Calidi Biotherapeutics Inc. (NYSE American: CLDI), a clinical-stage biotechnology company at the forefront of developing targeted genetic medicine delivery platforms, has announced a significant corporate action. The company will execute a 1-for-12 reverse stock split of its common stock, effective August 5, 2025. This strategic move is designed to optimize market dynamics, broaden investor appeal, and align trading conditions more closely with the interests of its shareholders.
The reverse stock split, which received shareholder approval on July 9 and was ratified by the board on July 11, will see every 12 pre-split shares converted into one post-split share. Fractional shares will be rounded up to the nearest whole share at the participant level. Importantly, this adjustment will proportionately affect outstanding options, warrants, and equity plan shares, while leaving the par value and the number of authorized shares unchanged. Trading of the split-adjusted shares will commence on the NYSE American under the existing ticker symbol 'CLDI', with a new CUSIP number of 320703 408.
This development is crucial for investors and the biotechnology industry as it reflects Calidi Biotherapeutics' commitment to strengthening its market position and enhancing shareholder value. Reverse stock splits are often employed by companies to meet stock exchange listing requirements or to make their stock more attractive to institutional investors. For Calidi, this move could signal a pivotal step towards achieving its long-term strategic goals, including the advancement of its proprietary stem cell-based platforms for oncology treatments.
Calidi Biotherapeutics is pioneering in the field of immuno-oncology, with innovative technology aimed at empowering the immune system to combat cancer. Its novel platforms utilize allogeneic stem cells to deliver oncolytic viruses, targeting high-grade gliomas and solid tumors among other indications. The company's efforts in developing off-the-shelf, universal cell-based delivery platforms and enveloped virotherapies represent a dual approach to potentially treating or preventing metastatic disease, marking a significant advancement in cancer therapy.
For more details on this announcement, interested parties can view the full press release here.
