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 gross proceeds of $6 million before expenses. The offering consists of approximately 1.47 million common stock units priced at $2.00 per unit and approximately 1.53 million pre-funded warrant units priced at $1.999 per unit, with both unit types including Series I warrants exercisable at $2.00 per share for a five-year period. Ladenburg Thalmann served as the sole book-running manager for the offering, with Laidlaw & Company (U.K.) Ltd. acting as co-manager.

The capital raised through this offering is positioned to accelerate Calidi's development of targeted therapies designed to deliver genetic medicines to distal disease sites. The company's proprietary Redtail platform represents a significant advancement in immuno-oncology, featuring engineered enveloped oncolytic viruses specifically designed for systemic delivery and precise targeting of metastatic cancer locations. This technology platform is engineered to shield the therapeutic viruses from immune system clearance, potentially enabling more effective delivery of virotherapy to tumor sites where they can induce tumor lysis and deliver potent gene therapies directly to metastatic areas.

Calidi's lead candidate from the Redtail platform is currently in IND-enabling studies, targeting aggressive cancer types including non-small cell lung cancer and ovarian cancer, both representing areas of high unmet medical need where current treatment options remain limited. The company is simultaneously developing protected virotherapies for intratumoral and localized administration, focusing on injectable cancer indications that could benefit from more targeted therapeutic approaches. Additional information about Calidi's development programs and corporate updates is available in the company's newsroom at https://ibn.fm/CLDI.

The successful pricing of this $6 million offering underscores investor confidence in Calidi's innovative approach to cancer treatment and its potential to address significant challenges in metastatic cancer therapy. For companies developing novel therapeutic platforms, access to capital through public offerings can be crucial for advancing clinical programs through critical development milestones. The involvement of established financial institutions like Ladenburg Thalmann and Laidlaw & Company provides validation of the company's business strategy and development pipeline.

This funding round occurs at a time when the biotechnology sector continues to demonstrate strong investor interest in innovative cancer therapies, particularly those addressing treatment-resistant and metastatic diseases. The progression of Calidi's lead candidate through IND-enabling studies represents a critical step toward potential clinical trials and eventual regulatory approval, which could provide new treatment options for patients with limited therapeutic alternatives. The company's focus on engineering viruses capable of evading immune detection while effectively targeting metastatic sites represents a novel approach in the competitive immuno-oncology landscape.