Calidi Biotherapeutics Inc. (NYSE American: CLDI) has announced a definitive agreement for the immediate cash exercise of outstanding warrants, generating approximately $4.6 million in gross proceeds. This transaction involves the issuance of 6,595,000 shares of common stock at a reduced price of $0.70 per share, with Ladenburg Thalmann & Co. Inc. serving as the exclusive placement agent.
The proceeds are designated to bolster Calidi's clinical and pre-clinical programs, operational needs, and working capital. This financial injection is pivotal for the company as it advances its proprietary stem cell-based platforms, which are engineered to optimize the delivery of oncolytic viruses for treating a range of oncology conditions, including high-grade gliomas and solid tumors. Calidi's technology represents a novel approach to enhancing the effectiveness and safety of cancer therapies, offering potential breakthroughs for patients with metastatic disease.
For further information on this development, visit https://ibn.fm/duWdz.
