SAN DIEGO—Allan Camaisa, CEO and Chairman of the Board at Calidi Biotherapeutics, Inc. (NASDAQ:CLDI), recently sold 10,000 shares of the company’s common stock. The shares were sold at a price of $1.62 each, amounting to a total transaction value of $16,200. Following this sale, Camaisa holds 66,712 shares directly. The transaction comes as CLDI shares have declined nearly 89% year-to-date, with the stock currently trading at $1.44. According to InvestingPro analysis, the company appears undervalued at current levels.
The transaction was reported for tax planning purposes, according to a footnote in the filing. Despite the sale, Camaisa retains significant potential ownership through various options and warrants, including shares held by AJC Capital, LLC and the Jamir Trust, where he holds positions of authority. InvestingPro subscribers have access to 10 additional key insights about CLDI’s financial health and market performance, crucial for understanding insider transactions like these.
In other recent news, Calidi Biotherapeutics has announced plans for a public offering of its common stock and potentially pre-funded warrants, with the details yet to be determined. Concurrently, the company has secured a $2 million investment through a registered direct offering and a private placement, issuing 2,050,000 shares of common stock to certain institutional investors. Additionally, the company has seen significant changes in its board of directors, with Alan Stewart elected as a Class I Director and George Ng opting not to stand for re-election. The company’s shareholders also ratified the appointment of Marcum LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
Baird has maintained an Outperform rating on Calidi Biotherapeutics, despite a reduced target price. The company has also implemented a 1-for-10 reverse stock split, raised approximately $2.1 million through the exercise of Series B and C warrants, and set terms for a public offering to raise an estimated $6.1 million. Additionally, Dr. George E. Peoples, a renowned cancer immunotherapy expert, has joined the board. In research news, Calidi Biotherapeutics presented new data at the American Association for Cancer Research Annual Meeting 2024, focusing on the effectiveness of antitumor virotherapies. Ladenburg Thalmann & Co. Inc. served as the exclusive placement agent for these transactions. These are among the recent developments at Calidi Biotherapeutics.
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