Calidi Biotherapeutics, Inc.

AI-generated fair value estimate for this company.

Method: Net-cash-plus-pipeline-option-value approach: $4.07M cash less $1.94M debt gives roughly $2.13M net cash, plus a risk-adjusted option value of about $2.5M for the Phase 1b/2 CLD-101 oncolytic-virus glioma program and earlier-stage CLD-201/CLD-401 candidates; the $4.63M total was divided by 3.70M shares outstanding following the September 2026 $1.17/share offering.

Reasoning: As a pre-revenue clinical-stage biotech that NYSE American flagged for a stockholders'-equity deficiency, a DCF is not meaningful; net cash plus a heavily risk-adjusted value for its early oncolytic-virus pipeline is the more defensible approach for a distressed microcap biotech like this.