Calidi Biotherapeutics(CLDI) - 2025 Q2 - Quarterly Results

Calidi Biotherapeutics Second Quarter 2025 Earnings Release Calidi Biotherapeutics announced its second quarter 2025 financial results, detailing significant operational progress in its clinical programs, including positive preclinical data and FDA Fast Track Designation, alongside a strengthened financial position Operational Highlights Calidi Biotherapeutics achieved significant operational milestones in Q2 2025, including positive preclinical data for CLD-401, FDA Fast Track Designation for CLD-201, and a $4.6 million capital raise - Presented positive preclinical data for CLD-401 at the American Society of Clinical Oncology (ASCO), demonstrating enhanced biological efficacy and the ability to avoid immune clearance, enabling systemic administration for metastatic disease, with an IND filing expected by the end of 2026[5][6] - Received FDA Fast Track Designation for CLD-201, a first-in-class stem-cell loaded intratumoral viral therapy for treating soft tissue sarcoma, with an IND for a Phase 1 study successfully opened in Q1-2025[5][6] - Raised $4.6 million in gross proceeds from a warrant inducement offering with existing investors, bringing the total gross proceeds raised in 2025 to $15.7 million[5][6] Financial Results Calidi Biotherapeutics reported a reduced net loss of $5.7 million in Q2 2025, with increased R&D expenses and decreased G&A expenses, and a cash position of $5.3 million Q2 2025 vs Q2 2024 Financial Performance | Financial Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Net Loss Attributable to Common Stockholders | $5.7 million | $7.4 million | Decreased Loss | | Net Loss Per Share | $1.99 | $16.75 | Decreased Loss | | Research and Development Expenses | $2.6 million | $2.2 million | Increased 18.2% | | General and Administrative Expenses | $3.1 million | $3.6 million | Decreased 13.9% | Cash Position | Date | Cash | Restricted Cash | | :--- | :--- | :--- | | June 30, 2025 | $5.3 million | $0.1 million | | December 31, 2024 | $9.6 million | $0.2 million | Financial Statements The condensed consolidated financial statements provide a detailed overview of the company's financial position as of June 30, 2025, and operational results for the quarter, showing $9.4 million in total assets and $7.3 million in total liabilities Condensed Consolidated Balance Sheets This section details the company's financial position, presenting assets, liabilities, and equity as of June 30, 2025, and December 31, 2024 Balance Sheet Summary (in thousands) | Account | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | Total Assets | $9,351 | $14,182 | | Total Current Assets | $6,049 | $10,227 | | Total Liabilities | $7,275 | $12,214 | | Total Current Liabilities | $5,353 | $9,496 | | Total Equity | $2,076 | $1,968 | Condensed Consolidated Statements of Operations This section outlines the company's operational performance, detailing expenses and net loss for the three months ended June 30, 2025, and 2024 Statement of Operations Summary for Three Months Ended June 30 (in thousands) | Account | 2025 (Unaudited) | 2024 | | :--- | :--- | :--- | | Research and development | $(2,593) | $(2,167) | | General and administrative | $(3,071) | $(3,605) | | Total operating expense | $(5,664) | $(5,772) | | Loss from operations | $(5,664) | $(5,772) | | Net Loss | $(5,761) | $(5,767) | Company Overview Calidi Biotherapeutics is a clinical-stage immuno-oncology company leveraging its proprietary Redtail platform to develop targeted genetic medicine therapies for metastatic cancers - Calidi is a clinical-stage immuno-oncology company developing targeted therapies to deliver genetic medicines to distant disease sites[9] - The proprietary Redtail platform features an engineered enveloped oncolytic virus designed for systemic delivery to target metastatic sites, shielding the virus from immune clearance[9] - The lead candidate from the Redtail platform is in IND-enabling studies and targets non-small cell lung cancer, ovarian cancer, and other tumors with high unmet medical need[10]