — |  |  | $ |  | — |
Summary of Stock-Based Compensation Expense Recognized for Options and RSUs Granted | Stock-based compensation expense recognized for options and restricted stock units granted was as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Research and development |  | $ | 177 |  |  | $ | 171 |
General and administrative |  |  | 372 |  |  |  | 243 |
Total stock-based compensation expense |  | $ | 549 |  |  | $ | 414 |
Schedule of Common Stock Reserved for Future Issuance | Common stock reserved for future issuance consists of the following at March 31, 2025:
|  | March 31, |
|  | 2025 |
Common stock warrants |  |  | 3,993,784 |
Stock options issued and outstanding |  |  | 2,845,554 |
Restricted stock units outstanding |  |  | 40,000 |
Shares available for issuance under the 2023 Plan |  |  | 1,473,250 |
Shares available under the 2023 ESPP |  |  | 257,364 |
Total |  |  | 8,609,952 |

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