Why Calidi Biotherapeutics is Moving Higher Monday
Calidi Biotherapeutics, Inc. (NYSE:CLDI) stock is trading higher after the company announced Monday its collaborating with SIGA Technologies (NASDAQ:SIGA).
The Details: Calidi and SIGA are partnering in order to advance Calidi’s RTNova virotherapy for lung cancer and metastatic solid tumors.
Calidi will focus on the development of RTNova, an enveloped vaccinia virus, that is designed to move through the bloodstream, target multiple tumor sites and kill tumor cells. SIGA will provide TPOXX, an antiviral agent effective against vaccinia virus. The companies will work to test TPOXX’s capabilities as a way to manage RTNova’s spread.
This therapeutic approach will simplify treatment administration and broaden the potential patient population who can benefit from this treatment.
“We believe RTNova is a major breakthrough, and Calidi’s novel systemic targeted virotherapy has the potential to radically shift the treatment landscape for patients across all tumor types,” said Antonio F. Santidrian, chief scientific officer of Calidi Biotherapeutics.
“By partnering with SIGA, we will have access to a safety switch during the development process, which could provide assurance to patients, physicians, and regulatory bodies during future clinical trials. We are excited about the possibilities this collaboration brings.”
Related Link: 12 Health Care Stocks Moving In Monday’s Pre-Market Session
CLDI Price Action: Calidi Biotherapeutics stock is trading 1.61% higher at 19 cents at the time of writing, according to Benzinga Pro.
Image: 5245329 from Pixabay.
