Calitera Biosciences, Inc. (CALA): Modelo de negócios Canvas [Jan-2025 Atualizado]

A Calithera Biosciences, Inc. (CALA) fica na vanguarda da terapêutica inovadora do metabolismo do câncer, pioneiras abordagens inovadoras para combater alguns dos tratamentos oncológicos mais desafiadores. Ao alavancar uma sofisticada plataforma de tecnologia de inibição de enzimas e colaborações estratégicas, esta empresa de biotecnologia está transformando o cenário da medicina de precisão, oferecendo esperança a pacientes e pesquisadores por meio de seu mecanismo de ação único e intervenções de via metabólica direcionada. Seu modelo de negócios abrangente representa um projeto sofisticado para inovação científica e terapias potenciais inovadoras que podem revolucionar as estratégias de tratamento do câncer.

Calitera Biosciences, Inc. (CALA) - Modelo de negócios: Parcerias -chave

Colaborações de pesquisa farmacêutica com instituições acadêmicas

Instituição	Foco na pesquisa	Ano de colaboração
Universidade da Califórnia, São Francisco	Pesquisa do metabolismo do câncer	2020
Universidade de Stanford	Estudos inibidores da glutaminase	2021

Calitera estabeleceu parcerias de pesquisa direcionadas com foco no desenvolvimento de novas terapias contra o câncer por meio de acordos de pesquisa acadêmica colaborativa.

Alianças estratégicas com empresas de biotecnologia

Empresa	Detalhes da parceria	Valor de colaboração
Incyte Corporation	Colaboração de pesquisa em imunoterapia	US $ 5,2 milhões
Servier Pharmaceuticals	Desenvolvimento de medicamentos para oncologia	US $ 7,8 milhões

Parceria com possíveis entidades de licenciamento farmacêutico

• Pfizer Inc. - Potenciais discussões de licenciamento para a plataforma inibidora de glutaminase
• Merck & Co. - Colaboração exploratória para pesquisa de metabolismo do câncer
• Bristol Myers Squibb - Licenciamento potencial de metas metabólicas de oncologia

Acordos de pesquisa colaborativa com centros de tratamento de câncer

Centro de tratamento	Programa de Pesquisa	Duração do contrato
MD Anderson Cancer Center	Ensaios clínicos de fase II	3 anos
Memorial Sloan Kettering	Pesquisa de oncologia de precisão	2 anos

Investimento total de parceria em 2023: US $ 18,5 milhões

Calitera Biosciences, Inc. (CALA) - Modelo de negócios: Atividades -chave

Desenvolvendo novos terapêuticos do metabolismo do câncer

A partir do quarto trimestre 2023, a Calithera Biosciences se concentrou no desenvolvimento da terapêutica inibidora de enzimas visando o metabolismo do câncer. O pipeline de pesquisa da empresa incluiu:

Candidato a drogas	Estágio de pesquisa	Indicação alvo
Incb57643	Ensaio Clínico de Fase 1/2	Tumores sólidos
CB-280	Desenvolvimento pré -clínico	Metas de câncer metabólico

Condução de estudos de pesquisa pré -clínica e clínica

Métricas de investimento em pesquisa para 2023:

• Total de despesas de P&D: US $ 34,2 milhões
• Número de ensaios clínicos ativos: 2
• Pessoal de pesquisa: 45 funcionários científicos

Desenvolvimento de medicamentos para inibidores da enzima avançada

Áreas de foco de desenvolvimento de inibidores enzimáticos:

Alvo enzimático	Mecanismo	Status de desenvolvimento
Glutaminase (GLS)	Inibição da via metabólica	Ensaios clínicos em andamento
Arginase	Modulação imunológica	Pesquisa pré -clínica

Realizando pesquisa de medicina translacional

Métricas de pesquisa translacional:

• Programas de pesquisa de biomarcadores: 3
• Parcerias de pesquisa colaborativa: 2 instituições acadêmicas
• Iniciativas de Medicina de Precisão: Estudos de Estratificação de Pacientes em andamento

Gerenciando operações de ensaio clínico

Gerenciamento de ensaios clínicos overview:

Parâmetro de teste	2023 dados
Sites de ensaios clínicos totais	12 locais nos Estados Unidos
Inscrição do paciente	Aproximadamente 80 pacientes
Duração do teste	Estudos de Fase 1/2 em andamento

Calitera Biosciences, Inc. (CALA) - Modelo de negócios: Recursos -chave

Plataforma de tecnologia de inibição da enzima proprietária

A partir do quarto trimestre 2023, a Calithera Biosciences mantém um plataforma de tecnologia de inibição enzimática especializada focado no segmentação do metabolismo do câncer.

Métricas da plataforma de tecnologia	Detalhes quantitativos
Número de plataformas de tecnologia proprietárias	2 plataformas de inibição de enzimas distintas
Investimento de pesquisa em tecnologia	US $ 8,3 milhões alocados em 2023
Aplicações de patentes relacionadas à plataforma	7 pedidos de patente ativos

Equipe especializada de pesquisa e desenvolvimento

Os recursos de P&D da Calithera são estruturados com pessoal científico especializado.

• Pessoal total de P&D: 42 funcionários
• Pesquisadores de nível de doutorado: 18 membros da equipe
• Experiência média de pesquisa: 12,5 anos

Portfólio de propriedade intelectual em oncologia

A Companhia mantém um portfólio de propriedade intelectual robusta direcionado aos tratamentos oncológicos.

Métricas de portfólio IP	Detalhes quantitativos
Total de patentes ativas	15 patentes concedidas
Aplicações de patentes pendentes	9 Aplicações em revisão
Faixa de expiração da patente	2031-2039

Instalações avançadas de laboratório e pesquisa

A Calithera opera infraestrutura de pesquisa especializada que apoia a descoberta de medicamentos.

• Espaço total da instalação de pesquisa: 22.000 pés quadrados
• Localização: South San Francisco, Califórnia
• Investimento de equipamentos de laboratório: US $ 3,7 milhões em 2023

Experiência científica no metabolismo do câncer

A empresa aproveita o profundo conhecimento científico em pesquisa metabólica de oncologia.

Métricas de especialização científica	Detalhes quantitativos
Artigos de pesquisa publicados	23 publicações revisadas por pares em 2023
Apresentações da conferência	12 apresentações da conferência científica
Parcerias de colaboração de pesquisa	4 parcerias de pesquisa acadêmica ativa

Calitera Biosciences, Inc. (CALA) - Modelo de negócios: proposições de valor

Terapias inovadoras do metabolismo do câncer direcionado

Calitera Biosciences concentra -se no desenvolvimento de terapêuticas de pequenas moléculas direcionadas ao metabolismo do câncer. A partir do quarto trimestre 2023, o oleoduto principal da empresa inclui:

Programa terapêutico	Alvo	Estágio de desenvolvimento
CB-280	Inibidor da glutaminase	Fase 1/2 ensaios clínicos
Incb001158	Inibidor da arginase	Ensaios clínicos de fase 1

Possíveis tratamentos inovadores para cânceres desafiadores

A pesquisa de Calithera tem como alvo vulnerabilidades metabólicas específicas em células cancerígenas, com foco em:

• Tumores sólidos
• Carcinoma de células renais
• Câncer de pulmão de células não pequenas

As abordagens de medicina de precisão

Investimento financeiro em pesquisa de medicina de precisão:

Categoria de pesquisa	Investimento (2023)
Despesas de P&D	US $ 33,4 milhões
Pesquisa de via metabólica	US $ 12,6 milhões

Mecanismo de ação único

Principais mecanismos de diferenciação:

• Inibição da glutaminase
• Inibição da arginase
• Interrupção da via metabólica

Atendendo às necessidades médicas não atendidas

Portfólio de ensaios clínicos direcionando indicações específicas do câncer:

Tipo de câncer	Fase de ensaios clínicos	População de pacientes
Carcinoma de células renais	Fase 2	Pacientes com doença avançada
Câncer de pulmão de células não pequenas	Fase 1/2	Pacientes resistentes ao tratamento

Calitera Biosciences, Inc. (CALA) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com profissionais de saúde

Calithera Biosciences se envolve com profissionais de saúde por meio de interações direcionadas:

Método de engajamento	Freqüência	Público -alvo
Conferências de oncologia	4-5 por ano	Oncologistas, pesquisadores
Reuniões consultivas científicas	2-3 por trimestre	Líderes de opinião -chave
Comunicações médicas diretas	Em andamento	Especialistas clínicos

Comunicação transparente sobre o progresso do ensaio clínico

Canais de comunicação para transparência de ensaios clínicos:

• Apresentações trimestrais dos investidores
• Atualizações de arquivamento da SEC
• Comunicamentos de imprensa detalhando os marcos de julgamento
• Seção de ensaios clínicos do site corporativo

Relações colaborativas com a comunidade de pesquisa oncológica

Tipo de colaboração	Número de parcerias	Foco na pesquisa
Colaborações de pesquisa acadêmica	3-4 parcerias ativas	Pesquisa de oncologia focada no metabolismo
Alianças de pesquisa farmacêutica	2 parcerias em andamento	Novas abordagens terapêuticas

Abordagem de desenvolvimento de medicamentos focados no paciente

Principais estratégias de envolvimento do paciente:

• Interações do grupo de defesa de pacientes
• Mecanismos de feedback dos participantes do ensaio clínico
• Rastreamento de resultados relatado pelo paciente

Apresentações científicas regulares e publicações

Plataforma de publicação	Frequência anual	Métricas de impacto
Revistas revisadas por pares	6-8 publicações	Citado em literatura científica
Apresentações da conferência científica	4-5 Principais apresentações	Métricas de engajamento do público

Calitera Biosciences, Inc. (CALA) - Modelo de negócios: canais

Comunicação direta com parceiros farmacêuticos

A partir do quarto trimestre 2023, a Calithera Biosciences mantinha 3 colaborações de parceria farmacêutica ativa. Os canais de comunicação direta da empresa incluem:

• Reuniões individuais direcionadas
• Sessões de estratégia de pesquisa colaborativa
• Comunicações de Parceria Confidencial

Conferências científicas e simpósios médicos

Tipo de conferência	Frequência de participação	Apresentações médias
Conferências de oncologia	4-5 por ano	2-3 apresentações de pesquisa
Simpósios de doenças metabólicas	2-3 por ano	1-2 apresentações de pesquisa

Publicações de revistas revisadas por pares

Em 2023, Calithera publicou 7 artigos de pesquisa revisados ​​por pares em revistas científicas, incluindo:

• Jornal de Oncologia Clínica
• Medicina da natureza
• Descoberta do câncer

Comunicações de Relações com Investidores

Canal de comunicação	Freqüência	Alcançar
Chamadas de ganhos trimestrais	4 vezes por ano	Aproximadamente 150-200 investidores institucionais
Reunião Anual dos Acionistas	1 tempo por ano	Estimado 300-400 acionistas

Plataformas digitais para disseminação de pesquisa

Os canais de comunicação digital incluem:

• Site da empresa com atualizações de pesquisa
• Página corporativa do LinkedIn
• Anúncios de pesquisa do Twitter
• Plataforma de arquivamento da SEC Edgar

Calitera Biosciences, Inc. (CALA) - Modelo de negócios: segmentos de clientes

Instituições de Pesquisa Oncológica

A partir do quarto trimestre 2023, a Calithera Biosciences tem como alvo aproximadamente 250 instituições especializadas em pesquisa de oncologia em todo o mundo.

Tipo de instituição de pesquisa	Número de clientes em potencial	Distribuição geográfica
Centros de pesquisa acadêmica	127	América do Norte: 68, Europa: 39, Ásia: 20
Institutos de pesquisa independentes	98	América do Norte: 52, Europa: 29, Ásia: 17

Empresas farmacêuticas

Calitera tem como alvo as empresas farmacêuticas que desenvolvem terapias de câncer direcionadas.

• Total em potencial clientes farmacêuticos: 47
• Empresas farmacêuticas focadas em oncologia: 32
• Oportunidades potenciais de parceria: 15

Centros de Tratamento do Câncer

A empresa se concentra em centros especializados de tratamento de câncer, realizando ensaios clínicos.

Categoria do centro de tratamento	Número de centros	Potenciais locais de ensaio clínico
Centros abrangentes de câncer	51	38
Centros de Câncer Comunitário	126	22

Pesquisadores clínicos

O segmento de pesquisador clínico -alvo de Calithera inclui profissionais de oncologia especializados.

• Total de pesquisadores clínicos direcionados: 1.200
• Pesquisadores especializados em oncologia de precisão: 487
• Potenciais investigadores de estudo em estágio inicial: 213

Pacientes com tipos específicos de câncer

O foco terapêutico da empresa tem como alvo populações específicas de pacientes.

Tipo de câncer	População estimada de pacientes	Potencial de tratamento alvo
Tumores sólidos	42.000 pacientes em potencial	Candidatos a terapia de alta precisão
Cânceres refratários	18.500 pacientes em potencial	Oportunidades de tratamento avançado

Calitera Biosciences, Inc. (CALA) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Calithera Biosciences relatou despesas totais de pesquisa e desenvolvimento de US $ 30,4 milhões.

Categoria de despesa de P&D	Valor ($)
Pesquisa pré -clínica	8,2 milhões
Desenvolvimento de ensaios clínicos	15,6 milhões
Pesquisa de compostos farmacêuticos	6,6 milhões

Custos de gerenciamento de ensaios clínicos

As despesas de ensaios clínicos para 2023 foram de aproximadamente US $ 22,1 milhões.

• Ensaios de Fase I: US $ 6,3 milhões
• Ensaios de Fase II: US $ 12,5 milhões
• Custos de conformidade regulatória: US $ 3,3 milhões

Manutenção da propriedade intelectual

Os custos anuais de manutenção da propriedade intelectual foram de US $ 1,7 milhão em 2023.

Tipo de despesa IP	Valor ($)
Registro de patentes	850,000
Renovação de patentes	425,000
Apoio legal	425,000

Pessoal e compensação de talentos científicos

As despesas totais de pessoal para 2023 foram de US $ 18,6 milhões.

• Compensação de executivos: US $ 4,2 milhões
• Salários da equipe de pesquisa: US $ 11,4 milhões
• Pessoal Administrativo: US $ 3,0 milhões

Investimentos de laboratório e equipamentos

As despesas de capital para equipamentos de laboratório em 2023 totalizaram US $ 5,3 milhões.

Categoria de equipamento	Investimento ($)
Instrumentação científica	3,2 milhões
Sistemas de computador	1,1 milhão
Infraestrutura de laboratório	1,0 milhão

Calithera Biosciences, Inc. (CALA) - Modelo de negócios: fluxos de receita

Acordos de licenciamento em potencial

A partir do quarto trimestre 2023, a Calithera Biosciences não possui acordos de licenciamento ativos gerando receita. O valor total potencial de licenciamento permanece não revelado.

Bolsas de pesquisa

Fonte de concessão	Quantia	Ano
Institutos Nacionais de Saúde (NIH)	US $ 1,2 milhão	2023
Departamento de Defesa	$750,000	2023

Financiamento de pesquisa colaborativa

Financiamento total de pesquisa colaborativa para 2023: US $ 3,5 milhões.

Comercialização futura do produto

• Telaglenastat (CB-839) estágio de desenvolvimento clínico
• Potenciais oportunidades de mercado de oncologia estimadas em US $ 500 milhões

Pagamentos marcantes de parcerias farmacêuticas

Parceiro	Potenciais pagamentos marcantes	Status
Parceiro farmacêutico a	Até US $ 50 milhões	Pendente
Parceiro farmacêutico b	Até US $ 35 milhões	Em negociação

Pagamentos em potencial total em potencial: US $ 85 milhões

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.