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Calidi Biotherapeutics, Inc. logo
CLDI$0.6899+4.85%

Calidi Biotherapeutics, Inc.

Sector: Biological Products, (No Diagnostic Substances)Industry: BiotechnologyCountry: USExchange: NYSE

Mkt Cap$2.54M
Float & O/S
Inst Own

DilutionScan read 46 of Calidi Biotherapeutics, Inc.'s SEC filings and found 27 warrant series, 1 ATM program, 1 equity line, 3 shelf registrations, 4 S-1 registrations and 3 completed offerings on file for CLDI. The latest dilution event on file is an offering on Sep 21, 2026. Analysis updated Oct 11, 2026.

Signal8 Summary

CLDI

Going-concern warning, under 1 month runway

Business
Weak$0 revenue, $19.9M net loss, going-concern warning
Stock risk
High$2.6M micro-cap, reverse split, shares +547% YoY

Snapshot

Calidi is a clinical-stage biotech with no revenue and a $19.9M net loss in FY 2025. Cash sits at just $4.1M against $1.9M of debt, and Signal8 models roughly half a month of runway.

What's Happening Right Now

  • : Calidi will present new preclinical data on CLD-401 and its In Situ T-cell engager programs at ESMO Congress 2026 in Madrid, Oct 23-27, 2026; CLD-401 remains in IND-enabling studies.
  • : On Sep 21, 2026, NYSE American notified Calidi it fails stockholders' equity listing standards, with no exemption available; the company must submit a compliance plan by Oct 21, 2026 or face delisting.
  • : Calidi closed a $1.2 million registered direct offering on Sep 21, 2026, selling shares at $1.17 each, with a 45-day standstill on new equity issuances and 60-day officer lock-ups.
  • : Raised $1.20M in gross proceeds through a registered direct offering.
  • : Calidi's 10-Q for the quarter ended Jun 30, 2026 disclosed substantial doubt about continuing as a going concern, $4.1 million cash against $8.5 million of first-half burn, a $149.9 million accumulated deficit, and a completed 1-for-16 reverse split.
  • : Calidi received positive pre-IND feedback from the FDA for CLD-401, targeting first patient dosing in Q1 2027, alongside a Q2 2026 net loss of $4.2 million and $4.3 million in cash.
  • : Sold $900K net / 491K shares through its at-the-market program, as stated for Jul 1, 2026 to Aug 10, 2026.
  • : Sold $2.30M of stock / 876K shares through its at-the-market program, as stated for Jan 1, 2026 to Jun 30, 2026.

Raise routes on file: active ATM + effective shelf + effective S-1 · latest dilution event 43 days ago

Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need

AI dilution summary

The dominant contractual driver and its mechanism, then each further driver ranked.

Latest dilution event

Sep 21, 2026 · Offering

How we read filings

Every warrant, convertible, ATM and shelf, cited to the filing

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Share count and cash history

Shares outstanding, potential dilution and cash over time

S-1 · 4

What is this?

Size, shares registered and dates with Pro

S-1 · primary offering

Issued 2024

Completed

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 registration

Issued 2024

Effective

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · primary offering

Issued 2025

Completed

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

S-1 · resale registration

Effective

Proposed maximum

Shares registered

Filed
Effective
Filing link and full terms

Warrants · 27

What is this?

Exercise price, shares and dates with Pro

Warrant

Issued 2023

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2023

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Placement Agent Warrants (April 18, 2024)

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Placement Agent Warrants (June 3, 2024)

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

ATM · 1

What is this?

Capacity, sold to date and agent with Pro

ATM program

Issued 2024

Active

Total capacity

Sold to date

Remaining capacity
Sales agent
Agreement date
Commission
Filing link and full terms

Equity line · 1

What is this?

Commitment, pricing and sold to date with Pro

Equity line

Issued 2023

Terminated

Commitment

Sold to date

Remaining
Agreement date
Term ends
Discount
Filing link and full terms

Shelf · 3

What is this?

Capacity, dates and baby-shelf status with Pro

S-3 shelf registration

Issued 2024

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

S-3 shelf registration

Issued 2025

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

S-3 shelf registration

Issued 2025

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

Offerings · 3

What is this?

Proceeds, price, shares and agent with Pro

Registered direct offering

Issued 2026

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

Public offering

Issued 2026

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

Public offering

Issued 2025

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

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Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.

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