Calidi Biotherapeutics Closes $6M Public Offering

Biotech company raises funds for clinical trials of targeted genetic medicines

Published on Mar. 10, 2026

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Calidi Biotherapeutics, a biotechnology company developing targeted genetic therapies, announced the closing of a $6 million underwritten public offering. The company sold shares of common stock as well as various series of warrants, including the full exercise of the underwriter's over-allotment option. The proceeds will support Calidi's ongoing clinical development programs, including its lead candidate CLD-401 targeting lung, head, and neck cancers.

Why it matters

The successful public offering provides Calidi Biotherapeutics with additional capital to advance its pipeline of targeted genetic medicines, which have the potential to treat hard-to-reach metastatic cancers. As a small biotech, securing funding is critical to progressing its novel oncolytic virus and BiTE therapies through clinical trials.

The details

In the offering, Calidi sold 12,094,631 shares of common stock (or pre-funded warrants) as well as three series of warrants totaling 12,094,631 shares. The warrants have exercise prices of $0.50 per share and various expiration dates ranging from 6 months to 5 years. The warrants also include provisions to reset the exercise price on certain future dates. Ladenburg Thalmann & Co. Inc. acted as the sole book-running manager for the transaction.

  • The offering closed on March 9, 2026.

The players

Calidi Biotherapeutics

A biotechnology company pioneering the development of targeted genetic medicines, including its lead candidate CLD-401 for lung, head, and neck cancers.

Ladenburg Thalmann & Co. Inc.

The sole book-running manager for Calidi's public offering.

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What’s next

Calidi plans to use the proceeds from the offering to advance its pipeline of targeted genetic medicines, including IND-enabling studies for its lead candidate CLD-401.

The takeaway

Calidi's successful public offering demonstrates investor confidence in the company's novel approach to developing targeted therapies for hard-to-treat cancers. The additional capital will allow Calidi to accelerate its clinical development programs as it works to bring new treatment options to patients in need.