Welcome to our dedicated page for Candel Therapeutics news (Ticker: CADL), a resource for investors and traders seeking the latest updates and insights on Candel Therapeutics stock.
Candel Therapeutics, Inc. (CADL) is a Massachusetts-based biotechnology company, also known as Advantagene, Inc., specializing in the development of cutting-edge immuno-oncology platforms aimed at treating solid tumors. The company's focus is on leveraging the body's immune system to combat cancer through innovative viral immunotherapies.
At the core of Candel Therapeutics' technology are two proprietary platforms: the Gene Mediated Cytotoxic Immunotherapy (GMCI™) platform and the RQNestin34.5 platform. Designed as an 'off-the-shelf' solution, GMCI™ aims to generate a personalized and precise immune response against cancer, utilizing the patient's own immune system. The RQNestin34.5 platform, on the other hand, is centered around the use of genetically modified herpes simplex virus (HSV) constructs to target and destroy cancer cells.
As a clinical-stage biopharmaceutical company, Candel Therapeutics is dedicated to translating its scientific advancements into viable treatments for patients. The company has made substantial progress with its platforms, demonstrating promising results in clinical studies aiming to establish the efficacy and safety of these novel therapies.
Among the company's recent highlights is its presentation at the American Society of Clinical Oncology (ASCO), where it shared significant updates on its ongoing projects. Candel Therapeutics continues to engage in strategic partnerships and collaborations to advance its mission of making effective cancer treatments accessible to patients globally.
Candel Therapeutics is committed to maintaining robust investor relations, offering transparent updates and clear communication about its financial health, project milestones, and future directions. The company's leadership frequently engages with stakeholders to ensure alignment with their goals and expectations.
For the latest news and detailed financial information, investors and interested parties can contact Theodore Jenkins, Vice President of Investor Relations and Business Development, at tjenkins@candeltx.com or Kyle Evans, Account Director at ICR Westwicke, at CandelPR@westwicke.com.
Candel Therapeutics (NASDAQ: CADL) has successfully closed its public offering, selling 12,000,001 shares of common stock at $6.00 per share and 3,333,333 pre-funded warrants at $5.99 per warrant. The offering includes 2,000,000 additional shares from the full exercise of the underwriters' option. The company raised approximately $92 million in gross proceeds before deducting expenses.
The funds will be used to advance product development, including the preparation of a Biologics License Application for CAN-2409 in prostate cancer, and for general corporate purposes. The offering was managed by Citigroup, BofA Securities, and Canaccord Genuity as joint bookrunners, with H.C. Wainwright & Co. as lead manager.
Candel Therapeutics (CADL) has announced the pricing of a public offering, consisting of 10,000,001 shares of common stock at $6.00 per share and pre-funded warrants to purchase 3,333,333 shares at $5.99 per warrant. The offering is expected to generate approximately $80 million in gross proceeds and close around December 16, 2024. The company has granted underwriters a 30-day option to purchase up to 2,000,000 additional shares. Proceeds will fund product development, including preparation for a Biologics License Application for CAN-2409 in prostate cancer, and general corporate purposes. The offering is led by joint bookrunning managers Citigroup, BofA Securities, and Canaccord Genuity.
Candel Therapeutics (NASDAQ: CADL) has announced an underwritten public offering of $80 million of its common stock and pre-funded warrants. The company will grant underwriters a 30-day option to purchase up to an additional $12 million of common stock. The proceeds will be used to continue product development, including preparing a Biologics License Application for CAN-2409 in prostate cancer, and for general corporate purposes. Citigroup, BofA Securities, and Canaccord Genuity are acting as joint bookrunning managers, with H.C. Wainwright & Co. as lead manager. The offering will be made through a shelf registration statement previously filed with the SEC.
Candel Therapeutics (CADL) announced positive Phase 3 clinical trial results for CAN-2409 viral immunotherapy in localized prostate cancer patients. The trial met its primary endpoint, demonstrating statistically significant improvement in disease-free survival when combined with radiation therapy. Key results include:
- 14.5% relative improvement in disease-free survival at 54 months
- Highly significant effect on prostate cancer-free survival (p=0.0046)
- 80.4% pathological complete responses vs 63.6% in control group
- Safety profile consistent with previous studies
The trial enrolled 745 patients and was conducted under FDA Special Protocol Assessment. The addressable market for CAN-2409 in localized prostate cancer is estimated at over $10 billion in the U.S. alone. The company plans to initiate FDA discussions regarding regulatory approval.
Candel Therapeutics (CADL) reported Q3 2024 financial results with a net loss of $10.6 million compared to $8.4 million in Q3 2023. Research and development expenses decreased to $5.4 million from $5.8 million year-over-year, while general and administrative expenses increased to $3.3 million from $3.0 million. The company's cash position stands at $16.6 million, expected to fund operations through Q1 2025.
The company remains on track for two key clinical trial readouts in Q4 2024: topline disease-free survival data from the phase 3 trial of CAN-2409 in intermediate/high-risk prostate cancer and topline progression-free survival data from the phase 2b trial in low/intermediate risk prostate cancer. Additionally, promising clinical data was reported for CAN-3110 in recurrent high-grade glioma, with 3 out of 6 patients surviving over one year.
Candel Therapeutics (Nasdaq: CADL), a clinical stage biopharmaceutical company developing biological immunotherapies for cancer treatment, has announced its participation in the Jefferies London Healthcare Conference 2024.
The company's President and CEO, Paul Peter Tak, will deliver a presentation on Wednesday, November 20, 2024, from 9:30-9:55AM GMT / 4:30-4:55AM EST. The presentation will be accessible via webcast, with a replay available for up to 90 days on the company's website under the Investors section.
Candel Therapeutics announced preclinical results for CAN-3110 in melanoma models, showing potential expansion beyond high-grade glioma treatment. CAN-3110, a first-in-class HSV-1 oncolytic viral immunotherapy, demonstrated potent antitumor activity in both in vitro human cell lines and in vivo murine melanoma models. The therapy's effectiveness is linked to Nestin expression in cancer cells and specific genetic alterations. The data showed tumor-specific cytotoxicity with dose-dependent inhibition of tumor growth and regression in some cases. The treatment was well-tolerated and associated with systemic immune activation, similar to effects observed in high-grade glioma patients.
Candel Therapeutics presented three key developments at the 16th Annual International Oncolytic Virotherapy Conference. The highlights include promising data from the CAN-3110 phase 1b trial in recurrent high-grade glioma, showing 3 out of 6 patients surviving over one year after treatment. The trial demonstrated improved survival compared to historical controls, with survival times of 12.2, 13.0, and 18.7 months.
The company also showcased a new multimodal immunotherapy candidate featuring IL-12 and IL-15, which showed significant tumor growth inhibition. Additionally, biopsy analysis revealed dense lymphocyte infiltrates and minimal tumor cells post-treatment, suggesting effective immune system activation.
Candel Therapeutics (Nasdaq: CADL), a clinical-stage biopharmaceutical company developing multimodal biological immunotherapies for cancer, announced its upcoming presentation at the Society for Immunotherapy of Cancer's (SITC) 39th Annual Meeting. The event will take place from November 6-10, 2024, in Houston, Texas, and virtually.
The company will present a poster titled 'Therapeutic potential of CAN-3110 in Ras-Raf pathway altered melanoma'. Dr. Anne Diers, Senior Director of Research at Candel Therapeutics, will present the abstract numbered 995 on Friday, November 8, 2024, in the Exhibit Halls A and B of the George R. Brown Convention Center.
Additional details from the presentation will be made available on Candel's website following the event.
Candel Therapeutics (Nasdaq: CADL), a clinical-stage biopharmaceutical company developing multimodal biological immunotherapies for cancer, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event will be held both in-person and virtually from September 9-11, 2024.
Key details:
- Presenter: Paul Peter Tak, MD, PhD, FMedSci, Candel's President and CEO
- Date: Monday, September 9, 2024
- Time: Available from 7:00 a.m. ET onwards
- Webcast link provided for virtual attendance
The presentation will be accessible through the company's website, with a replay available for up to 90 days after the event.
FAQ
What is the current stock price of Candel Therapeutics (CADL)?
What is the market cap of Candel Therapeutics (CADL)?
What does Candel Therapeutics, Inc. specialize in?
What are the main platforms developed by Candel Therapeutics?
How does the GMCI™ platform work?
What is unique about the RQNestin34.5 platform?
Is Candel Therapeutics a clinical-stage company?
What recent achievements has Candel Therapeutics made?
Who can I contact for investor relations at Candel Therapeutics?
Who handles media inquiries for Candel Therapeutics?
What types of cancer are targeted by Candel Therapeutics' platforms?
Where is Candel Therapeutics based?
