Financial Performance - Reported a net loss of $7.2 million, or $0.20 per share, for Q1 2024, compared to a net loss of $6.5 million, or $0.75 per share, for the same period in 2023[5] - Cash and restricted cash totaled $1.4 million as of March 31, 2024, down from $2.1 million as of December 31, 2023[8] - Total liabilities increased to $21.98 million as of March 31, 2024, up from $18.25 million as of December 31, 2023[16] Fundraising and Capital - Closed a public offering of 15,197,500 shares of common stock and accompanying warrants, raising gross proceeds of $6.1 million[4] - Anticipates initiating a Phase 1 trial with Northwestern University in Q3 2024, subject to additional capital being raised[18] Research and Development - Research and development expenses were $2.7 million for Q1 2024, compared to $2.6 million for the same period in 2023[13] - Unveiled the RTNova systemic platform, which has demonstrated preclinical ability to resist inactivation by human serum and target diverse tumor types[4] - Plans to present three posters at the 2024 ASCO Annual Meeting, including an update from the ongoing Phase 1 trial of CLD-101 in recurrent high-grade glioma[18] - Presented new data at the AACR Annual Meeting supporting the first-in-class use of stem cells to protect and potentiate antitumor virotherapies[18] General and Administrative Expenses - General and administrative expenses increased to $4.0 million for Q1 2024, up from $2.8 million in the comparable period of 2023[6]

The Company estimated the fair value of common stock through the date of the FLAG Merger using an appropriate valuation methodology, in accordance with the framework of the American Institute of Certified Public Accountants' Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation. Each valuation methodology includes estimates and assumptions that require the Company's judgment. These estimates and assumptions include a number of objective and subjective factors, ...

Exhibit 99.1 Calidi Biotherapeutics Reports Fourth Quarter and Full-Year 2023 Operating and Financial Results - City of Hope, a leader in cancer research and treatment, was awarded $5.3 million from California Institute for Regenerative Medicine (CIRM) to develop a treatment for metastatic ovarian cancer using Calidi's licensed lead asset, NeuroNova (CLD101) - Announced novel systemic enveloped oncolytic virotherapy platform, RTNova, designed to target diverse tumor types - Strengthened team with the appoin ...

8 CLD-400 (RTNova) for certain lung cancer and Metastatic Solid Tumors, Our pre-clinical program involving enveloped oncolytic viruses is in the discovery phase of development and builds upon our research of using cells to protect, potentiate and deliver virotherapies. Our CLD-400 platform is derived from the research conducted in our prior pre-clinical CLD-202 program. The RTNova platform utilizes an engineered vaccinia virus enveloped by a cell membrane, that is potentially capable of targeting lung cance ...

SAN DIEGO--(BUSINESS WIRE)--Calidi Biotherapeutics, Inc. (NYSEAM: CLDI) (“Calidi”), a clinical-stage biotechnology company developing a new generation of targeted immunotherapies, today announced an upcoming presentation to provide details on the development of the Company’s systemic enveloped oncolytic virotherapy platform which has the potential to provide a universal treatment for a broad range of advanced tumor types. Stephen Thesing, Chief Business Officer of Calidi, will be presenting at the Biocom Gl ...

On October 27, 2022, the California Institute for Regenerative Medicine ("CIRM") approved Calidi's application for a CIRM grant for Calidi's continued development of the SNV1 program. CIRM awarded Calidi approximately $3.1 million of CIRM funding conditioned that Calidi co-fund approximately $0.8 million under the requirements of the CIRM application. On December 28, 2022, Calidi received the Notice of Award from CIRM for this grant and Calidi expects to be able to draw the funds over the next 18 months bas ...

The Company established the initial fair value for the warrants on September 14, 2021, the date of the consummation of the Company's IPO. The Company used a lattice model and Monte Carlo simulation model to value the warrants. The Company allocated the proceeds received from (i) the sale of Units (which is inclusive of one share of Class A common stock and one-half of one Public Warrant), (ii) the sale of Private Placement Warrants, and (iii) the issuance of Class B common stock, first to the warrants based ...

For the quarterly period ended March 31, 2023 Delaware 86-2967193 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) Securities registered pursuant to Section 12(g) of the Act: None Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☒ As of May 15, 2023, there were 4,128,024 shares of the Company's Class A common stock, par value $0.0001 per share, and 5,750,000 shares of the Company's Class B common stock, par value $0.0001, issued an ...

Title of each classTrading Symbol(s)Name of each exchange on which registered Units, each consisting of one share of Class A common stock, $0.0001 par value per share, and one-half of one redeemable warrant Shares of Class A common stock, par value $0.0001 per share FLAG NYSE American LLC FLAGW NYSE American LLC (Mark One) OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FLAGU NYSE American LLC Redeemable warrants included as part of the units, each whole warrant exercisable for on ...

Table of Contents Title of each classTrading SymbolsName of each exchange on which registered Units, each consisting of one Class A common stock and one-half of one redeemable warrant FLAGU New York Stock Exchange Class A common stock, par value $0.0001 per share FLAG New York Stock Exchange Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share FLAGW New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washingto ...