Candel Therapeutics Q3 net loss widens to $11.3 mln

Overview

• Candel Therapeutics reports Q3 net loss of $11.3 mln, increased from last year

• Company secures $130 mln loan facility with Trinity Capital to fund operations

• Company advances CAN-2409 and CAN-3110 programs, planning pivotal trials in 2026

Outlook

• Company plans phase 3 trial of CAN-2409 in NSCLC in Q2 2026

• Company expects prostate cancer DFS data in Q2 2026

• Company plans BLA submission for CAN-2409 in Q4 2026

Result Drivers

• FINANCIAL STRATEGY - Co secures $130 mln loan facility to fund operations and upcoming pivotal trials

• INCREASED EXPENSES - R&D expenses rose due to manufacturing and regulatory costs for CAN-2409, G&A expenses increased due to commercial readiness

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Candel Therapeutics Inc is $19.50, about 74.8% above its November 12 closing price of $4.92

Press Release: ID:nGNX7TlBvt

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)