Calidi Biotherapeutics Plunges 4.81% Amid Bridge Financing

On July 11, 2025, Calidi's stock price dropped by 4.81% in pre-market trading, reflecting investor sentiment and market dynamics.

Calidi Biotherapeutics recently secured approximately $4.6 million through the exercise of multiple series of warrants. This financial maneuver involved the immediate exercise of Series A, B-1, C-1, D, E, and F warrants for 6,595,000 shares at a reduced price of $0.70 per share. In exchange, the company issued new unregistered warrants to purchase up to 6,595,000 shares at the same exercise price, exercisable after six months with a 5.5-year term. The proceeds will support clinical and pre-clinical programs, operating expenses, and working capital.

This transaction highlights Calidi's strategy to prioritize near-term cash needs over potential long-term dilution concerns. The reduced exercise price and the issuance of new warrants indicate the company's focus on securing operating capital to extend its operational runway. This type of bridge financing is common for clinical-stage biotechs, underscoring the capital-intensive nature of drug development. The funding will enable Calidi to continue operations while working toward significant clinical milestones that could support higher-valuation financing rounds in the future.