Calidi Biotherapeutics Inc. (NYSE:CLDI) stock surged by 39.47% in the after-hours trading session on Tuesday. The stock price increased by $0.095, reaching $0.34. The company’s stock had closed at $0.24 on the same day.
What Happened: The stock’s after-hours surge comes on the heels of a development in the healthcare sector. Calidi Biotherapeutics has been making headlines for its innovative approaches to cancer treatment.
On Tuesday, it was reported that 12 health care stocks, including Calidi Biotherapeutics, were experiencing movement in the after-market session.
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In May, the company reported first-quarter loss per share of $0.18, which missed the $0.15 estimate.
Why It Matters: The after-hours surge in Calidi Biotherapeutics’ stock price is indicative of investor confidence in the company’s future prospects. The company’s innovative approach to cancer treatment, as evidenced by the selection of IL15 superagonist, has been a key driver of investor interest.
Amidst a backdrop of developments in the healthcare sector, such as Mustang Bio Inc.‘s (NASDAQ:MBIO) stock exploding by 260% after the FDA granted Orphan Drug Designation to its cell therapy candidate, MB-101, it suggests investors are closely watching the biotech industry for potential opportunities.
Price Action: CLDI surged 39.47% during regular trading and jumped another 68.99% after hours on Tuesday, according to Benzinga Pro data.
Benzinga Edge Stock Rankings shows Calidi Biotherapeutics with a Momentum score of 1.63. Here is how the stock fares on other parameters.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Gorodenkoff via Shutterstock
Photo courtesy: Shutterstock.com
