Calidi Biotherapeutics Plunges 40% on Capital Raise

On August 20, 2025, Calidi's stock experienced a significant drop of 40% in pre-market trading, marking a substantial decline in its share price.

Calidi Biotherapeutics recently priced a $6 million public offering, which included common stock units at $2.00 per unit and pre-funded warrant units at $1.999 per unit. This move is part of the company's efforts to raise capital and support its ongoing operations and development projects.

Calidi Biotherapeutics has also announced the pricing of an underwritten public offering for gross proceeds of $6 million, prior to deducting underwriting commissions. This offering is aimed at providing the company with additional financial resources to pursue its strategic initiatives and expand its market presence.

In recent trading sessions, Calidi Biotherapeutics has faced significant volatility, with a notable decline of 20.6% in extended trading. This drop was attributed to a 1-for-12 reverse split and weak earnings forecasts, which have raised concerns among investors about the company's financial health and future prospects.