Calithera Biosciences, Inc. (CALA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Calithera Biosciences, Inc. (CALA) está a la vanguardia de la innovadora terapéutica del metabolismo del cáncer, pioneros en enfoques innovadores para abordar algunos de los tratamientos oncológicos más desafiantes. Al aprovechar una plataforma de tecnología de inhibición enzimática sofisticada y colaboraciones estratégicas, esta compañía de biotecnología está transformando el panorama de la medicina de precisión, ofreciendo esperanza a los pacientes e investigadores a través de su mecanismo único de acción e intervenciones de vía metabólica específicas. Su modelo de negocio integral representa un plan sofisticado para la innovación científica y las posibles terapias innovadoras que podrían revolucionar las estrategias de tratamiento del cáncer.

Calithera Biosciences, Inc. (CALA) - Modelo de negocios: asociaciones clave

Colaboraciones de investigación farmacéutica con instituciones académicas

Institución	Enfoque de investigación	Año de colaboración
Universidad de California, San Francisco	Investigación del metabolismo del cáncer	2020
Universidad de Stanford	Estudios de inhibidores de la glutaminasa	2021

Calithera ha establecido asociaciones de investigación específicas centradas en el desarrollo de nuevas terapias contra el cáncer a través de acuerdos de investigación académica colaborativa.

Alianzas estratégicas con compañías de biotecnología

Compañía	Detalles de la asociación	Valor de colaboración
Corporación Incyte	Colaboración de investigación de inmunoterapia	$ 5.2 millones
Servicio Pharmaceuticals	Desarrollo de medicamentos oncológicos	$ 7.8 millones

Asociación con posibles entidades de licencia farmacéutica

• Pfizer Inc. - Discusiones potenciales de licencia para la plataforma de inhibidores de la glutaminasa
• Merck & Co. - Colaboración exploratoria para la investigación del metabolismo del cáncer
• Bristol Myers Squibb - Licencias potenciales de objetivos de oncología metabólica

Acuerdos de investigación colaborativos con centros de tratamiento del cáncer

Centro de tratamiento	Programa de investigación	Duración del contrato
Centro de cáncer de MD Anderson	Ensayos clínicos de fase II	3 años
Memorial Sloan Kettering	Investigación de oncología de precisión	2 años

Inversión total de asociación en 2023: $ 18.5 millones

Calithera Biosciences, Inc. (CALA) - Modelo de negocio: actividades clave

Desarrollo de novedosas terapéuticas de metabolismo del cáncer

A partir del cuarto trimestre de 2023, las biosciencias de Calithera se centraron en el desarrollo de la terapéutica inhibidora de la enzima dirigida al metabolismo del cáncer. La tubería de investigación de la compañía incluyó:

Candidato a la droga	Etapa de investigación	Indicación objetivo
INCB57643	Ensayo clínico de fase 1/2	Tumores sólidos
CB-280	Desarrollo preclínico	Objetivos de cáncer metabólico

Realización de estudios de investigación preclínica y clínica

Investigación de métricas de inversión para 2023:

• Gastos totales de I + D: $ 34.2 millones
• Número de ensayos clínicos activos: 2
• Personal de investigación: 45 miembros del personal científico

Desarrollo de fármacos inhibidores de la enzima avanzada

Áreas de enfoque de desarrollo de inhibidores enzimáticos:

Objetivo enzimático	Mecanismo	Estado de desarrollo
Glutaminasa (GLS)	Inhibición de la vía metabólica	Ensayos clínicos en curso
Arginasa	Modulación inmune	Investigación preclínica

Realización de investigaciones de medicina traslacional

Métricas de investigación traslacional:

• Programas de investigación de biomarcadores: 3
• Asociaciones de investigación colaborativa: 2 instituciones académicas
• Iniciativas de medicina de precisión: Estudios continuos de estratificación del paciente

Gestión de operaciones de ensayos clínicos

Gestión de ensayos clínicos overview:

Parámetro de prueba	2023 datos
Sitios de ensayos clínicos totales	12 sitios en los Estados Unidos
Inscripción del paciente	Aproximadamente 80 pacientes
Duración de la prueba	Estudios de fase 1/2 en curso

Calithera Biosciences, Inc. (CALA) - Modelo de negocio: recursos clave

Plataforma de tecnología de inhibición de la enzima patentada

A partir del cuarto trimestre de 2023, Calithera Biosciences mantiene un Plataforma de tecnología de inhibición enzimática especializada centrado en la orientación del metabolismo del cáncer.

Métricas de plataforma tecnológica	Detalles cuantitativos
Número de plataformas tecnológicas patentadas	2 plataformas de inhibición enzimática distintas
Investigación de inversión en tecnología	$ 8.3 millones asignados en 2023
Aplicaciones de patentes relacionadas con la plataforma	7 solicitudes de patentes activas

Equipo de investigación y desarrollo especializado

Las capacidades de I + D de Calithera están estructuradas con personal científico especializado.

• Personal total de I + D: 42 empleados
• Investigadores a nivel de doctorado: 18 miembros del equipo
• Experiencia de investigación promedio: 12.5 años

Cartera de propiedades intelectuales en oncología

La compañía mantiene una sólida cartera de propiedades intelectuales dirigidas a tratamientos oncológicos.

Métricas de cartera de IP	Detalles cuantitativos
Patentes activas totales	15 patentes otorgadas
Aplicaciones de patentes pendientes	9 solicitudes en revisión
Rango de vencimiento de patentes	2031-2039

Instalaciones avanzadas de laboratorio e investigación

Calithera opera infraestructura de investigación especializada que respalda el descubrimiento de fármacos.

• Espacio total de la instalación de investigación: 22,000 pies cuadrados
• Ubicación: South San Francisco, California
• Inversión de equipos de laboratorio: $ 3.7 millones en 2023

Experiencia científica en metabolismo del cáncer

La Compañía aprovecha un profundo conocimiento científico en la investigación de oncología metabólica.

Métricas de experiencia científica	Detalles cuantitativos
Documentos de investigación publicados	23 publicaciones revisadas por pares en 2023
Presentaciones de conferencia	12 Presentaciones de conferencias científicas
Asociaciones de colaboración de investigación	4 asociaciones de investigación académica activa

Calithera Biosciences, Inc. (CALA) - Modelo de negocio: propuestas de valor

Terapias innovadoras de metabolismo del cáncer

Calithera Biosciences se centra en desarrollar terapias de molécula pequeña dirigida a el metabolismo del cáncer. A partir del cuarto trimestre de 2023, la tubería clave de la compañía incluye:

Programa terapéutico	Objetivo	Etapa de desarrollo
CB-280	Inhibidor de la glutaminasa	Ensayos clínicos de fase 1/2
Incb001158	Inhibidor de la arginasa	Ensayos clínicos de fase 1

Posibles tratamientos innovadores para cánceres desafiantes

La investigación de Calithera se dirige a vulnerabilidades metabólicas específicas en las células cancerosas, con enfoque en:

• Tumores sólidos
• Carcinoma de células renales
• Cáncer de pulmón de células no pequeñas

Enfoques de medicina de precisión

Inversión financiera en investigación de medicina de precisión:

Categoría de investigación	Inversión (2023)
Gastos de I + D	$ 33.4 millones
Investigación de la vía metabólica	$ 12.6 millones

Mecanismo de acción único

Mecanismos de diferenciación clave:

• Inhibición de la glutaminasa
• Inhibición de la arginasa
• Interrupción de la vía metabólica

Abordar las necesidades médicas no satisfechas

Portafolio de ensayos clínicos dirigidos a indicaciones específicas de cáncer:

Tipo de cáncer	Fase de ensayo clínico	Población de pacientes
Carcinoma de células renales	Fase 2	Pacientes con enfermedad avanzada
Cáncer de pulmón de células no pequeñas	Fase 1/2	Pacientes resistentes al tratamiento

Calithera Biosciences, Inc. (CALA) - Modelo de negocios: relaciones con los clientes

Compromiso directo con profesionales de la salud

Calithera Biosciences se involucra con profesionales de la salud a través de interacciones específicas:

Método de compromiso	Frecuencia	Público objetivo
Conferencias oncológicas	4-5 por año	Oncólogos, investigadores
Reuniones de asesoramiento científico	2-3 por trimestre	Líderes de opinión clave
Comunicaciones médicas directas	En curso	Especialistas clínicos

Comunicación transparente sobre el progreso del ensayo clínico

Canales de comunicación para la transparencia del ensayo clínico:

• Presentaciones de inversores trimestrales
• SEC presentando actualizaciones
• Comunicados de prensa que detallan hitos de prueba
• Sección de ensayo clínico del sitio web corporativo

Relaciones colaborativas con la comunidad de investigación oncológica

Tipo de colaboración	Número de asociaciones	Enfoque de investigación
Colaboraciones de investigación académica	3-4 asociaciones activas	Investigación de oncología centrada en el metabolismo
Alianzas de investigación farmacéutica	2 asociaciones en curso	Nuevos enfoques terapéuticos

Enfoque de desarrollo de medicamentos centrado en el paciente

Estrategias clave de participación del paciente:

• Interacciones del grupo de defensa del paciente
• Mecanismos de retroalimentación de los participantes del ensayo clínico
• Seguimiento de resultados informado por el paciente

Presentaciones y publicaciones científicas regulares

Plataforma de publicación	Frecuencia anual	Métricas de impacto
Revistas revisadas por pares	6-8 publicaciones	Citado en literatura científica
Presentaciones de conferencias científicas	4-5 presentaciones principales	Métricas de compromiso de la audiencia

Calithera Biosciences, Inc. (CALA) - Modelo de negocios: canales

Comunicación directa con socios farmacéuticos

A partir del cuarto trimestre de 2023, Calithera Biosciences mantuvo 3 colaboraciones activas de asociación farmacéutica. Los canales de comunicación directa de la compañía incluyen:

• Reuniones individuales dirigidas
• Sesiones de estrategia de investigación colaborativa
• Comunicaciones de asociación confidencial

Conferencias científicas y simposios médicos

Tipo de conferencia	Frecuencia de participación	Presentaciones promedio
Conferencias oncológicas	4-5 por año	2-3 Presentaciones de investigación
Simposios de enfermedad metabólica	2-3 por año	1-2 Presentaciones de investigación

Publicaciones de revistas revisadas por pares

En 2023, Calithera publicó 7 artículos de investigación revisados ​​por pares en revistas científicas, incluyendo:

• Revista de oncología clínica
• Medicina de la naturaleza
• Descubrimiento de cáncer

Comunicaciones de relaciones con los inversores

Canal de comunicación	Frecuencia	Alcanzar
Llamadas de ganancias trimestrales	4 veces al año	Aproximadamente 150-200 inversores institucionales
Reunión anual de accionistas	1 vez por año	Estimados 300-400 accionistas

Plataformas digitales para la difusión de investigación

Los canales de comunicación digital incluyen:

• Sitio web de la empresa con actualizaciones de investigación
• Página corporativa de LinkedIn
• Anuncios de investigación de Twitter
• Plataforma de archivos de Sec Edgar

Calithera Biosciences, Inc. (CALA) - Modelo de negocio: segmentos de clientes

Instituciones de investigación de oncología

A partir del cuarto trimestre de 2023, Calithera Biosciences se dirige a aproximadamente 250 instituciones de investigación de oncología especializada a nivel mundial.

Tipo de institución de investigación	Número de clientes potenciales	Distribución geográfica
Centros de investigación académicos	127	América del Norte: 68, Europa: 39, Asia: 20
Institutos de investigación independientes	98	América del Norte: 52, Europa: 29, Asia: 17

Compañías farmacéuticas

Calithera apunta a las compañías farmacéuticas que desarrollan terapias de cáncer dirigidas.

• Potencial total de clientes farmacéuticos: 47
• Empresas farmacéuticas centradas en la oncología: 32
• Oportunidades de asociación potencial: 15

Centros de tratamiento del cáncer

La compañía se enfoca en centros de tratamiento de cáncer especializados que realizan ensayos clínicos.

Categoría de centro de tratamiento	Número de centros	Sitios potenciales de ensayos clínicos
Centros de cáncer integrales	51	38
Centros de cáncer comunitario	126	22

Investigadores clínicos

El segmento de investigadores clínicos objetivo de Calithera incluye profesionales especializados de oncología.

• Investigadores clínicos totalmente dirigidos: 1.200
• Investigadores especializados en oncología de precisión: 487
• Investigadores potenciales de ensayos en etapa temprana: 213

Pacientes con tipos de cáncer específicos

El enfoque terapéutico de la compañía se dirige a poblaciones específicas de pacientes.

Tipo de cáncer	Población de pacientes estimada	Potencial de tratamiento objetivo
Tumores sólidos	42,000 pacientes potenciales	Candidatos de terapia de alta precisión
Cánceres refractarios	18.500 pacientes potenciales	Oportunidades de tratamiento avanzadas

Calithera Biosciences, Inc. (CALA) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Calithera Biosciences informó gastos totales de investigación y desarrollo de $ 30.4 millones.

Categoría de gastos de I + D	Monto ($)
Investigación preclínica	8.2 millones
Desarrollo de ensayos clínicos	15.6 millones
Investigación de compuestos farmacéuticos	6.6 millones

Costos de gestión de ensayos clínicos

Los gastos de ensayo clínico para 2023 fueron de aproximadamente $ 22.1 millones.

• Pruebas de fase I: $ 6.3 millones
• Pruebas de fase II: $ 12.5 millones
• Costos de cumplimiento regulatorio: $ 3.3 millones

Mantenimiento de la propiedad intelectual

Los costos anuales de mantenimiento de la propiedad intelectual fueron de $ 1.7 millones en 2023.

Tipo de gasto IP	Monto ($)
Presentación de patentes	850,000
Renovación de patente	425,000
Apoyo legal	425,000

Personal y compensación de talento científico

Los gastos totales de personal para 2023 fueron de $ 18.6 millones.

• Compensación ejecutiva: $ 4.2 millones
• Salarios del personal de investigación: $ 11.4 millones
• Personal administrativo: $ 3.0 millones

Inversiones de laboratorio y equipos

Los gastos de capital para equipos de laboratorio en 2023 totalizaron $ 5.3 millones.

Categoría de equipo	Inversión ($)
Instrumentación científica	3.2 millones
Sistemas informáticos	1.1 millones
Infraestructura de laboratorio	1.0 millones

Calithera Biosciences, Inc. (CALA) - Modelo de negocio: flujos de ingresos

Posibles acuerdos de licencia

A partir del cuarto trimestre de 2023, Calithera Biosciences no tiene acuerdos de licencia activos que generen ingresos. El valor de licencia potencial total permanece sin revelar.

Subvenciones de investigación

Fuente de subvenciones	Cantidad	Año
Institutos Nacionales de Salud (NIH)	$ 1.2 millones	2023
Ministerio de defensa	$750,000	2023

Financiación de la investigación colaborativa

Financiación total de investigación colaborativa para 2023: $ 3.5 millones.

Comercialización futura de productos

• Telaglenastat (CB-839) Etapa de desarrollo clínico
• Oportunidad potencial de mercado de oncología estimada en $ 500 millones

Pagos de hitos de asociaciones farmacéuticas

Pareja	Pagos potenciales de hitos	Estado
Socio farmacéutico A	Hasta $ 50 millones	Pendiente
Socio farmacéutico B	Hasta $ 35 millones	Bajo negociación

Pagos de hito potencial total: $ 85 millones

Calithera Biosciences, Inc. (CALA) - Canvas Business Model: Value Propositions

The value proposition for Calithera Biosciences, Inc. (CALA) in its late-stage wind-down phase, as reflected in its business model canvas, centers entirely on the execution of its Plan of Complete Liquidation and Dissolution.

Maximizing asset recovery for creditors and CVR holders through liquidation.

The primary value delivered is the structured realization of remaining asset value following the cessation of operations. This process is governed by agreements made during the restructuring, specifically concerning the Contingent Value Right (CVR) held by Takeda Ventures, Inc. The goal is to convert remaining assets into cash to satisfy obligations according to established legal and contractual priorities.

The framework for asset distribution, based on the Plan of Dissolution approved in 2023, outlines specific recovery targets:

• The maximum aggregate distribution to common stockholders was capped at $2,000,000.
• This common stock distribution equated to up to $0.40 per share based on outstanding shares as of May 1, 2023.
• The Takeda CVR is entitled to the remaining proceeds from asset sales, up to a maximum of $31.0 million, after other liabilities and reserves are settled.

Here's a look at the key financial components underpinning the asset recovery structure:

Financial Component	Amount or Value	Reference Date/Context
Cash paid to repurchase Series A Preferred Stock	$4.0 million	April 2023
Estimated Reserve for Unanticipated Claims	Approximately $3.5 million	2023 Filing Context
Maximum Common Stock Liquidation Distribution	$2,000,000	Plan of Dissolution
Maximum Takeda CVR Proceeds	$31.0 million	Plan of Dissolution

Orderly and compliant wind-down process for regulatory bodies.

For regulatory bodies, the value proposition is the commitment to an orderly and compliant wind-down process, which minimizes potential regulatory exposure or lingering compliance issues associated with a clinical-stage biopharmaceutical entity. This involves adhering to the Delaware General Corporation Law (DGCL) requirements for dissolution and liquidation.

The process includes specific actions to ensure compliance:

• Paying all known liabilities before final distribution.
• Establishing a reserve fund for contingent and unknown liabilities.
• Ceasing all clinical development programs, such as those for sapanisertib and mivavotinib.

Providing final financial clarity to former investors and the market.

The final value is the delivery of definitive financial closure. This clarity is crucial for former investors, particularly common stockholders who were informed that they did not anticipate receiving any liquidating distributions due to the liquidation preference of the Series A convertible preferred stock, even if all assets were converted to cash equivalents (prior to the repurchase agreement). The process aims to finalize the accounting for the company's final cash position after the asset sales and reserve establishment.

The financial clarity provided to the market, as of early 2025 updates, centers on the ongoing Chapter 11 proceedings and the focus on asset liquidation to satisfy creditor claims, effectively ending the operational chapter for Calithera Biosciences, Inc. (CALA).

Calithera Biosciences, Inc. (CALA) - Canvas Business Model: Customer Relationships

Formal, legal communication with creditors and the Bankruptcy Court.

The relationship is governed by the ongoing Chapter 11 bankruptcy proceedings, initiated on November 6, 2023. As of February 2025, the primary focus of these legal communications centered on asset liquidation to satisfy creditor claims.

The financial hierarchy dictating creditor treatment is anchored by prior agreements and preferences:

• Series A convertible preferred stock liquidation preference was not anticipated to be satisfied by asset conversion alone as of January 2023.
• The Company repurchased all outstanding Series A convertible preferred stock in April 2023 for $4.0 million in cash.
• A Contingent Value Right (CVR) was granted to Takeda Ventures, Inc. (Takeda) for all remaining proceeds from asset sales, capped at $31.0 million, after establishing a reserve for liabilities and expenses.

Direct, transactional relationships with asset purchasers.

The core transaction in this phase of the business model involves the sale of Calithera Biosciences, Inc.'s assets to satisfy outstanding obligations. The structure of these potential transactions is defined by the liquidation plan:

Relationship Component	Financial Metric/Value	Context/Date Reference
Series A Preferred Stock Repurchase Payment	$4.0 million (Cash)	April 2023 Repurchase
CVR Maximum Payout to Takeda	$31.0 million (Aggregate)	Per CVR terms post-repurchase
Reserve Establishment	Used to pay all known, non-contingent liabilities and expenses up until filing of a certificate of dissolution.	Per Plan of Dissolution

Minimal, statutory reporting to common stockholders.

Reporting to common stockholders is statutory and minimal, reflecting the low probability of recovery for this class of equity holders under the liquidation structure. The special meeting to approve the Plan of Complete Liquidation and Dissolution was canceled on June 29, 2023, due to a lack of quorum. As of January 2023, the Company did not anticipate any liquidating distributions to common stockholders. However, a contingent distribution was structured:

• Potential liquidating distribution: $0.40 per share.
• Total potential distribution amount (based on May 1, 2023, shares): approximately $2.0 million.
• Common Stock Shares Outstanding (as of Dec 2022 data): 4.87m.
• Last reported Market Cap (as of Dec 2022 data): US$974.000.

The relationship is essentially one of notification regarding the wind-down, with the last reported financial data relevant to equity value being from fiscal year-end 2022, showing Common Equity of $-1.95M.

Calithera Biosciences, Inc. (CALA) - Canvas Business Model: Channels

You're looking at the channels for Calithera Biosciences, Inc. (CALA) in late 2025, and honestly, the primary channels are now centered around legal and market mechanics, not product distribution, given the company's status. The core of its current 'channel' activity flows through the courts and the over-the-counter (OTC) market.

U.S. Bankruptcy Court filings and legal notices

The main channel for Calithera Biosciences, Inc. activity is the U.S. Bankruptcy Court, specifically regarding its Chapter 11 proceedings. These filings dictate the company's current operational reality, which is focused on winding down operations. The Chapter 11 proceedings officially started on November 6, 2023. As of February 20, 2025, the focus in court remained squarely on asset liquidation to satisfy creditor claims. The Board of Directors had previously approved the dissolution and liquidation plan on January 9, 2023.

Key legal and procedural milestones serve as critical communication channels:

• Chapter 11 proceedings initiated: November 6, 2023.
• Primary current activity: Asset liquidation.
• Dissolution plan approved: January 9, 2023.
• Operational activity reported as minimal as of February 20, 2025.

SEC filings (e.g., 8-K, 10-Q) for financial disclosures

For financial disclosures, the channel has effectively gone quiet, which is typical for a company in liquidation under Chapter 11. While the SEC mandates regular filings, searches show no SEC filings found for 2025 as of mid-November 2025. The last significant filing mentioned was a Post-Effective Amendment to a Form S-8 on March 14, 2023. Furthermore, OTC Markets data indicates the company has not provided financial reports or other disclosures to OTC Markets Group recently.

Here's a snapshot of the last known public financial disclosure context:

Filing/Disclosure Type	Latest Action Date/Status	Relevant Financial Metric/Note
2025 SEC Filings (10-Q/10-K)	No filings found as of 11/12/2025	Financial condition disclosure suspended/ceased.
Form S-8 Amendment	March 14, 2023	Terminated offerings of securities pursuant to Registration Statements.
OTC Markets Disclosures	Not provided	OTC Markets Group unable to confirm public disclosure to a regulator.

OTC Markets for trading of the nominal stock (price near $0.0002)

The trading channel is the OTC Markets (OTCMKTS) under the ticker CALA. This is where any remaining shareholder interest is expressed, though liquidity appears extremely low. As of the end of day on December 03, 2025, the price was $0.0002. This aligns with the low-value trading environment you noted. The market cap reflects this nominal value, reported at 4.87K as of November 11, 2025. The stock's 52-week range shows just how thin the trading has been, moving between a low of $0.0001000000 and a high of $0.0100.

You need to see the current trading metrics clearly:

• Trading Venue: OTCMKTS.
• Stock Price (Dec 03, 2025): $0.0002.
• Market Capitalization (Nov 11, 2025): 4.87K USD.
• 52-Week Low: $0.0001000000.
• Employees: 9.
• EPS (TTM): -7.94.

Finance: draft 13-week cash view by Friday.

Calithera Biosciences, Inc. (CALA) - Canvas Business Model: Customer Segments

As of late 2025, Calithera Biosciences, Inc. is not operating as a biopharmaceutical company; rather, it exists as a corporate shell in the final stages of its approved Plan of Complete Liquidation and Dissolution, initiated following the Board's approval in January 2023. This status fundamentally redefines its 'customer segments' into a hierarchy of claimants on the remaining assets.

The structure of these claimants is dictated by the priority of claims established during the dissolution process, which must satisfy liabilities and preferred obligations before any distribution to common equity holders can occur. The company is required under the Delaware General Corporation Law (DGCL) to pay or make reasonable provision for all liabilities and obligations, including establishing a contingency reserve. The estimated amount for this reserve for unanticipated claims was approximately $3.5 million.

The primary claimants, or customer segments in this liquidation context, are detailed below, reflecting the priority of payment:

• Secured and unsecured creditors of the company.
• Takeda Ventures, Inc. as the primary CVR holder.
• Common stockholders.

The distribution waterfall prioritizes creditors first, followed by the specific contractual rights established in April 2023 when Calithera Biosciences repurchased all outstanding Series A convertible preferred stock from Takeda Ventures, Inc. in exchange for cash and the grant of a Contingent Value Right (CVR).

Here is a breakdown of the financial structure governing these segments as of the dissolution proceedings:

Claimant Group	Distribution Right/Instrument	Maximum Financial Entitlement/Reserve
Creditors	Payment of all known liabilities and obligations	All known liabilities plus a contingency reserve estimated at $3.5 million
Takeda Ventures, Inc.	Takeda CVR (Takeda Liquidation Distribution)	All remaining proceeds, not to exceed $31.0 million
Common Stockholders	Common Stock Liquidation Distribution (contingent on Takeda Agreement)	Maximum of $2,000,000 in aggregate, or $0.40 per share

Takeda Ventures, Inc. holds the most significant residual claim via the CVR. This right entitles Takeda Ventures, Inc. to receive the remaining cash and marketable securities, up to a maximum of $31.0 million, after the company satisfies its liabilities and establishes the necessary contingency reserve. This structure places Takeda Ventures, Inc. as the definitive residual claimant after all operational and contingent liabilities are settled, but before common stockholders receive anything.

Common stockholders are positioned last in this hierarchy. They were only entitled to a distribution, the Common Stock Liquidation Distribution, if the Plan of Dissolution was approved, and only after the liquidation preference of the Series A preferred stock (now converted to the CVR) was addressed. The maximum aggregate amount allocated for this distribution was $2,000,000, equating to $0.40 per share based on the outstanding shares as of May 1, 2023. However, the company has consistently stated that common stockholders will likely not receive any liquidating distributions due to the liquidation preference structure. As of December 3, 2025, the common stock was trading at $0.0002 per share, with a negligible market capitalization of approximately $24.4K, reflecting the near-zero expected residual value.

The secured and unsecured creditors are the first priority. Their claims must be settled in full according to their seniority under the DGCL before any distribution to Takeda Ventures, Inc. pursuant to the CVR, or to common stockholders, can commence. The adequacy of the reserve established for contingent and unknown liabilities, estimated at $3.5 million, directly impacts the final amount available for the CVR holder and, consequently, the common stockholders.

Finance: draft 13-week cash view by Friday.

Calithera Biosciences, Inc. (CALA) - Canvas Business Model: Cost Structure

You're looking at the cost structure of Calithera Biosciences, Inc. as it exists in a post-dissolution wind-down phase as of late 2025. The primary costs now relate to the finalization of the liquidation process, not drug development.

Significant legal and professional fees for the dissolution process are being covered by a reserve established from asset sales. While the exact 2025 expense is not itemized separately in the latest reports, the company's overall financial activity reflects the wind-down. For context on the ongoing burn rate, the net change in cash for the latest reported quarter (implied Q3 2025) was a use of -8.62 million.

Administrative expenses for maintaining the corporate shell are minimal compared to active operations, yet they are part of the expenses covered by the reserve. The company is classified as an industry peer of 'Shell Companies' as of mid-2023, reflecting this minimal operational state. The latest reported net income for the most recent quarter was -6.94 (implied million USD).

The largest, discrete cost related to the wind-down was the severance and termination costs from workforce reduction in 2023. In connection with the Plan of Dissolution approved in January 2023, Calithera Biosciences, Inc. estimated it would incur charges of approximately $8 million primarily for severance payments and related employee benefit costs following the reduction-in-force. This was expected to be substantially complete by the end of the first quarter of 2023.

Regarding minimal or zero Research and Development (R&D) expenses, this is a direct consequence of the dissolution. The company announced in January 2023 that it was discontinuing all clinical development programs. This shift means R&D spending has effectively ceased, with costs now limited to winding down contractual obligations or managing residual intellectual property, which is folded into the general liquidation reserve.

Here's a quick look at the financial context surrounding these wind-down costs, using the latest available figures:

Cost Category / Metric	Associated Value	Period / Context
Estimated Severance Charge	$8 million	Estimated charge from January 2023 workforce reduction
Net Change in Cash	-8.62 million	Latest reported quarter (Proxy for minimal ongoing burn)
Net Income	-6.94	Latest reported quarter (Implied million USD)
Liquidation Distribution to Common Stockholders (If approved)	Approximately $2.0 million	Based on May 1, 2023, outstanding shares, contingent on dissolution approval

The structure of the remaining liabilities is governed by the Plan of Dissolution. The company established a reserve to cover:

• All expenses up until the filing of the certificate of dissolution.
• Other known, non-contingent liabilities and obligations.
• Reasonable provision for future expenses of liquidation.
• Reasonable provision for contingent and unknown liabilities.

The trading status itself reflects the cost structure change; the stock trading was suspended as of February 2, 2023, following Nasdaq's determination that the company was a 'public shell.'

What this estimate hides is the final settlement amount for contingent liabilities that will determine the final cash available for distribution. Finance: review the final reserve adequacy report by next Tuesday.

Calithera Biosciences, Inc. (CALA) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Calithera Biosciences, Inc. (CALA) as of late 2025, and honestly, the picture is defined by the ongoing Chapter 11 bankruptcy proceedings initiated back in November 2023. Traditional revenue from drug sales is non-existent; the focus is entirely on asset realization and managing remaining capital.

Proceeds from the sale of intellectual property and drug assets represent the primary expected inflow, stemming from the orderly wind down announced in January 2023. This process involves liquidating pipeline assets, such as the oral arginase inhibitors (INCB001158, CB-280) and inhibitors like ATG-037 and CB-668. Contextually, in April 2023, the company repurchased its Series A convertible preferred stock for $4.0 million in cash and granted a Contingent Value Right (CVR) to Takeda Ventures, Inc. This CVR entitles Takeda to all remaining proceeds from asset sales, capped at $31.0 million, after establishing a reserve for liabilities and expenses. Furthermore, contingent upon stockholder approval of the Plan of Dissolution, a liquidating distribution of $0.40 per share, totaling approximately $2.0 million based on the May 1, 2023, share count, was anticipated for common stockholders before Takeda's entitlement. These liquidation activities dictate the current financial structure.

Interest income on remaining cash balances is a secondary, passive stream. Given the company is actively pursuing asset liquidation to satisfy creditor claims, any cash remaining after operational wind-down expenses and liability payments would generate minimal interest income. The net change in cash for the latest reported quarter was a use of -$8.62 million, suggesting the cash balance is being drawn down, which limits the potential for significant interest accrual.

Potential residual milestone payments from former collaborations are highly unlikely to materialize as a meaningful revenue stream. The company's former collaboration agreements with entities like Incyte, Pfizer, Mars, and Antengene are subject to review and potential termination as part of the bankruptcy proceedings. Any historical revenue from these partnerships, such as the $6.75 million in license revenue reported in Q3 2021, is not expected to recur under the current liquidation structure.

The operational performance, even in a wind-down phase, is reflected in the bottom line. The net income for a recent quarter was negative, at -$6.94 million. This negative figure highlights the ongoing cash burn associated with the wind-down and legal/restructuring expenses, even without active R&D operations. The Return on Equity (ROE) for the latest period was reported at -114.14%, underscoring significant shareholder deficit.

Here's a quick look at some key financial metrics reflecting the company's status as of the latest available data:

Financial Metric	Amount / Value
Net Income (Latest Quarter)	-$6.94 million
Net Change in Cash (Latest Quarter)	-$8.62 million
Debt / Equity Ratio	8.17%
Return on Equity (ROE)	-114.14%
Dividend Yield	0.00%
Maximum Potential Asset Proceeds to Takeda (CVR)	$31.0 million

The structure of the remaining value realization is heavily weighted toward the asset sale proceeds, which are legally earmarked post-liquidation reserve. You can see the general financial context below:

• The company's P/E Ratio (TTM as of November 24, 2025) was reported at -0.0003.
• Retained earnings on the balance sheet were reported as $0 for the quarter ending December 31, 2023.
• The company does not anticipate making any liquidating distributions to common stockholders if the Plan of Dissolution is not approved.
• The Market Cap was listed as 974.00 in one data source.