Candel Therapeutics, Inc. - CADL STOCK NEWS

Candel Therapeutics (Nasdaq: CADL) presented tolerability data from its phase 3 clinical trial of CAN-2409 for localized prostate cancer at the 28th Annual Prostate Cancer Foundation Scientific Retreat on October 28, 2021. The trial involved 745 patients, with over 2,000 injection procedures performed. Results showed 65% of patients found transperineal injections equally or better tolerated than biopsies, while 89% reported the same for transrectal injections. Overall, 100% felt positive about their participation. This supports the treatment's promise, potentially improving outcomes while reducing the need for long-term androgen deprivation therapy.

Candel Therapeutics (Nasdaq: CADL) appointed Dr. Mace L. Rothenberg as a senior advisor to CEO Paul Peter Tak. Dr. Rothenberg, a seasoned medical executive with over 30 years in government and industry, previously served as Chief Medical Officer at Pfizer, where he played a crucial role in the development of several cancer therapies and the COVID-19 vaccine. His expertise is expected to support Candel's growth and enhance its oncology drug pipeline, particularly in advancing their lead candidates, CAN-2409 and CAN-3110, through clinical trials.

Candel Therapeutics, Inc. (Nasdaq: CADL) announced its participation in the SITC 36th Annual Meeting, where it will present novel biomarker data from its phase 1 clinical trial of CAN-3110 for recurrent high-grade glioma. The presentation, titled 'Detection of viral antigen and immune activation after intra-tumor injection of CAN-3110', will take place on November 12, 2021. CAN-3110 is designed to selectively kill cancer cells while sparing healthy ones, with promising results recently shared at the ASCO Annual Meeting. More information is available on their website.

Candel Therapeutics, a late-stage biopharmaceutical firm, announced that its CEO Paul Peter Tak and investigator E. Antonio Chiocca will present data on oncolytic viral immunotherapies for glioblastoma at two conferences on Oct. 6 and 27, 2021. The presentations will cover novel therapies CAN-2409 and CAN-3110, focusing on their mechanisms and clinical trial results. CAN-2409 targets a wide range of solid tumors while CAN-3110 is under investigation for recurrent high-grade glioma. More details are available on Candel's website.

Candel Therapeutics, Inc. (Nasdaq: CADL) announces key clinical presentations at two upcoming medical conferences focusing on prostate and brain cancer. Dr. Scott E. Eggener will present safety data from the phase 2 trial of CAN-2409 for localized prostate cancer at the AdMeTech Foundation’s Global Summit on September 25, 2021. Concurrently, Dr. E. Antonio Chiocca will share clinical findings from the phase 1 trial of CAN-3110 targeting recurrent high-grade glioma at the European Association of Neuro-Oncology meeting on September 25-26, 2021. Both presentations will highlight advancements in their respective cancer programs.

Candel Therapeutics (Nasdaq: CADL) reported its Q2 2021 financial results, revealing a net loss of $17.1 million, up from $2.9 million in Q2 2020. The company's cash and equivalents decreased to $24.3 million, down from $35.1 million at the end of 2020. Candel recently completed its IPO, raising $71.5 million to fund its ongoing research, with plans to extend its cash runway to Q2 2023. Significant clinical advancements include the FDA's Fast Track designation for CAN-2409 and successful enrollment in multiple clinical trials.

Candel Therapeutics, Inc. (Nasdaq: CADL) has completed patient enrollment in its pivotal phase 3 study of CAN-2409 for intermediate-high risk localized prostate cancer. This randomized, placebo-controlled trial evaluates CAN-2409 combined with valacyclovir alongside standard external beam radiation therapy. The primary focus is on disease-free survival and aims to provide an innovative treatment option to improve patient outcomes while minimizing the side effects of long-term androgen deprivation therapy. Results are anticipated in 2024, potentially influencing future treatment protocols.

Candel Therapeutics announced the closing of an additional 887,994 shares of common stock at $8.00 each, generating approximately $7.1 million. This follows their earlier initial public offering of 9,000,000 shares, raising total gross proceeds to about $79.1 million. Jefferies, Credit Suisse, BMO Capital Markets, and UBS Investment Bank served as joint book-running managers. Candel is focused on developing oncolytic viral immunotherapies aimed at cancer treatment through engineered viruses that induce immunogenic cell death.

Candel Therapeutics has announced the pricing of its initial public offering (IPO) of 9,000,000 shares at $8.00 per share, aiming for gross proceeds of $72 million. Trading on the Nasdaq Global Market under the ticker CADL is set to commence on July 27, 2021, with the offering expected to close on July 29, 2021. The underwriters also hold a 30-day option to acquire an additional 1,350,000 shares. Candel focuses on developing oncolytic viral immunotherapies to treat cancer.