CALITHEA BIOSCIENCES, Inc. (CALA): Business Model Canvas [Jan-2025 Mis à jour]

Calithea Biosciences, Inc. (CALA) est à l'avant-garde de la thérapeutique innovante du métabolisme du cancer, des approches révolutionnaires pionnières pour lutter contre certains des traitements oncologiques les plus difficiles. En tirant parti d'une plate-forme de technologie d'inhibition enzymatique sophistiquée et de collaborations stratégiques, cette entreprise de biotechnologie transforme le paysage de la médecine de précision, offrant de l'espoir aux patients et aux chercheurs grâce à son mécanisme d'action unique et à des interventions de voies métaboliques ciblées. Leur modèle commercial complet représente un plan sophistiqué pour l'innovation scientifique et les thérapies révolutionnaires potentielles qui pourraient révolutionner les stratégies de traitement du cancer.

CALITHORA BIOSCIENCES, Inc. (CALA) - Modèle commercial: partenariats clés

Collaborations de recherche pharmaceutique avec des établissements universitaires

Institution	Focus de recherche	Année de collaboration
Université de Californie, San Francisco	Recherche du métabolisme du cancer	2020
Université de Stanford	Études d'inhibiteur de la glutaminase	2021

Calthera a établi des partenariats de recherche ciblés axés sur le développement de nouvelles thérapies contre le cancer grâce à des accords de recherche universitaires collaboratifs.

Alliances stratégiques avec les entreprises de biotechnologie

Entreprise	Détails du partenariat	Valeur de collaboration
Incyte Corporation	Collaboration de recherche sur l'immunothérapie	5,2 millions de dollars
Sertier pharmaceutique	Développement de médicaments en oncologie	7,8 millions de dollars

Partenariat avec des entités potentielles de licence pharmaceutique

• Pfizer Inc. - Discussions de licence potentielles pour la plate-forme d'inhibiteur de glutaminase
• Miserrer & Co. - Collaboration exploratoire pour la recherche sur le métabolisme du cancer
• Bristol Myers Squibb - Licence potentielle des cibles d'oncologie métabolique

Accords de recherche collaborative avec les centres de traitement du cancer

Centre de traitement	Programme de recherche	Durée du contrat
MD Anderson Cancer Center	Essais cliniques de phase II	3 ans
Memorial Sloan Kettering	Recherche en oncologie de précision	2 ans

Investissement total de partenariat en 2023: 18,5 millions de dollars

CALITHEA BIOSCIENCES, Inc. (CALA) - Modèle d'entreprise: Activités clés

Développer de nouveaux thérapies du métabolisme du cancer

Depuis le Q4 2023, les biosciences de Calthera se sont concentrées sur le développement de la thérapie inhibiteur des enzymes ciblant le métabolisme du cancer. Le pipeline de recherche de l'entreprise comprenait:

Drogue	Étape de recherche	Indication cible
Incb57643	Essai clinique de phase 1/2	Tumeurs solides
CB-280	Développement préclinique	Cibles du cancer métabolique

Mener des études de recherche préclinique et clinique

Recherchez des mesures d'investissement pour 2023:

• Total des dépenses de R&D: 34,2 millions de dollars
• Nombre d'essais cliniques actifs: 2
• Personnel de recherche: 45 membres du personnel scientifique

Avocation du développement de médicaments inhibiteurs de l'enzyme

Zones de mise au point du développement des inhibiteurs enzymatiques:

Cible enzymatique	Mécanisme	Statut de développement
Glutaminase (GLS)	Inhibition de la voie métabolique	Essais cliniques en cours
Arginase	Modulation immunitaire	Recherche préclinique

Effectuer la recherche en médecine translationnelle

Métriques de recherche translationnelle:

• Programmes de recherche sur les biomarqueurs: 3
• Partenariats de recherche collaborative: 2 institutions universitaires
• Initiatives de médecine de précision: études de stratification des patients en cours

Gestion des opérations d'essais cliniques

Gestion des essais cliniques overview:

Paramètre d'essai	2023 données
Sites totaux d'essais cliniques	12 sites à travers les États-Unis
Inscription des patients	Environ 80 patients
Durée de l'essai	Études de phase 1/2 en cours

CALITHORA BIOSCIENCES, Inc. (CALA) - Modèle d'entreprise: Ressources clés

Plateforme de technologie d'inhibition des enzymes propriétaires

Depuis le quatrième trime Plateforme de technologie d'inhibition enzymatique spécialisée axé sur le ciblage du métabolisme du cancer.

Métriques de la plate-forme technologique	Détails quantitatifs
Nombre de plateformes technologiques propriétaires	2 plates-formes d'inhibition enzymatiques distinctes
Investissement de recherche dans la technologie	8,3 millions de dollars alloués en 2023
Applications de brevet liées à la plate-forme	7 demandes de brevet actives

Équipe de recherche et développement spécialisée

Les capacités de R&D de Caltherhea sont structurées avec du personnel scientifique spécialisé.

• Personnel total de R&D: 42 employés
• Rechercheurs de niveau doctoral: 18 membres de l'équipe
• Expérience de recherche moyenne: 12,5 ans

Portfolio de propriété intellectuelle en oncologie

La société maintient un portefeuille de propriété intellectuelle robuste ciblant les traitements oncologiques.

Métriques du portefeuille IP	Détails quantitatifs
Brevets actifs totaux	15 brevets accordés
Demandes de brevet en instance	9 applications en revue
Plage d'expiration des brevets	2031-2039

Installations avancées de laboratoire et de recherche

Calithera exploite une infrastructure de recherche spécialisée soutenant la découverte de médicaments.

• Espace total des installations de recherche: 22 000 pieds carrés
• Emplacement: South San Francisco, Californie
• Investissement en équipement de laboratoire: 3,7 millions de dollars en 2023

Expertise scientifique dans le métabolisme du cancer

L'entreprise tire parti des connaissances scientifiques profondes en recherche en oncologie métabolique.

Métriques de l'expertise scientifique	Détails quantitatifs
Articles de recherche publiés	23 publications évaluées par des pairs en 2023
Présentations de conférence	12 présentations de conférence scientifique
Partenariats de collaboration de recherche	4 partenariats de recherche académique actifs

CALITHORA BIOSCIENCES, Inc. (CALA) - Modèle d'entreprise: propositions de valeur

Thérapies innovantes du métabolisme du cancer ciblé

Calthera Biosciences se concentre sur le développement de la thérapie de petites molécules ciblant le métabolisme du cancer. Au quatrième trimestre 2023, le pipeline clé de la société comprend:

Programme thérapeutique	Cible	Étape de développement
CB-280	Inhibiteur de la glutaminase	Essais cliniques de phase 1/2
Incb001158	Inhibiteur de l'arginase	Essais cliniques de phase 1

Traitements de percée potentiels pour les cancers difficiles

La recherche de Calithera cible les vulnérabilités métaboliques spécifiques dans les cellules cancéreuses, en mettant l'accent sur:

• Tumeurs solides
• Carcinome à cellules rénales
• Cancer du poumon non à petites cellules

Approches de médecine de précision

Investissement financier dans la recherche en médecine de précision:

Catégorie de recherche	Investissement (2023)
Dépenses de R&D	33,4 millions de dollars
Recherche de voies métaboliques	12,6 millions de dollars

Mécanisme d'action unique

Mécanismes de différenciation clés:

• Inhibition de la glutaminase
• Inhibition de l'arginase
• Perturbation des voies métaboliques

Répondre aux besoins médicaux non satisfaits

Portefeuille d'essais cliniques ciblant des indications spécifiques de cancer:

Type de cancer	Phase d'essai clinique	Population de patients
Carcinome à cellules rénales	Phase 2	Patients atteints de maladie avancée
Cancer du poumon non à petites cellules	Phase 1/2	Patients résistants au traitement

Calithera Biosciences, Inc. (CALA) - Modèle d'entreprise: relations clients

Engagement direct avec les professionnels de la santé

Calthera Biosciences s'engage avec les professionnels de la santé grâce à des interactions ciblées:

Méthode d'engagement	Fréquence	Public cible
Conférences en oncologie	4-5 par an	Oncologues, chercheurs
Réunions de conseil scientifique	2-3 par trimestre	Leaders d'opinion clés
Communications médicales directes	En cours	Spécialistes cliniques

Communication transparente sur les progrès des essais cliniques

Canaux de communication pour la transparence des essais cliniques:

• Présentations des investisseurs trimestriels
• Mises à jour de dépôt de la SEC
• Communiqués de presse détaillant les jalons d'essai
• Section des essais cliniques sur le site Web de l'entreprise

Relations collaboratives avec la communauté de recherche en oncologie

Type de collaboration	Nombre de partenariats	Focus de recherche
Collaborations de recherche universitaire	3-4 partenariats actifs	Recherche en oncologie axée sur le métabolisme
Alliances de recherche pharmaceutique	2 partenariats en cours	Nouvelles approches thérapeutiques

Approche de développement de médicaments axé sur les patients

Stratégies clés d'engagement des patients:

• Interactions du groupe de défense des patients
• Mécanismes de rétroaction des participants à l'essai clinique
• Suivi des résultats déclarés par les patients

Présentations et publications scientifiques régulières

Plate-forme de publication	Fréquence annuelle	Impact les métriques
Journaux évalués par des pairs	6-8 publications	Cité dans la littérature scientifique
Présentations de la conférence scientifique	4-5 présentations majeures	Métriques d'engagement du public

CALITHEA BIOSCIENCES, Inc. (CALA) - Modèle d'entreprise: canaux

Communication directe avec les partenaires pharmaceutiques

Depuis le quatrième trimestre 2023, les biosciences de Calthera ont maintenu 3 Collaborations de partenariat pharmaceutique actif. Les canaux de communication directs de l'entreprise comprennent:

• Réunions individuelles ciblées
• Sessions de stratégie de recherche collaborative
• Communications de partenariat confidentiels

Conférences scientifiques et symposiums médicaux

Type de conférence	Fréquence de participation	Présentations moyennes
Conférences en oncologie	4-5 par an	2-3 présentations de recherche
Symposiums de maladies métaboliques	2-3 par an	1-2 présentations de recherche

Publications de journal évaluées par des pairs

En 2023, Calithea a publié 7 articles de recherche évalués par des pairs dans des revues scientifiques, notamment:

• Journal of Clinical Oncology
• Médecine de la nature
• Découverte de cancer

Communications des relations avec les investisseurs

Canal de communication	Fréquence	Atteindre
Appels de résultats trimestriels	4 fois par an	Environ 150-200 investisseurs institutionnels
Réunion des actionnaires annuelle	1 fois par an	300 à 400 actionnaires estimés

Plateformes numériques pour la diffusion de la recherche

Les canaux de communication numérique comprennent:

• Site Web de l'entreprise avec des mises à jour de recherche
• Page d'entreprise LinkedIn
• Annonces de recherche Twitter
• Plateforme de classement Sec Edgar

CALITHORA BIOSCIENCES, Inc. (CALA) - Modèle d'entreprise: segments de clientèle

Institutions de recherche en oncologie

Depuis le quatrième trimestre 2023, Calthera Biosciences cible environ 250 institutions de recherche en oncologie spécialisées dans le monde.

Type d'institution de recherche	Nombre de clients potentiels	Distribution géographique
Centres de recherche universitaires	127	Amérique du Nord: 68, Europe: 39, Asie: 20
Instituts de recherche indépendants	98	Amérique du Nord: 52, Europe: 29, Asie: 17

Sociétés pharmaceutiques

Calithera cible les sociétés pharmaceutiques développant des thérapies ciblées du cancer.

• Clients pharmaceutiques potentiels totaux: 47
• Sociétés pharmaceutiques axées sur l'oncologie: 32
• Opportunités de partenariat potentiel: 15

Centres de traitement du cancer

L'entreprise se concentre sur des centres de traitement du cancer spécialisés menant des essais cliniques.

Catégorie du centre de traitement	Nombre de centres	Sites d'essais cliniques potentiels
Centres de cancer complets	51	38
Centres de cancer de la communauté	126	22

Chercheurs en clinique

Le segment cible des chercheurs cliniques cibles de Calithers comprend des professionnels spécialisés en oncologie.

• Total des chercheurs cliniques ciblés: 1 200
• Des chercheurs se spécialisent en oncologie de précision: 487
• Les enquêteurs potentiels d'essais à un stade précoce: 213

Patients avec des types de cancer spécifiques

L'objectif thérapeutique de l'entreprise cible des populations de patients spécifiques.

Type de cancer	Population estimée des patients	Potentiel de traitement cible
Tumeurs solides	42 000 patients potentiels	Candidats à la thérapie de haute précision
Cancers réfractaires	18 500 patients potentiels	Opportunités de traitement avancées

CALITHEA BIOSCIENCES, Inc. (CALA) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Calthera Biosciences a déclaré des dépenses totales de recherche et de développement de 30,4 millions de dollars.

Catégorie de dépenses de R&D	Montant ($)
Recherche préclinique	8,2 millions
Développement d'essais cliniques	15,6 millions
Recherche de composés pharmaceutiques	6,6 millions

Coûts de gestion des essais cliniques

Les dépenses d'essai cliniques pour 2023 étaient d'environ 22,1 millions de dollars.

• Essais de phase I: 6,3 millions de dollars
• Essais de phase II: 12,5 millions de dollars
• Coûts de conformité réglementaire: 3,3 millions de dollars

Maintenance de la propriété intellectuelle

Les coûts annuels de maintenance de la propriété intellectuelle étaient de 1,7 million de dollars en 2023.

Type de dépenses IP	Montant ($)
Dépôt de brevet	850,000
Renouvellement des brevets	425,000
Soutien juridique	425,000

Personnel et compensation des talents scientifiques

Les dépenses totales du personnel pour 2023 étaient de 18,6 millions de dollars.

• Rémunération des cadres: 4,2 millions de dollars
• Salaires du personnel de recherche: 11,4 millions de dollars
• Personnel administratif: 3,0 millions de dollars

Investissements en laboratoire et en équipement

Les dépenses en capital pour les équipements de laboratoire en 2023 ont totalisé 5,3 millions de dollars.

Catégorie d'équipement	Investissement ($)
Instrumentation scientifique	3,2 millions
Systèmes informatiques	1,1 million
Infrastructure de laboratoire	1,0 million

CALITHORA BIOSCIENCES, Inc. (CALA) - Modèle d'entreprise: Strots de revenus

Accords de licence potentiels

Depuis le quatrième trimestre 2023, Calthera Biosciences n'a aucun accord de licence actif générant des revenus. La valeur totale de licence potentielle reste non divulguée.

Subventions de recherche

Source d'octroi	Montant	Année
National Institutes of Health (NIH)	1,2 million de dollars	2023
Ministère de la Défense	$750,000	2023

Financement de recherche collaborative

Financement total de recherche collaborative pour 2023: 3,5 millions de dollars.

Future commercialisation des produits

• Télaglenastat (CB-839) Stage de développement clinique
• Opportunité potentielle du marché en oncologie estimée à 500 millions de dollars

Payments d'étape provenant des partenariats pharmaceutiques

Partenaire	Paiements de jalons potentiels	Statut
Partenaire pharmaceutique un	Jusqu'à 50 millions de dollars	En attente
Partenaire pharmaceutique B	Jusqu'à 35 millions de dollars	En négociation

Paiements de jalons potentiels totaux: 85 millions de dollars

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.