Calidi Biotherapeutics Surges on 3Q Report, Retreats on Stock-Offer News

Dow Jones11-14

By Josh Beckerman

Shares of Calidi Biotherapeutics surged after the immuno-oncology company reported quarterly results but lost some of their gains after it announced a proposed stock offering.

The stock gained 60% to $3.38 in the regular session Wednesday after its Tuesday earnings report. In after-hours trading, shares were recently down 24% to $2.58.

On Tuesday, Calidi reported a wider net loss and said it "continues to advance our development programs while expanding our industry-leading position in targeted antitumor virotherapies." Loss per share narrowed, reflecting a higher number of shares outstanding.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 13, 2024 18:58 ET (23:58 GMT)

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