According to the textbook (referring to Figure 11.8 representing the Calvin Cycle), the cycle proceeds in three distinct stages in order:

1. Carboxylation (A): Fixation of CO2 into a stable organic intermediate.
2. Reduction (B): A series of reactions that lead to the formation of glucose.
3. Regeneration (C): Regeneration of the CO2 acceptor molecule RuBP [Sources 111, 114].