How does the current cash position compare to the company's projected operating expenses for the next 12 months?
Answer
The excerpt you provided from Calidi Biotherapeutics’ Q2 2025 earnings release does not contain the specific figures needed to compare the company’s current cash position with its projected operating expenses for the next 12 months. Typically, a press release of this type would include:
| Metric | Typical Disclosure in a Q2 Earnings Release |
|---|---|
| Cash and cash equivalents (as of the end of the quarter) | A dollar amount (e.g., “$ 85.3 million”) |
| Projected operating expenses for the next 12 months | A forward‑looking amount (e.g., “approximately $ 120 million”) or a statement that cash on hand is expected to fund “X months of operating expenses” |
Without those numbers, we cannot calculate:
- What proportion of the projected operating expenses the current cash balance will cover (e.g., “cash covers 70 % of the next‑year expense base”);
- How many months of runway the company has left (e.g., “cash is sufficient for roughly 9 months of operations”).
What to do next
Locate the full press release – The detailed earnings release (usually available on Calidi’s Investor Relations website or the original GlobeNewswire article) will list the cash balance on the balance sheet and often include a “cash runway” statement or a specific projection of operating expenses for the next 12 months.
Extract the figures – Identify:
- Cash on hand (including cash equivalents and short‑term investments).
- Projected operating expenses (sometimes broken out as R&D, G&A, and other categories, or provided as a total figure).
Perform the comparison – Simple arithmetic will show the coverage ratio:
[
\text{Coverage Ratio} = \frac{\text{Cash on Hand}}{\text{Projected 12‑Month Operating Expenses}}
]- If the ratio > 1, cash exceeds projected expenses (positive runway).
- If the ratio < 1, cash is insufficient and the company will need additional financing.
Contextualize – Look for management commentary on financing plans (e.g., equity raise, debt facility, collaborations) that might affect the runway.
Bottom line: Based on the information you provided, we cannot determine how Calidi’s current cash position stacks up against its projected operating expenses for the next year. Accessing the complete earnings release will give you the exact numbers needed for that analysis. If you can share those figures, I can immediately calculate the runway and give you a precise answer.