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CLDICalidi Biotherapeutics, Inc.

Is Calidi Biotherapeutics struggling financially?

Yes, by its own account. Calidi Biotherapeutics told the SEC on 14 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

15/100

Critical

Cries for help

  • Reverse stock split

    Even if the Company’s drug development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales.

    Form 10-Q, filed 14 May 2026. Read it on SEC.gov

Signs of a way out

  • Regulatory win

    In July 2025 we were granted Fast Track Designation to CLD-201 by the U.S. Food and Drug Administration (“FDA”) for the treatment of patients with soft tissue sarcoma.

    Form 10-Q, filed 14 May 2026. Read it on SEC.gov

Sector
Biotech/Pharma
Market cap
$3.5M
Source filing
10-Q 14 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 1month

    If the burn speeds up

    Empty by Jul 2026

  • 2months

    If it eases off

    Empty by Aug 2026

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$4.3M

÷

Cash burned over the last 12 months

$33.9M

What Calidi Biotherapeutics told the SEC

…losses and negative cash flows to continue for the foreseeable future. The Company estimates that based on the Company’s liquidity resources, there is substantial doubt about the Company’s ability to continue as a going concern within 12 months from the date of issuance of these unaudited condensed consolidated financial statements. The accompanying unaudited condensed consolidated financial statements have…

Calidi Biotherapeutics, Inc., Form 10-Q, filed 14 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

Other Biotech/Pharma companies that filed the doubt