Exhibit 99.1 Calidi Biotherapeutics Reports Second Quarter 2024 Operating and Financial Results - Launched Nova Cell subsidiary with $2 million investment from Dr. Ronald Rigor to advance Calidi's Adult Adipose Allogeneic (AAA) stem cell innovative programs - Strengthened team with the appointment of Dr. George E. Peoples, MD, FACS, adjunct professor of Surgical Oncology at MD Anderson Cancer Center, to the company's Board of Directors, and the addition of Mark Gilbert, MD, scientist emeritus at the Nationa ...

Launched Nova Cell subsidiary with $2 million investment from Dr. Ronald Rigor to advance Calidi's Adult Adipose Allogeneic (AAA) stem cell innovative programs Strengthened team with the appointment of Dr. George E. Peoples, MD, FACS, adjunct professor of Surgical Oncology at MD Anderson Cancer Center, to the company's Board of Directors, and the addition of Mark Gilbert, MD, scientist emeritus at the National Institutes of Health (NIH), to its Medical Advisory Board Received a new U.S. patent for the compa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-40789 Calidi Biotherapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 86-2967193 (State or other jurisdiction of incorporation or organization) ( ...

SAN DIEGO, July 29, 2024 (GLOBE NEWSWIRE) -- Calidi Biotherapeutics, Inc. (NYSE American: CLDI or "Calidi"), a clinical-stage biotechnology company developing a new generation of targeted antitumor virotherapies, announced a $2 million strategic investment by Dr. Ronald Rigor into its new subsidiary, Nova Cell, Inc. ("Nova Cell"), to advance Calidi's Adult Adipose Allogeneic (AAA) stem cell innovative programs. Dr Rigor also invested an additional $1 million into Calidi to further its oncology pipeline of a ...

SAN DIEGO, July 18, 2024 (GLOBE NEWSWIRE) -- Calidi Biotherapeutics, Inc. (NYSE American: CLDI or "Calidi"), a clinical-stage biotechnology company developing a new generation of targeted antitumor virotherapies, today announced the issuance of a new patent for the company's SuperNova technology, strengthening its intellectual property portfolio and positioning Calidi to advance its CLD-201 program into the clinic. "We see great potential in our SuperNova technology to address the vast unmet need for effect ...

"We are honored that Dr. Gilbert has recognized the revolutionary science at Calidi Biotherapeutics in both tumoral and glioblastoma cancer treatment. He joins other luminaries on our Medical Advisory Board who also believe in our stem-cell based therapy's potential to offer hope and better results for those with cancer," said Allan Camaisa, CEO of Calidi. Dr. Gilbert most recently served as the Chief of the Neuro-Oncology Branch at NIH from 2014 to 2024. Under Dr. Gilbert's leadership, his team of laborato ...

Financial Performance - Reported a net loss of $7.2 million, or $0.20 per share, for Q1 2024, compared to a net loss of $6.5 million, or $0.75 per share, for the same period in 2023[5] - Cash and restricted cash totaled $1.4 million as of March 31, 2024, down from $2.1 million as of December 31, 2023[8] - Total liabilities increased to $21.98 million as of March 31, 2024, up from $18.25 million as of December 31, 2023[16] Fundraising and Capital - Closed a public offering of 15,197,500 shares of common stock and accompanying warrants, raising gross proceeds of $6.1 million[4] - Anticipates initiating a Phase 1 trial with Northwestern University in Q3 2024, subject to additional capital being raised[18] Research and Development - Research and development expenses were $2.7 million for Q1 2024, compared to $2.6 million for the same period in 2023[13] - Unveiled the RTNova systemic platform, which has demonstrated preclinical ability to resist inactivation by human serum and target diverse tumor types[4] - Plans to present three posters at the 2024 ASCO Annual Meeting, including an update from the ongoing Phase 1 trial of CLD-101 in recurrent high-grade glioma[18] - Presented new data at the AACR Annual Meeting supporting the first-in-class use of stem cells to protect and potentiate antitumor virotherapies[18] General and Administrative Expenses - General and administrative expenses increased to $4.0 million for Q1 2024, up from $2.8 million in the comparable period of 2023[6]

The Company estimated the fair value of common stock through the date of the FLAG Merger using an appropriate valuation methodology, in accordance with the framework of the American Institute of Certified Public Accountants' Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation. Each valuation methodology includes estimates and assumptions that require the Company's judgment. These estimates and assumptions include a number of objective and subjective factors, ...

Exhibit 99.1 Calidi Biotherapeutics Reports Fourth Quarter and Full-Year 2023 Operating and Financial Results - City of Hope, a leader in cancer research and treatment, was awarded $5.3 million from California Institute for Regenerative Medicine (CIRM) to develop a treatment for metastatic ovarian cancer using Calidi's licensed lead asset, NeuroNova (CLD101) - Announced novel systemic enveloped oncolytic virotherapy platform, RTNova, designed to target diverse tumor types - Strengthened team with the appoin ...

8 CLD-400 (RTNova) for certain lung cancer and Metastatic Solid Tumors, Our pre-clinical program involving enveloped oncolytic viruses is in the discovery phase of development and builds upon our research of using cells to protect, potentiate and deliver virotherapies. Our CLD-400 platform is derived from the research conducted in our prior pre-clinical CLD-202 program. The RTNova platform utilizes an engineered vaccinia virus enveloped by a cell membrane, that is potentially capable of targeting lung cance ...