HC Wainwright Initiates Coverage of Calidi Biotherapeutics with Buy Rating

Calidi Biotherapeutics on Track to Lead in Oncolytic Virus Space

HC Wainwright, a reputable investment bank, has initiated coverage of Calidi Biotherapeutics (NYSEThe New York Stock Exchange (NYSE) is a global financial powerhouse, and at the heart of its performance measurement stands the NYSE Composite Index (NYA). This comprehensive index... More: CLDI) with a buy rating, emphasizing the company’s promising potential to become a global leader in the oncolytic virus arena. Calidi’s unique approach, combining innovative oncolytic virus constructs with an elegant stem cell-based delivery method, has caught the attention of investors and analysts alike.

Oncolytic virus technology is a type of cancer treatment that utilizes viruses to selectively target and destroy cancer cells. These viruses are genetically modified to infect and replicate within cancer cells, leading to their destruction. The concept behind oncolytic viruses is to harness the natural ability of viruses to replicate and kill cells, while sparing normal healthy cells. The viruses used in oncolytic therapy can be naturally occurring or genetically engineered. They are designed to infect cancer cells and replicate within them, eventually causing their death. This replication process also generates more viruses that can infect neighboring cancer cells, leading to a cascade effect and destruction of the tumor. Oncolytic viruses have several potential advantages over traditional cancer treatments. They can directly kill cancer cells, shrink tumors, and stimulate an immune response against cancer. They can also be used in combination with other treatments like chemotherapy or immunotherapy to enhance their effectiveness. Currently, several oncolytic viruses are being studied and developed for clinical use, including the herpes simplex virus, vaccinia virus, reovirus, and adenovirus, among others. Clinical trials have shown promising results, and some oncolytic therapies have been approved by regulatory authorities for the treatment of certain types of cancers.

However, it is important to note that oncolytic viruses are still a relatively new and developing technology, and more research is needed to fully understand their potential and limitations.

Promising Price Target

In its coverage initiation report, HC Wainwright set a price target of $11 for Calidi Biotherapeutics stock. This bullish outlook reflects the investment bank’s confidence in the company’s innovative approach and its potential to make significant strides in the oncolytic virus field.

SuperNova Technology and Clinical Development Milestones

Calidi Biotherapeutics (CLDI) has recently secured a new U.S. patent for its SuperNova technology, marking a significant milestone for the biotech company. This technology represents a valuable asset in its quest to advance cutting-edge treatments in the field of oncology.

Advancing Clinical Trials

Calidi has also provided updates on its upcoming clinical development milestones. The company is gearing up to dose the first patient in a Phase 1/2 study for its drug CLD-101. This study is focused on treating newly diagnosed high-grade glioma and is scheduled to commence during the first half of 2024. Additionally, Calidi anticipates dosing the first patient in a Phase 1 study of its drug CLD-201 in the second half of 2024.

Bottom-line: Calidi Biotherapeutics’ commitment to innovative approaches in the field of oncolytic viruses has garnered recognition from HC Wainwright, as reflected in their buy rating and optimistic price target. With SuperNova technology and promising clinical trials on the horizon, Calidi is well-positioned to contribute to advancements in cancer treatment, potentially changing the landscape of oncology in the coming years.