Calidi Biotherapeutics, Inc. - CLDI STOCK NEWS

Calidi Biotherapeutics Inc. (NYSEAM: CLDI) reported its Q2 2024 financial results and recent business highlights. Key developments include:

1. Launched Nova Cell subsidiary with a $2 million investment from Dr. Ronald Rigor to advance AAA stem cell programs.

2. Strengthened team with appointments of Dr. George E. Peoples to the Board of Directors and Dr. Mark Gilbert to the Medical Advisory Board.

3. Received a new U.S. patent for SuperNova technology, enhancing the CLD-201 program.

4. Reported a net loss of $5.8 million ($1.40 per share) for Q2 2024, compared to $12.5 million ($14.24 per share) in Q2 2023.

5. R&D expenses were $2.2 million, down from $3.2 million in Q2 2023.

6. Cash position of $0.8 million as of June 30, 2024.

RedChip Companies will air interviews with GreenPower Motor Company Inc. (Nasdaq:GP) and Calidi Biotherapeutics, Inc. on Bloomberg TV on August 3, 2024, at 7 p.m. ET. Fraser Atkinson, CEO of GreenPower, will provide a corporate update on the show. GreenPower is a leading manufacturer of all-electric, zero-emission medium and heavy-duty vehicles for various sectors including cargo, delivery, shuttle, transit, and school buses.

The company has delivered over 700 vehicles to date and maintains a significant order book. GreenPower's competitive positioning, sales growth, and market dynamics highlight its potential for sustained growth in the EV industry. The interview will be accessible online through a provided link.

Calidi Biotherapeutics (NYSE American: CLDI) has launched a new subsidiary, Nova Cell, Inc., and secured a $3 million investment from Dr. Ronald Rigor. The investment includes $2 million for Nova Cell and $1 million for Calidi's oncology pipeline. Nova Cell will focus on advancing Calidi's Adult Adipose Allogeneic (AAA) stem cell programs for regenerative medicine applications.

Dr. Rigor, a Board-Certified Dermatologist and Stem Cell Therapy expert, joins Calidi's Scientific and Medical Advisory Board. He receives exclusive rights to use AAA stem cells and Calidi's CLD-201 product in the Philippines. Nova Cell aims to tap into the global stem cell therapy market, projected to reach $31.4 billion by 2030. The company plans to begin generating revenue by supplying AAA stem cells to Dr. Rigor's patients in 2025.

Calidi Biotherapeutics (NYSE American: CLDI) has been granted U.S. Patent No. 12,036,278 for its SuperNova technology platform. This patent, titled 'Smallpox Vaccine for Cancer Treatment,' covers methods and compositions related to cancer immunotherapy, specifically combining smallpox vaccines with various stem cell types.

The patent strengthens Calidi's intellectual property portfolio and supports the advancement of its CLD-201 program into clinical trials. It broadens previously allowed claims to include 21 smallpox vaccine virus strains and 19 different stem cell types. The SuperNova platform aims to shield viral payloads from the immune system, enhancing delivery to tumor sites and improving the therapeutic efficacy of oncolytic viruses.

Calidi plans to submit an IND to initiate a first-in-human clinical trial of this off-the-shelf allogeneic therapy, focusing on patients with advanced solid tumors.

Calidi Biotherapeutics (NYSE American: CLDI) has appointed Dr. Mark Gilbert, scientist emeritus at the National Institutes of Health (NIH), to its Medical Advisory Board. Dr. Gilbert, former Chief of the Neuro-Oncology Branch at NIH, brings extensive experience in brain tumor research and clinical trials. His addition expands the board to eight members, joining other renowned oncologists and scientists.

Dr. Gilbert expressed interest in Calidi's SNV1 and NNV1 therapies, noting their potential to address rare cancers affecting about 25% of cancer patients. Calidi's CEO, Allan Camaisa, highlighted Dr. Gilbert's expertise in developing multi-institutional studies and partnerships with national centers of excellence, which could advance Calidi's research efforts.

Calidi Biotherapeutics (NYSE American: CLDI) will implement a 1-for-10 reverse stock split, effective July 15, 2024. The stock will trade on a split-adjusted basis under the same ticker, CLDI. This decision, approved by shareholders on June 6, 2024, aims to reduce outstanding shares to one-tenth of the pre-split amount.

No fractional shares will be issued; fractional entitlements will be rounded up. The split will adjust equity awards, warrants, and exercise prices accordingly. Shareholders with book-entry or brokerage accounts need not take action, while those with certificate shares will receive instructions from Computershare.

Calidi Biotherapeutics (NYSE American: CLDI), a clinical-stage biotech firm focused on antitumor virotherapies, has appointed Dr. George E. Peoples to its Board of Directors, effective July 1, 2024. Dr. Peoples is renowned in cancer immunotherapy, with over 20 years of experience in developing and testing cancer vaccines. He is the Founder and Director of the Cancer Vaccine Development Program and has held significant roles in both military and clinical settings. His expertise is expected to aid Calidi in advancing their cancer immunotherapies into later-stage clinical trials. CEO Allan Camaisa highlighted Dr. Peoples’ pioneering work and extensive experience as key assets for the company’s growth.

Calidi Biotherapeutics, a clinical-stage biotechnology firm, is hosting a live investor webinar on June 13, 2024, at 4:15 p.m. ET. The event, organized by RedChip Companies, will feature insights from the Chief Business Officer, Stephen Thesing, and CFO, Andrew Jackson. Calidi focuses on developing next-generation immunotherapies, specializing in oncolytic virotherapy (OV) to target and eliminate cancer cells. Their proprietary cell-based technologies protect OVs from immune system elimination and modify the tumor microenvironment for enhanced therapeutic outcomes. The webinar will also include a live Q&A session. Register here: Webinar Registration.

Calidi Biotherapeutics has partnered with SIGA Technologies to advance its RTNova virotherapy for lung cancer and metastatic solid tumors. RTNova leverages a vaccinia virus enveloped by a human cell membrane to evade immunity and enhance therapeutic functions. SIGA will supply TPOXX, an antiviral agent against vaccinia virus, to support RTNova's development. This collaboration aims to create a universal treatment for all tumor types and will initially focus on lung cancer and metastatic solid tumors. RTNova's novel approach allows for easy administration and a broader patient reach. The partnership offers a safety mechanism for clinical trials, ensuring better regulatory compliance and patient safety.