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 offering included the full exercise of the underwriters' over-allotment option, demonstrating strong investor interest in the company's pioneering approach to cancer treatment.

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 over-allotment option accounted for an additional 450,000 common stock units. Common stock units were priced at $2.00 each, while pre-funded units were priced at $1.999. The Series I warrants 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. The successful completion of this financing round provides Calidi Biotherapeutics with crucial capital to advance its clinical development programs. Additional information about the offering can be found at https://ibn.fm/FEy8z.

Calidi Biotherapeutics is developing targeted therapies designed to deliver genetic medicines to distal disease sites, particularly focusing on metastatic cancers. The company's proprietary Redtail platform features an engineered enveloped oncolytic virus specifically designed for systemic delivery and targeting of metastatic locations. This advanced technology aims to shield the virus from immune clearance, enabling effective delivery of virotherapy to tumor sites where it can induce tumor lysis and deliver potent gene therapies.

The lead candidate from the Redtail platform is currently in IND-enabling studies targeting non-small cell lung cancer, ovarian cancer, and other tumor types with significant unmet medical needs. Additionally, Calidi is developing protected virotherapies for intratumoral and localized administration, focusing on injectable cancer indications. The company maintains an updated newsroom at https://ibn.fm/CLDI where investors can access the latest developments.

This funding milestone represents significant progress for Calidi Biotherapeutics and the broader field of immuno-oncology. The successful capital raise enables continued advancement of innovative cancer treatments that could potentially address the challenges of metastatic disease delivery. For patients with advanced cancers, particularly those with metastatic non-small cell lung cancer and ovarian cancer, Calidi's technology offers hope for more effective targeted therapies that can reach distant tumor sites throughout the body.

The biotechnology and investment communities will be watching closely as Calidi progresses its clinical programs, with this funding serving as a critical enabler for the company's mission to transform cancer treatment through advanced genetic medicine delivery systems. The full exercise of the over-allotment option indicates strong market confidence in Calidi's technology platform and development strategy.