Calidi Biotherapeutics closed a public offering of approximately 4.4 million shares, raising $7.5 million for its cancer therapies.
Quiver AI Summary
Calidi Biotherapeutics Inc. has successfully closed a public offering of 4,437,869 shares of common stock at a price of $1.69 per share, generating approximately $7.5 million in gross proceeds. The offering was facilitated by Ladenburg Thalmann & Co. Inc. under registration statements approved by the SEC, and the final prospectus has been filed and is available on the SEC's website. Calidi, based in San Diego, is focused on developing innovative targeted antitumor virotherapies aimed at harnessing the immune system to combat cancer, particularly through its unique stem cell-based technology. The company is in the clinical stage of its pipeline, exploring therapies for various cancers, including high-grade gliomas and solid tumors.
Potential Positives
- Calidi Biotherapeutics raised approximately $7.5 million through its public offering, enhancing its financial resources for ongoing and future clinical trials.
- The successful closing of the offering underlines investor confidence in Calidi's clinical-stage virotherapies and their potential in cancer treatment.
- The offering will aid in advancing Calidi's proprietary technologies, including their novel stem cell-based platforms for treating high-grade gliomas and solid tumors.
- The press release includes comprehensive details about the offering, reflecting transparency and compliance with SEC regulations, which can enhance investor trust.
Potential Negatives
- The public offering price of $1.69 per share may indicate a lack of confidence in the company's market valuation, as it could be seen as low for a biotech firm with potentially innovative therapies.
- The need to raise capital through a public offering suggests the company may be struggling to secure sufficient funding through other means, raising concerns about financial stability.
- Forward-looking statements highlight significant risks and uncertainties regarding the company's clinical trials and potential FDA approvals, which may deter investor interest.
FAQ
What is the recent financial announcement from Calidi Biotherapeutics?
Calidi Biotherapeutics announced the closing of a public offering of 4,437,869 shares at $1.69 per share, raising approximately $7.5 million.
Who acted as the placement agent for Calidi's public offering?
Ladenburg Thalmann & Co. Inc. served as the exclusive placement agent for this offering.
Where can I find the final prospectus for Calidi's public offering?
The final prospectus can be accessed on the SEC's website at http://www.sec.gov or from Ladenburg Thalmann & Co. Inc.
What does Calidi Biotherapeutics specialize in?
Calidi Biotherapeutics is focused on developing targeted antitumor virotherapies using proprietary stem cell-based technologies for cancer treatment.
What are the key risks mentioned for Calidi's future clinical trials?
Key risks include potential inability to raise sufficient capital and uncertainty regarding FDA approval for their therapeutic candidates.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CLDI Hedge Fund Activity
We have seen 1 institutional investors add shares of $CLDI stock to their portfolio, and 38 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CPR INVESTMENTS INC. removed 560,000 shares (-100.0%) from their portfolio in Q3 2024
- RS CRUM INC. removed 263,470 shares (-100.0%) from their portfolio in Q3 2024
- METEORA CAPITAL, LLC removed 249,810 shares (-100.0%) from their portfolio in Q2 2024
- DELTA INVESTMENT MANAGEMENT, LLC removed 210,230 shares (-100.0%) from their portfolio in Q3 2024
- SPECTRUM ASSET MANAGEMENT, INC. (NB/CA) removed 166,494 shares (-100.0%) from their portfolio in Q2 2024
- CITADEL ADVISORS LLC removed 125,905 shares (-100.0%) from their portfolio in Q3 2024
- POLAR ASSET MANAGEMENT PARTNERS INC. removed 125,000 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN DIEGO, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Calidi Biotherapeutics Inc. (NYSE American: CLDI) ("Calidi"), a clinical-stage biotechnology company developing a new generation of targeted antitumor virotherapies, today announced the closing of its previously announced public offering of 4,437,869 shares of common stock at $1.69 per share for gross proceeds of approximately $7.5 million.
Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent for this offering.
The securities described above public offering were offered pursuant to registration statements on Form S-3 (File No. 333-282456), which were declared effective by the United States Securities and Exchange Commission ("SEC") on October 10, 2024. The offering was made solely by means of a prospectus. A final prospectus relating to the offering was filed with the SEC on November 15, 2024, and is available on the SEC's website located at
http://www.sec.gov
. Copies of the final prospectus can be obtained at the SEC's website at
http://www.sec.gov
or from Ladenburg Thalmann & Co. Inc. Electronic copies of the final prospectus relating to the offering may be obtained, when available, from Ladenburg Thalmann & Co. Inc., 640 Fifth Avenue, 4th Floor, New York, New York 10019, or by telephone at (212) 409-2000, or by email at
prospectus@ladenburg.com
. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Calidi Biotherapeutics
Calidi Biotherapeutics (NYSE American: CLDI) is a clinical-stage immuno-oncology company with proprietary technology designed to arm the immune system to fight cancer. Calidi's novel stem cell-based platforms are utilizing potent allogeneic stem cells capable of carrying payloads of oncolytic viruses for use in multiple oncology indications, including high-grade gliomas and solid tumors. Calidi's clinical stage off-the-shelf, universal cell-based delivery platforms are designed to protect, amplify, and potentiate oncolytic viruses leading to enhanced efficacy and improved patient safety. Calidi's preclinical off-the-shelf enveloped virotherapies are designed to target disseminated solid tumors. This dual approach can potentially treat, or even prevent, metastatic disease. Calidi Biotherapeutics is headquartered in San Diego, California. For more information, please visit
.
Forward-Looking Statements
This press release may contain forward-looking statements for purposes of the "safe harbor" provisions under the United States Private Securities Litigation Reform Act of 1995. Terms such as "anticipates," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predicts," "project," "should," "towards," "would" as well as similar terms, are forward-looking in nature, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements concerning upcoming key milestones (including the reporting of interim clinical results and the dosing of patients), planned clinical trials, and statements relating to the safety and efficacy of Calidi's therapeutic candidates in development. Any forward-looking statements contained in this discussion are based on Calidi's current expectations and beliefs concerning future developments and their potential effects and are subject to multiple risks and uncertainties that could cause actual results to differ materially and adversely from those set forth or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that Calidi is not able to raise sufficient capital to support its current and anticipated clinical trials, the risk that early results of clinical trials do not necessarily predict final results and that one or more of the clinical outcomes may materially change following more comprehensive review of the data, and as more patient data becomes available, the risk that Calidi may not receive FDA approval for some or all of its therapeutic candidates. Other risks and uncertainties are set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's Registration Statements filed with the SEC on (i) Form S-4 filed on August 2, 2023 and the corresponding prospectus filed on August 4, 2023, and (ii) on Form S-1 filed on April 15, 2024, and the Company's periodic reports filed with the SEC on (i) Form 10-K filed on March 15, 2024, (ii) Form 10-Q filed on May 14, 2024, (iii) Form 10-Q filed on August 13, 2024 and (iv) Form 10-Q filed on November 12, 2024. These reports may be amended or supplemented by other reports we file with the SEC from time to time.
For Investors:
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
CLDI@redchip.com
Source: Calidi Biotherapeutics, Inc.
