Calidi Biotherapeutics Secures $6.9 Million in Public Offering to Advance Targeted Cancer Therapies

Calidi Biotherapeutics Inc. (NYSE American: CLDI), a clinical-stage biotechnology company, has completed an underwritten public offering that generated $6.9 million in gross proceeds before deducting commissions and expenses. The company sold 1,922,764 common stock units, each consisting of one share and one Series I warrant, along with 1,528,000 pre-funded warrant units, each comprising one pre-funded warrant and one Series I warrant. The offering included the full exercise of the underwriters' over-allotment option for 450,000 common stock units.

The pricing structure placed common stock units at $2.00 each while pre-funded units were priced at $1.999. The Series I warrants included in both unit types are immediately exercisable at $2.00 per share and will remain valid for five years from their issuance date. Ladenburg Thalmann & Co. Inc. served as the sole book-running manager for the offering, with Laidlaw & Company (U.K.) Ltd. acting as co-manager. Additional details about the offering can be found in the full press release available at https://ibn.fm/FEy8z.

This financing achievement holds significant importance for Calidi's ongoing research and development efforts in immuno-oncology. The company specializes in developing targeted therapies designed to deliver genetic medicines to distal disease sites, particularly focusing on metastatic cancers. Their proprietary Redtail platform utilizes engineered enveloped oncolytic viruses specifically designed for systemic delivery and precise targeting of metastatic locations throughout the body.

The advanced enveloped technology incorporated in Calidi's platform aims to protect the therapeutic viruses from immune system clearance, enabling effective delivery to tumor sites where they can induce tumor destruction and administer potent gene therapies directly to metastatic areas. The company's lead candidate from the Redtail platform is currently undergoing IND-enabling studies targeting non-small cell lung cancer, ovarian cancer, and other tumor types that represent areas of high unmet medical need. Investors and stakeholders can access the latest news and updates relating to CLDI through the company's newsroom at https://ibn.fm/CLDI.

The successful completion of this $6.9 million offering provides Calidi with essential capital to advance its clinical programs and continue development of its innovative cancer treatment approaches. This financial backing supports the company's mission to address challenging cancer indications through novel therapeutic delivery systems that could potentially improve treatment outcomes for patients with metastatic disease.