Core Insights - Calidi Biotherapeutics Inc. reported significant advancements in its clinical-stage biotechnology platforms, focusing on targeted immunotherapies for various cancers [2][4][7] Financial Results - For Q4 2024, the company reported a net loss of 0.27 per share, an improvement from a net loss of 0.23 per share in Q4 2023 [4] - Research and development expenses decreased to 4.0 million in Q4 2023 [5] - General and administrative expenses also saw a reduction, totaling 5.9 million in the same period of 2023 [5] - For the full year 2024, the net loss attributable to common stockholders was 2.97 per share, down from a net loss of 17.33 per share in 2023 [9] - Total research and development expenses for 2024 were 13.0 million in 2023 [9] - General and administrative expenses for the year were 16.0 million in 2023 [10] - As of December 31, 2024, the company had approximately 1.9 million at the end of 2023 [10] Clinical Developments - The company has made progress in its clinical trials, including the filing of an IND for CLD-201 to treat multiple solid tumors and the advancement of CLD-101 in Phase 1 trials for high-grade glioma [2][7][8] - A total of 14 patients have been enrolled in the Phase 1 trial for recurrent high-grade glioma, supported by a $12 million award from the California Institute for Regenerative Medicine [8] - Upcoming milestones include the first patient dosing in the CLD-101 Phase 1 trial and the CLD-201 Phase 1 trial expected in Q2 and Q3 2025, respectively [8] Company Overview - Calidi Biotherapeutics is focused on developing immuno-oncology therapies utilizing proprietary technology to enhance the immune system's ability to fight cancer [11] - The company employs stem cell-based platforms to deliver oncolytic viruses for treating various oncology indications, including high-grade gliomas and solid tumors [11]
Calidi Biotherapeutics Reports Fourth Quarter and Full-Year 2024 Financial Results and Recent Operational Highlights