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 (CADL) reported a strong cash position of $82.6 million as of December 31, 2021, up from $35.1 million in 2020, bolstered by a successful IPO. Despite a net loss of $36.1 million for the year, the company plans to present key clinical trial data in 2022, seeking to advance its oncolytic viral immunotherapies for various cancers. Operating expenses increased to $25.9 million, driven by R&D and administrative costs linked to its growth strategy. Candel is positioned for critical milestones with upcoming data readouts expected in mid-2022.
Candel Therapeutics (Nasdaq: CADL) has appointed Dr. Seshu Tyagarajan as the Chief Technical and Development Officer. Tyagarajan brings over 20 years of experience from Novartis, where she led CGT manufacturing strategies, including the BLA submission for Kymriah, the first FDA-approved CAR-T therapy. Her expertise in biologics manufacturing is expected to enhance Candel’s development efforts for oncolytic viral immunotherapy, which targets solid tumors. The company aims to leverage her insights to elevate its technical operations.
Candel Therapeutics, Inc. (Nasdaq: CADL) has secured a $25 million loan from Silicon Valley Bank, with $20 million available immediately and up to $5 million contingent on specific milestones. This financing extends the company's cash runway into Q4 2023, providing operational flexibility ahead of key clinical trials, including CAN-2409 and CAN-3110. CEO Paul Peter Tak highlights the attractive, non-dilutive terms of the loan as beneficial for upcoming data release and trial initiation, crucial for the company's oncolytic viral immunotherapy programs.
Candel Therapeutics, Inc. (Nasdaq: CADL) has appointed Francesca Barone, M.D., Ph.D., as its new Chief Scientific Officer. With over 20 years of expertise in immunology and drug development, Dr. Barone previously served as Candel's Vice President, Head of Research. She has substantial experience from her roles at Kintai Therapeutics and Senda Biosciences. Dr. Barone expressed optimism about the company's investigational immunotherapies aimed at treating cancer, emphasizing their unique ability to induce strong immune responses. This leadership change aims to enhance Candel's clinical development efforts.
Candel Therapeutics, Inc. (Nasdaq: CADL), a biopharmaceutical company specializing in oncolytic viral immunotherapies, announced upcoming presentations at two virtual investor conferences in January 2022. Paul Peter Tak, CEO, will present at the H.C. Wainwright BioConnect Conference on January 10, 2022, with on-demand viewing starting at 7:00 am ET. He will also present live at the B. Riley Securities’ 2022 Oncology Conference on January 28, 2022, at 11:30 am ET. The company focuses on advancing cancer treatments through innovative engineered viruses.
Bionaut Labs and Candel Therapeutics have formed a strategic collaboration to advance preclinical development of remote-controlled microscale robots for targeted delivery of oncolytic viral immunotherapies to brain tumors. Utilizing Bionaut’s precision medicine technology, the partnership aims to enhance therapeutic efficacy for high-grade glioma patients. Both companies will retain rights to their platforms while working together towards clinical trials. Terms of the agreement remain undisclosed.
Candel Therapeutics (Nasdaq: CADL) announced a collaboration with the Partnership for Accelerating Cancer Therapies (PACT) for a biomarker analysis in a phase 2 clinical trial targeting non-small cell lung cancer (NSCLC). The study will evaluate the efficacy of CAN-2409 combined with immune checkpoint inhibitors following inadequate responses to initial treatments. With three patient cohorts, the collaboration aims to identify early biological indicators of treatment response. This partnership enhances Candel's research credibility and aims to advance therapeutic options for cancer patients.
Candel Therapeutics (Nasdaq: CADL) presented encouraging data from its phase 1 trial of CAN-3110 at the SITC Annual Meeting. This oncolytic virus therapy showed significant T-cell infiltration and immune activation in patients with recurrent high-grade glioma. Preliminary data previously reported at ASCO indicated an overall survival of 11.7 months. The histological analysis confirmed persistence of viral antigens and a strong immune response, suggesting the potential of CAN-3110 to improve treatment outcomes for patients with this challenging cancer.
Candel Therapeutics (Nasdaq: CADL) reported its Q3 financial results, announcing a net loss of $16.2 million for the quarter, a substantial increase from $2.6 million in Q3 2020. Cash reserves as of September 30, 2021, stood at $88.4 million, bolstered by an IPO in August 2021. Research and development expenses surged to $5.3 million from $1.8 million year-over-year, attributed to increased clinical trial activities. The company remains on track to fund operations into Q2 2023, with several clinical presentations highlighting advancements in its oncolytic viral therapies, CAN-2409 and CAN-3110.
On November 2, 2021, Candel Therapeutics, Inc. (Nasdaq: CADL) announced that CEO Paul Peter Tak will speak at several investor conferences in November.
- Credit Suisse 30th Annual Healthcare Conference: Fireside Chat on November 8, 2021, at 11:20 am ET.
- BMO Biopharma Spotlight Series: Panel Discussion on November 8, 2021, at 12:45 pm ET.
- Jefferies London Healthcare Conference: Fireside Chat on November 17, 2021, at 1:00 pm GMT.
For more information and webcasts, visit Candel's website.
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