Core Viewpoint - Calidi Biotherapeutics has successfully strengthened its financial position through recent fundraising efforts, allowing the company to terminate its Standby Equity Purchase Agreement, which is seen as a strategic move to enhance shareholder value and focus on clinical goals [1][4]. Financial Position - As of December 31, 2024, Calidi reported an ending cash balance of approximately 9.5 million in gross proceeds from two public offerings, along with 3.1 million from its At-The-Market facility [3]. - A subsequent public offering in January 2025 raised an additional 25 million of common stock over three years, but the company did not exercise this option [2]. Clinical Development - Calidi is advancing its innovative virotherapy platforms, with recent milestones including the acceptance of an abstract for its systemic platform at the American Association for Cancer Research Annual Meeting in April 2025 [4]. - The company received IND clearance from the FDA for a Phase 1b/2 trial of CLD-101 targeting high-grade gliomas, with plans to begin patient enrollment in the first quarter of 2025 [4]. Company Overview - Calidi Biotherapeutics is a clinical-stage immuno-oncology company focused on developing targeted antitumor virotherapies using proprietary stem cell-based platforms [5]. - The company's technology aims to enhance the immune system's ability to fight cancer, particularly in high-grade gliomas and solid tumors [5].
Calidi Biotherapeutics Announces Bolstered Cash Balance and Termination of its Standby Equity Purchase Agreement