24/7 Market News Snapshot 12 November, 2024 – Calidi Biotherapeutics, Inc. (NYSE:CLDI)

November 12, 2024

DENVER, Colo., 12 November, 2024 (247marketnews.com) – (NYSE:CLDI) are discussed in this article.
Calidi Biotherapeutics, Inc. (CLDI), a clinical-stage biotechnology company, has recently captured market attention with its stock surging 24.55%, currently trading at $2.08 after opening at $1.65. This notable increase reflects the heightened investor interest and optimism surrounding the company’s innovative solutions in the biotherapeutic field. The trading volume of 2.83 million shares underscores a robust engagement from market participants keen on exploring potential opportunities in the biopharma sector.

In a significant development, Calidi has received clearance from the U.S. Food and Drug Administration (FDA) for its Investigational New Drug (IND) application concerning its NeuroNova (CLD-101) clinical trial. This trial is focused on treating newly diagnosed high-grade glioma, positioning Calidi as a leader in antitumor virotherapy advancements. CEO Allan Camaisa expressed enthusiasm about initiating the Phase 1b/2 trial in early 2025, highlighting this milestone as a testament to the company’s dedication to innovate in the oncology domain.

The company has also been active in presenting data on its RTNova (CLD-400) system, an antitumor virotherapy platform designed to effectively target multiple tumor sites while improving the tumor immune microenvironment. These presentations took place at notable industry events such as the International Oncolytic Virotherapy Conference.

Furthermore, Calidi secured $2 million from a recent registered direct offering and private placement, reflecting solid investor confidence in its strategic direction. Despite reporting a net loss of $5.1 million for the third quarter of 2024, the company is focused on operational efficiencies, marking a reduction in research and development costs from the previous year. With ongoing advancements and substantial institutional support, Calidi Biotherapeutics stands poised to enhance the landscape of cancer treatment through innovative virotherapy.

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