Calithera Biosciences Reports Net Loss of $39.65 Million in 2022

Calithera Biosciences,(CALA) a biotechnology company spe cializing in the development of novel cancer therapies, has released its financial results for the year ended December 31, 2022. The company reported a net loss of $39.65 million for the year, while its revenue stood at $0. Calithera Biosciences' consolidated balance sheets show a decline in assets, while liabilities and stockholders' equity have also experienced changes.

Declining Assets and Liabilities

Calithera Biosciences' consolidated balance sheets reveal a decrease in total assets from $64.76 million in 2021 to $28.68 million in 2022. The decline primarily resulted from a decrease in cash and cash equivalents, which fell from $59.54 million to $25.45 million over the year. The company's current assets decreased to $26.62 million compared to $61.45 million in the previous year.

The liabilities of Calithera Biosciences also experienced a decline. Total liabilities decreased from $15.67 million in 2021 to $8.28 million in 2022. The decrease was mainly driven by a reduction in current liabilities, which decreased from $14.01 million to $7.39 million.