Candel Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
The award provides for potential share issuance at $8.82 per share, with vesting dependent on continued service.
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Rhea-AI Summary
Candel Therapeutics (Nasdaq: CADL) granted General Counsel Maria Ostrovsky options covering 315,000 common shares on November 3, 2026. The options have an exercise price of $8.82 per share, equal to the stock’s closing price on The Nasdaq Global Market that day.
The employment inducement award was granted under the company’s 2025 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4). It vests as to 25% of the underlying shares on the first anniversary of Ostrovsky’s start date, with the remaining 75% vesting in 36 equal monthly installments thereafter. All vesting requires continued service through the applicable vesting date.
Positive
- None.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.Options covering 315,000 common shares at an $8.82 exercise price create potential dilution upon exercise.
News Explained
The 315,000-share award is options to purchase shares, not an immediate share issuance; only exercise that results in shares being issued would increase the share count and reduce existing holders’ percentage ownership.
Key Figures
- Options granted
- 315,000 shares
- Inducement award to the General Counsel
- Exercise price
- $8.82 per share
- Inducement stock options
- Initial vesting
- 25%
- On the first anniversary of the recipient's start date
- Remaining vesting
- 75% in 36 equal monthly installments
- Subject to continued service through applicable vesting dates
Historical Context
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Four employees received options under the same plan with a matching 25%/36-month vesting structure.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
nasdaq listing rule 5635(c)(4) regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEEDHAM, Mass., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Candel Therapeutics, Inc. (Candel or the Company) (Nasdaq: CADL), a clinical-stage biopharmaceutical company focused on developing multimodal immunotherapies to improve disease outcomes for patients with cancer, today announced that on November 3, 2026, the Compensation Committee of Candel’s Board of Directors granted Maria Ostrovsky, in connection with her employment as Candel’s General Counsel, stock options to purchase an aggregate of 315,000 shares of the Company’s common stock, with a per share exercise price of
The inducement stock options were made under the Company’s 2025 Inducement Plan (the Plan) and will vest with respect to
The above-described award was granted as inducement material to Ms. Ostrovsky entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and was granted pursuant to the terms of the Plan. The Plan was adopted by the Board on December 24, 2025 and amended on October 25, 2026.
About Candel Therapeutics
Candel is a clinical-stage biopharmaceutical company focused on developing off-the-shelf multimodal biological immunotherapies that elicit an individualized, systemic anti-tumor immune response to help patients fight cancer. Candel has established two clinical-stage multimodal biological immunotherapy platforms based on novel, genetically modified adenovirus and herpes simplex virus (HSV) gene constructs, respectively. Aglatimagene besadenovec (CAN-2409 or aglatimagene) is the lead product candidate from the adenovirus platform. The Company completed successful phase 2a clinical trials of aglatimagene in non-small cell lung cancer (NSCLC) with results published in the Journal for ImmunoTherapy of Cancer, and pancreatic ductal adenocarcinoma (PDAC), and a pivotal, placebo-controlled, phase 3 clinical trial of aglatimagene in localized prostate cancer, conducted under a Special Protocol Assessment agreed with the U.S. Food and Drug Administration (FDA) and published in The Lancet Oncology. The FDA also granted Fast Track Designation, Regenerative Medicine Advanced Therapy Designation to aglatimagene for the treatment of newly diagnosed localized prostate cancer in patients with intermediate-to-high-risk disease, Fast Track Designation in NSCLC, and both Fast Track Designation and Orphan Drug Designation to aglatimagene for the treatment of PDAC.
Linoserpaturev (CAN-3110) is the lead product candidate from the HSV platform and is currently in an ongoing phase 1b clinical trial in recurrent high-grade glioma, evaluating the effects of repeat linoserpaturev injections. Initial results were published in Nature and Science Translational Medicine and linoserpaturev received Fast Track Designation and Orphan Drug Designation from the FDA. Finally, Candel’s enLIGHTEN™ Discovery Platform is a systematic, iterative HSV-based discovery platform leveraging human biology and advanced analytics to create new viral immunotherapies for solid tumors.
For more information about Candel, visit: www.candeltx.com.
Investor Contact
Theodore Jenkins
Vice President, Investor Relations and Business Development
Candel Therapeutics, Inc.
tjenkins@candeltx.com
Media Contact
Ben Shannon
ICR Healthcare
CandelPR@icrhealthcare.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stock options did Candel Therapeutics grant Maria Ostrovsky?
Candel granted Ostrovsky options to purchase 315,000 common shares at $8.82 per share on November 3, 2026. The exercise price equals the stock’s closing price on The Nasdaq Global Market that day. The award was an inducement connected with her employment as general counsel.
When do Maria Ostrovsky’s Candel Therapeutics inducement options vest?
The options vest as to 25% of the underlying shares on the first anniversary of Ostrovsky’s start date, followed by the remaining 75% in 36 equal monthly installments. Each vesting installment requires her continued service through the applicable vesting date.