$CLDI

Calidi Biotherapeutics, Inc.

CIK:0001855485|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
OPERATING EXPENSES
Research and development	$ 2,558,000	$ 2,593,000	$ 5,145,000	$ 5,018,000
General and administrative	1,592,000	3,071,000	3,192,000	5,708,000
Total operating expense	4,150,000	5,664,000	8,337,000	10,726,000
Loss from operations	(4,150,000)	(5,664,000)	(8,337,000)	(10,726,000)
OTHER INCOME (EXPENSE), NET
Change in fair value of other liabilities and derivatives			47,000	16,000
Grant income				50,000
Other income (expense), net	31,000	(22,000)	104,000	(32,000)
Total other income (expense), net	(5,000)	(93,000)	78,000	(90,000)
LOSS BEFORE INCOME TAXES	(4,155,000)	(5,757,000)	(8,259,000)	(10,816,000)
Income tax provision	(5,000)	(4,000)	(9,000)	(7,000)
NET LOSS	(4,160,000)	(5,761,000)	(8,268,000)	(10,823,000)
Net loss attributable to noncontrolling interest		(46,000)		(122,000)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST	(4,160,000)	(5,715,000)	(8,268,000)	(10,701,000)
Deemed dividend on warrants			(309,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (4,160,000)	$ (5,715,000)	$ (8,577,000)	$ (10,701,000)
Net loss per share, basic	$ (2.94)	$ (31.75)	$ (8.31)	$ (66.47)
Net loss per share, diluted	$ (2.94)	$ (31.75)	$ (8.31)	$ (66.47)
Weighted average common shares outstanding, basic	1,416	180	1,032	161
Weighted average common shares outstanding, diluted	1,416	180	1,032	161
Nonrelated Party [Member]
OTHER INCOME (EXPENSE), NET
Interest expense	$ (29,000)	$ (29,000)	$ (62,000)	$ (63,000)
Change in fair value of other liabilities and derivatives	(1,000)	(18,000)	44,000	14,000
Related Party [Member]
OTHER INCOME (EXPENSE), NET
Interest expense	(6,000)	(23,000)	(11,000)	(61,000)
Change in fair value of other liabilities and derivatives		$ (1,000)	$ 3,000	$ 2,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (8,268)	$ (10,823)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	864	801
Stock-based compensation	388	1,129
Change in fair value of other liabilities and derivatives	(47)	(16)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(327)	(156)
Accounts receivable	15
Accounts payable	306	(733)
Accrued expenses and other current liabilities	(733)	(1,449)
Operating lease right of use liability	(667)	(764)
Net cash used in operating activities	(8,469)	(12,011)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of machinery and equipment	(38)	(64)
Net cash used in investing activities	(38)	(64)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from public offerings	5,369	3,793
Proceeds from at the market offering	1,989	2,780
Proceeds from exercise of pre-funded warrants	10	3
Repayment of principal on related party term notes payable		(1,625)
Payment of financing costs	(289)	(381)
Proceeds from registered direct offering		3,503
Repayment of principal on term notes payable		(200)
Repayment of principal on related party bridge loan payable		(200)
Repayment of financing lease obligations	(91)	(34)
Net cash provided by financing activities	6,988	7,639
Effect of exchange rate changes on cash	(10)	6
NET DECREASE IN CASH AND RESTRICTED CASH	(1,529)	(4,430)
CASH AND RESTRICTED CASH BALANCE:
At beginning of the period	5,819	9,809
At end of the period	4,290	5,379
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	107	837
Cash paid for income taxes	4	7
SUPPLEMENTAL SCHEDULE OF NONCASH FINANCING AND INVESTING ACTIVITIES
Deemed dividend on warrants	309
Financing fees included in accounts payable and accrued liabilities	98
Machinery and equipment acquired through financing leases	141	152
Proceeds receivable from at the market offering	$ 269

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash	$ 4,071	$ 5,600
Prepaid expenses and other current assets	1,357	656
Total current assets	5,428	6,256
NONCURRENT ASSETS
Machinery and equipment, net	775	781
Operating lease right-of-use assets, net	992	1,682
Other noncurrent assets	9	138
TOTAL ASSETS	7,204	8,857
CURRENT LIABILITIES
Finance lease liability, current	167	111
Operating lease right-of-use liability, current	1,009	1,405
Total current liabilities	3,237	3,935
NONCURRENT LIABILITIES
Operating lease right-of-use liability, noncurrent	5	277
Finance lease liability, noncurrent	161	171
Promissory note	600	600
Warrant liability	63	107
Related party warrant liability	5	8
TOTAL LIABILITIES	4,071	5,098
Commitments and contingencies (Note 11)
TOTAL EQUITY
Common stock, $0.0001 par value, 330,000 shares authorized; 2,083 and 451 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
Additional paid-in capital	153,048	145,393
Accumulated other comprehensive loss, net of tax	(26)	(13)
Accumulated deficit	(149,889)	(141,621)
Total equity	3,133	3,759
TOTAL LIABILITIES AND TOTAL EQUITY	7,204	8,857
Nonrelated Party [Member]
CURRENT LIABILITIES
Accounts payable	930	595
Accrued expenses and other current liabilities	1,131	1,276
Related Party [Member]
CURRENT LIABILITIES
Accounts payable		18
Accrued expenses and other current liabilities		$ 530