Calidi Biotherapeutics Raises $6.9 Million to Advance Therapies
Calidi Biotherapeutics Secures Funding to Propel Innovations
Calidi Biotherapeutics, Inc. (NYSE AMERICAN: CLDI) has embarked on an exciting journey with the recent closing of a $6.9 million underwritten public offering. This funding milestone marks a significant step forward in the company's mission to develop groundbreaking targeted therapies capable of delivering genetic medicines to difficult-to-reach disease sites.
Details of the Public Offering
In this offering, Calidi sold a total of 1,922,764 common stock units. Each unit is composed of one share of common stock paired with a Series I warrant, while an additional 1,528,000 pre-funded warrant units were sold, each containing a pre-funded warrant along with a Series I warrant. Notably, this offering included 450,000 units purchased under the underwriters’ over-allotment option. The price set for each Common Stock Unit was $2.00, with Pre-Funded Units priced at $1.999. The Series I warrants granted allow for an exercise price of $2.00 per share and remain valid for five years.
Leadership and Management of the Offering
Calidi Biotherapeutics partnered with Ladenburg Thalmann & Co. Inc., serving as the sole book-running manager for the offering, supported by Laidlaw & Company (U.K.) Ltd. as co-manager. This collaboration reflects the strong confidence in Calidi's innovative therapeutic approaches.
Regulatory Compliance
The securities were provided through a registration statement (File No. 333-289670), formally authorized by the United States Securities and Exchange Commission (SEC). A final prospectus was submitted to the SEC and can be accessed electronically by those interested in understanding the detailed terms of the offering.
Innovative Therapeutic Approach of Calidi Biotherapeutics
At its core, Calidi Biotherapeutics is dedicated to advancing immuno-oncology therapies. The company's approach harnesses the power of its proprietary Redtail platform, which employs an engineered enveloped oncolytic virus. This innovative technology enables systemic delivery of therapeutic agents and targets metastatic disease sites, an approach designed to circumvent the body’s immune responses which typically hinder effective treatment. By focusing on delivering genetic medicines, Calidi aims to improve outcomes for patients with various challenging conditions, including non-small cell lung cancer and ovarian cancer.
Lead Candidate Development
Currently, the lead candidate from the Redtail platform is in the essential IND-enabling studies, targeting tumor types with high unmet medical needs. In addition, Calidi is exploring other virotherapies, focusing on localized administration options, further expanding its clinical pipeline to address specific injectable cancer indications.
Corporate Vision and Future Directions
Calidi Biotherapeutics is committed to pushing the boundaries of cancer treatment through scientific innovation and therapeutic advancement. The company’s headquarters in San Diego serves as the hub for its research and development initiatives. Through ongoing research and collaboration, Calidi aims to bring sophisticated solutions to patients facing cancer and other serious health challenges.
Frequently Asked Questions
What is the significance of the recent funding for Calidi Biotherapeutics?
The $6.9 million funding allows Calidi to advance its innovative therapies targeting various cancer types and enhance its research and development efforts.
What types of products is Calidi Biotherapeutics developing?
Calidi is developing targeted therapies utilizing its proprietary Redtail platform, focusing on genetic medicines to treat cancers like non-small cell lung cancer and ovarian cancer.
Who managed the recent public offering for Calidi Biotherapeutics?
Ladenburg Thalmann & Co. Inc. was the sole book-running manager, with Laidlaw & Company (U.K.) Ltd. serving as co-manager.
How does Calidi Biotherapeutics' technology work?
The company’s platform uses an engineered enveloped oncolytic virus designed to deliver therapies to metastatic sites effectively, enhancing treatment efficacy while avoiding immune clearance.
What is the long-term vision of Calidi Biotherapeutics?
Calidi aims to innovate in the field of immuno-oncology by developing effective therapies, improving patient outcomes, and overcoming existing treatment barriers in cancer healthcare.
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