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Calidi Biotherapeutics Reports Fourth Quarter and Full-Year 2025 Financial Results and Recent Operational Highlights

  • Calidi Biotherapeutics announced a partnership with Australian CRO Avance Clinical to accelerate the first-in-human clinical trial initiation for its lead asset CLD-401.
  • The company received positive FDA feedback through Type D interactions regarding its manufacturing & analytical approaches for CLD-401 & expects to file an IND by the end of 2026.
  • Calidi partnered with Matica Bio for the GMP manufacturing of CLD-401 at Matica's purpose-built facility in College Station, Texas.
  • New data on in situ T-cell engagers (TCEs) combined with T-cell activating agents was presented at the 2026 AACR-IO conference.
  • The company raised $6.5 million in total proceeds from a Q1-2026 public offering ($6.0 million) & Q4-2025 ATM sales ($0.5 million).
  • Q4 2025 net loss was $4.1 million ($0.57 per share) compared to $4.1 million ($3.23 per share) in Q4 2024.
  • Full-year 2025 net loss was $25.6 million ($5.95 per share) compared to $23.8 million ($35.70 per share) in 2024.
  • Research and development expenses increased to $9.7 million for 2025 from $8.9 million in 2024.
  • General and administrative expenses decreased to $10.5 million for 2025 from $12.9 million in 2024.
  • Cash balances stood at approximately $5.6 million as of December 31, 2025, down from $9.6 million in the prior year.