Analyst Bullish On Calidi Biotherapeutics, Newly Listed Cancer Treatment Player
Portfolio Pulse from Vandana Singh
Baird has initiated coverage on Calidi Biotherapeutics Inc (NYSE:CLDI) with an Outperform rating and a price target of $9. The company, which uses allogeneic stem cells to deliver oncolytic viruses to tumors for cancer treatment, recently went public via a SPAC. Early clinical data of its lead agent CLD-101 showed promising results in glioma patients. However, the company is operating with a brief cash runway of approximately 12 months, which is exerting downward pressure on the stock.
October 09, 2023 | 6:21 pm
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Baird's Outperform rating and $9 price target, along with promising early clinical data, could boost investor confidence in Calidi Biotherapeutics. However, financial challenges may exert downward pressure on the stock.
The Outperform rating and $9 price target from Baird, along with promising early clinical data, could boost investor confidence in Calidi Biotherapeutics. However, the company's brief cash runway of approximately 12 months is already exerting downward pressure on the stock, which could offset potential gains.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100