Calidi Biotherapeutics Prices $6 Million Public Offering to Advance Clinical-Stage Immuno-Oncology Therapies

Calidi Biotherapeutics Inc. (NYSE American: CLDI), a clinical-stage biotechnology company, has announced the pricing of an underwritten public offering expected to generate $6 million in gross proceeds before expenses. The offering consists of approximately 1.47 million common stock units priced at $2.00 each and approximately 1.53 million pre-funded warrant units priced at $1.999 each, with both unit types including Series I warrants exercisable at $2.00 per share for a five-year period. Ladenburg Thalmann serves as the sole book-running manager for the offering, with Laidlaw & Company (U.K.) Ltd. acting as co-manager.

This capital raise is significant for advancing Calidi's proprietary Redtail platform, which represents a novel approach in immuno-oncology by using engineered enveloped oncolytic viruses designed for systemic delivery to metastatic disease sites. The company's advanced enveloped technology aims to shield the virus from immune clearance, potentially allowing virotherapy to effectively reach tumor sites, induce tumor lysis, and deliver potent gene therapies to metastatic locations that are traditionally difficult to treat. The funding comes at a critical juncture as the company's lead candidate from the Redtail platform progresses through IND-enabling studies targeting non-small cell lung cancer, ovarian cancer, and other tumor types with high unmet medical need.

For investors seeking additional information, the latest news and updates relating to CLDI are available in the company's newsroom at https://ibn.fm/CLDI. The successful pricing of this offering demonstrates continued investor confidence in Calidi's approach to developing targeted therapies that could potentially overcome the limitations of current cancer treatments, particularly for metastatic diseases where effective systemic delivery remains a major challenge in oncology drug development.