Calidi Biotherapeutics, Inc. (NYSE American: CLDI) reported financial results for the third quarter ended September 30, 2026, and announced several corporate developments. The company reported a net loss attributable to common stockholders of $3.6 million for the quarter, a significant improvement compared to the $10.8 million loss reported in the same period of 2025.
Research and development expenses for the third quarter of 2026 were $2.7 million, while general and administrative expenses were $1.6 million. The company noted that general and administrative expenses were reduced by $1.0 million, or 39%, in the third quarter of 2026 versus the prior year.
As of September 30, 2026, Calidi held $3.9 million in cash and $0.2 million in restricted cash. This represents a decrease from the $5.6 million in cash and $0.2 million in restricted cash reported as of December 31, 2025.
In terms of business development, Calidi presented two posters at the European Society for Medical Oncology (ESMO) Congress 2026 on October 24, 2026. The presentations showcased new data from the company's RedTail platform. Preclinical data on the lead candidate, CLD-401, showed complete tumor eradication in 80% of EMT6 breast cancer tumor-bearing mice versus 0% in the control arm. The data also indicated that CLD-401 retains antitumor activity with systemic intravenous or localized intratumoral administration in an MB49 bladder cancer model.
The company also presented preclinical data from its in situ T-cell engager (TCE) platform, including CLD-501 (TROP-2-targeted) and CLD-502 (EpCAM-targeted). Following intravenous delivery, the platform generated approximately 10 ng/mL of EpCAM-targeted TCE directly within tumors.
On November 6, 2026, Calidi executed a restructuring plan, primarily through a reduction in headcount, which is expected to save $3 million on an annualized basis. Additionally, the company received $1.2 million in gross proceeds from an at-the-market registered direct offering that closed on September 18, 2026.
