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

Calidi Biotherapeutics Inc. (NYSE American: CLDI), a clinical-stage biotechnology company, has completed an underwritten public offering generating $6.9 million in gross proceeds before deducting commissions and expenses. The company sold 1,922,764 common stock units priced at $2.00 each and 1,528,000 pre-funded warrant units priced at $1.999 each, with the offering including the full exercise of the underwriters' 450,000 common stock unit over-allotment option.

Each common stock unit consists of one share of common stock and one Series I warrant, while each pre-funded warrant unit contains one pre-funded warrant and one Series I warrant. The Series I warrants are immediately exercisable at $2.00 per share and will expire five years from issuance. Ladenburg Thalmann & Co. Inc. served as sole book-running manager for the offering, with Laidlaw & Company (U.K.) Ltd. acting as co-manager.

This capital infusion is significant for advancing Calidi's proprietary Redtail platform, which features engineered enveloped oncolytic viruses designed for systemic delivery to metastatic cancer sites. The technology aims to shield the virus from immune clearance, enabling effective delivery of genetic medicines to distal disease locations. 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 high unmet medical need.

Additional information about Calidi Biotherapeutics is available in the company's newsroom at https://ibn.fm/CLDI. The funding announcement underscores the ongoing investor interest in innovative oncology approaches that address the challenges of treating metastatic cancers, particularly those with limited treatment options. The successful offering, including full over-allotment exercise, indicates market confidence in Calidi's technology platform and development strategy.

The capital raised will support continued development of both systemic and localized virotherapies, with the company also developing protected virotherapies in clinical-stage for intratumoral and localized administration. This financial milestone enables Calidi to progress its pipeline toward clinical validation, potentially bringing novel treatment options to patients with difficult-to-treat cancers. The offering's structure, combining immediate funding through common units and additional potential capital through warrant exercises, provides both immediate resources and future financing flexibility.