Calidi Biotherapeutics Prices $6 Million Public Offering to Advance Clinical-Stage Cancer Therapies
TL;DR
Calidi Biotherapeutics' $6 million public offering provides investors early access to its innovative Redtail platform targeting high-unmet-need cancers with potential for significant returns.
Calidi priced 1.47 million common stock units at $2.00 each and 1.53 million pre-funded warrant units at $1.999 each, both with Series I warrants exercisable at $2.00 per share for five years.
Calidi's targeted therapies using engineered oncolytic viruses could revolutionize cancer treatment by delivering genetic medicines to metastatic sites, improving survival for patients with limited options.
Calidi Biotherapeutics is pioneering enveloped oncolytic virus technology designed to evade immune clearance and deliver potent gene therapies directly to tumor sites.
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Calidi Biotherapeutics Inc. (NYSE American: CLDI) has priced an underwritten public offering expected to generate $6 million in gross proceeds before expenses. The clinical-stage biotechnology company, which develops targeted therapies to deliver genetic medicines, will offer approximately 1.47 million common stock units at $2.00 per unit and approximately 1.53 million pre-funded warrant units at $1.999 per unit. Both offerings include Series I warrants exercisable at $2.00 per share for five years.
The funding is crucial for advancing Calidi's proprietary Redtail platform, an engineered enveloped oncolytic virus technology designed for systemic delivery to metastatic cancer sites. This technology aims to shield the virus from immune clearance, allowing virotherapy to effectively reach tumor locations, induce tumor lysis, and deliver potent gene therapies to distant disease sites. The company's lead candidate from this platform is currently in IND-enabling studies targeting non-small cell lung cancer, ovarian cancer, and other tumor types with significant unmet medical needs.
Ladenburg Thalmann is serving as sole book-running manager for the offering, with Laidlaw & Company (U.K.) Ltd. acting as co-manager. The capital raise comes at a critical juncture for the company's clinical development pipeline. Additional information about the offering is available at https://ibn.fm/LN7Xe.
Beyond the Redtail platform, Calidi is also developing protected virotherapies for intratumoral and localized administration, focusing on injectable cancer indications. The company's approach represents an innovative strategy in immuno-oncology, addressing the challenge of delivering effective treatments to metastatic sites that are often difficult to target with conventional therapies. Investors can access the latest news and updates relating to CLDI through the company's newsroom at https://ibn.fm/CLDI.
The public offering's success could significantly impact cancer treatment development, particularly for patients with advanced metastatic diseases who have limited therapeutic options. The funding will support the progression of Calidi's clinical programs through critical development milestones, potentially bringing novel treatment options to market for cancers with high mortality rates and poor prognosis. The company's technology platform, if successful, could transform how genetic medicines are delivered to difficult-to-reach tumor sites, offering new hope for patients with advanced cancers.
Curated from InvestorBrandNetwork (IBN)
