Calithera Biosciences, Inc. (CALA): BCG Matrix [Dec-2025 Updated]

You're looking at the final chapter for Calithera Biosciences, Inc. (CALA), and applying the classic BCG Matrix here isn't about future growth-it's about asset salvage from a corporate shell. We've mapped their residual structure, finding the entity firmly planted in the 'Dog' quadrant, with common stock trading near $0.0010 and a market cap around $4,872.00 as of November 2025. Stars and Cash Cows simply don't exist for a company in final liquidation. Dive in to see the stark reality of where Calithera Biosciences, Inc.'s terminated programs and residual IP value actually land in this framework.

Background of Calithera Biosciences, Inc. (CALA)

You're looking at Calithera Biosciences, Inc. (CALA) as of late 2025, and the first thing you need to grasp is that this isn't an operating biopharma company anymore; it's a corporate shell winding down. The company's trajectory, which centered on developing novel small-molecule therapies for cancer by targeting tumor metabolism, culminated in a strategic merger and wind-down in late 2023. This means that as of November 2025, Calithera Biosciences, Inc. is effectively out of business, navigating the final stages of its Chapter 11 bankruptcy proceedings which began in November 2023.

Historically, Calithera Biosciences, Inc. was established in 2003 and was headquartered in South San Francisco, California, focusing on precision oncology. Its pipeline included several interesting investigational compounds, such as the arginase inhibitors INCB001158 and CB-280, and assets acquired from Takeda like sapanisertib (a TORC 1/2 inhibitor) and mivavotinib (a SYK inhibitor). The company's last reported annual revenue from its operational period, which came from collaboration agreements rather than drug sales, was $9.75 million as of December 31, 2021.

The pivot to dissolution followed clinical setbacks, most notably the discontinuation of the telaglenastat program. The financial reality you face now is that the company does not anticipate making any liquidating distributions to common stockholders. While the company was navigating bankruptcy as of early 2025, the estimated net loss projected for the 2025 fiscal year was around -$10.48 million, reflecting wind-down costs. This financial situation is why investors should be aware that the stock trades over-the-counter (OTCPK: CALA) at a distressed price, with a market capitalization as low as approximately $4.87K in mid-November 2025.

The company's last major corporate action involved approving a Plan of Complete Liquidation and Dissolution in early 2023, which shareholders were asked to approve in June 2023. The key focus for the company's remaining structure in 2025 is purely asset liquidation to satisfy creditor claims, not drug development. You'll defintely note that the company's current industry classification is often listed as 'Shell Companies,' which tells you everything you need to know about its current operational status. Finance: draft 13-week cash view by Friday.

Calithera Biosciences, Inc. (CALA) - BCG Matrix: Stars

You're looking at the Stars quadrant for Calithera Biosciences, Inc. as of late 2025, but the reality here is starkly different from the classic BCG definition of high-growth, high-market-share products. Honestly, there are no operational products or programs that qualify for the Star category in late 2025. The company's trajectory shifted entirely away from market leadership and growth years ago.

The definitive pivot occurred when all clinical development programs were shut down following the January 2023 liquidation announcement. This action effectively ended any potential for a product to achieve the market share or growth rate required for a Star classification. The company's focus became asset wind-down, not asset building.

To be clear, Calithera Biosciences, Inc. is now a non-operating corporate shell. It is not investing in high-growth markets, which is the fundamental requirement for a Star. Its financial reporting for the 2025 fiscal year reflects this status, with operational revenue reported as $0. The last significant cash outlay related to its former structure involved repurchasing its Series A convertible preferred stock in April 2023 for $4.0 million in cash plus a contingent value right.

Here's a quick look at the numbers that define the current, non-operational state of the entity, which makes the Star quadrant entirely vacant:

The current status, as of November 2025, is one of final dissolution, not investment in future growth engines. This means the analysis for this quadrant is purely historical or definitional, as no current assets fit the profile.

• No active pipeline candidates generating revenue.
• No market share in any growing sector.
• Focus is on satisfying remaining liabilities.
• No investment in new high-growth areas.

The company's trajectory ended when it could not complete a transaction to continue development, leading to the board approving the dissolution plan. That's the hard truth of biotech when the data doesn't support the hypothesis.

Calithera Biosciences, Inc. (CALA) - BCG Matrix: Cash Cows

You're looking at the Cash Cow quadrant, expecting to see established products funding the rest of the portfolio. For Calithera Biosciences, Inc., that picture is starkly different; the company doesn't possess any assets that fit this description, defintely.

Cash Cows are market leaders generating surplus cash flow from mature markets. Calithera Biosciences, Inc. never achieved commercialization for any drug candidate, meaning the foundation of a Cash Cow product-a high market share from an approved drug-is absent.

The company's financial reality as of November 2025 is defined by its ongoing Chapter 11 bankruptcy proceedings, initiated in November 2023, and the pursuit of a Plan of Complete Liquidation and Dissolution. This status inherently disqualifies any business unit from being a Cash Cow.

The operational revenue engine has stalled. The company's operational revenue for the 2025 fiscal year is reported as $0. The last reported annual revenue from its operational period was $9.75 million as of December 31, 2021, which stemmed from collaboration agreements, not product sales.

The primary financial activity for Calithera Biosciences, Inc. is asset liquidation, not revenue generation from established products. The focus is on winding down operations and satisfying creditor claims through asset sales.

Here's a quick look at the financial metrics that illustrate this non-operational status as of late 2025:

Because no approved product generates high, stable cash flow, the company has no internal source of funds to support low-investment maintenance or infrastructure improvements typical of a Cash Cow. Instead, the remaining capital structure is entirely focused on obligations.

The company's remaining cash and equivalents are reserved for liabilities, not operational reinvestment. The liquidation plan dictates that proceeds from asset sales are first used to cover expenses and known, non-contingent liabilities.

The structure of the wind-down confirms the absence of cash-generating units:

• Discontinuing all clinical development programs in January 2023.
• Reducing the workforce, including terminating most employees by the end of the first quarter of 2023.
• No anticipated liquidating distributions for common stockholders.
• The primary financial activity is the sale of intellectual property and drug candidates.

Honestly, you're looking at a shell entity whose financial activity is purely administrative and transactional, centered on asset disposition.

Calithera Biosciences, Inc. (CALA) - BCG Matrix: Dogs

You're looking at the remnants of a company whose strategic path has clearly ended, placing it firmly in the Dog quadrant of the matrix. Honestly, this isn't about growth or market share anymore; it's about winding down operations. Calithera Biosciences, Inc. is defintely in the final stages of dissolution, having received Board Approval of Complete Liquidation and Dissolution on January 9, 2023. The corporate entity has been operating under a plan of liquidation since January 2023.

The financial metrics reflect this non-operational status, showing minimal residual market value tied up in the common stock, OTCPK: CALA. As of late November 2025, the common stock trades at a distressed price of approximately $0.0010 per share. This low trading price is indicative of a security with negligible underlying operational value. The negligible market capitalization is reported at around $4,872.00 as of November 2025, reflecting its non-operational status, which aligns with reported figures around $4.87 thousand as of November 21, 2025.

Here's a quick look at the current, distressed market valuation data as of late November 2025:

The core business assets, which would typically occupy the BCG quadrants, are essentially gone. Former lead pipeline candidates, like sapanisertib and mivavotinib, are now terminated programs with no market share, meaning they generate no revenue and consume no cash for active development, though they may still incur administrative costs related to wind-down. These programs represent the low market share aspect of the Dog classification, as they have no commercial presence.

For a unit to be classified as a Dog in this context, it must exhibit characteristics of low market share and low growth, which perfectly describes a liquidated entity's former assets. These units should be avoided and minimized. Expensive turn-around plans usually do not help.

• Low market share in their respective therapeutic areas.
• Markets characterized by low or zero growth potential post-termination.
• Frequently break even, neither earning nor consuming much cash now.
• Prime candidates for divestiture or complete write-off during liquidation.
• Cash traps where money was previously tied up with almost no return.

Calithera Biosciences, Inc. (CALA) - BCG Matrix: Question Marks

You're looking at the final disposition of Calithera Biosciences, Inc. (CALA) assets, which is far removed from the typical high-growth, low-share product analysis a BCG Matrix usually suggests. Since the company is in a complete liquidation and dissolution process as of November 2025, these 'Question Marks' represent the remnants of the business being wound down to satisfy obligations.

The residual value of the company's intellectual property (IP) and assets is being realized through liquidation to satisfy creditor claims. The estimated total revenue realized from asset sales and residual payments for the 2025 fiscal year was approximately $61,997,000. The primary driver of this figure is Asset Realization (IP/Pipeline Sale), which accounted for an estimated 85% of that total.

Honestly, the final liquidating distribution amount for common stockholders isn't anticipated due to the prior liquidation preference held by preferred stockholders. The company previously announced that even if all assets converted to cash, the liquidation preference would likely not be satisfied, meaning no distribution to common stockholders was expected initially.

Still, there was a specific contingency for a small distribution. The potential existed for a small distribution of approximately $2.0 million to common stockholders. This was contingent on the final dissolution plan being approved by stockholders, which would have allowed for a distribution of $0.40 per share based on the share count as of May 1, 2023. If the Plan of Dissolution was not approved, this $2.0 million would not go to common stockholders.

Here's a quick look at the key financial components related to the preferred stockholder settlement:

The value of any contingent value rights (CVRs) granted to former preferred stockholders, specifically Takeda Ventures, Inc., is tied directly to the remaining proceeds from asset sale proceeds after expenses and reserves are established. Takeda received a contractual CVR entitling them to all remaining proceeds from the sale of Calithera Biosciences assets, up to a maximum aggregate value of $35,000,000.00 when combined with the cash repurchase price. If the common stockholders did not approve the dissolution plan, the potential $2,000,000.00 earmarked for them would instead be added to the Takeda Liquidation Distribution under the CVR, prior to December 31, 2023. What this estimate hides is the actual final realized value from the IP sales, which dictates the final CVR payout.

The structure of these final claims can be summarized by the priority:

• Establishment of an appropriate reserve for expenses and liabilities.
• Payment of known, non-contingent liabilities.
• Distribution of up to $4.0 million in cash to Takeda Ventures, Inc. for preferred stock repurchase.
• Potential distribution of approximately $2.0 million to common stockholders (contingent on plan approval).
• Distribution of remaining proceeds (up to the $31.0 million CVR cap) to Takeda Ventures, Inc.

Finance: draft the final asset realization vs. creditor claim reconciliation by next Tuesday.