Candel Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Candel Therapeutics (Nasdaq: CADL) granted inducement stock options to three new employees under its 2025 Inducement Plan, adopted on December 24, 2025.

Rhea-AI Summary

Candel Therapeutics (Nasdaq: CADL) granted inducement stock options to three new employees under its 2025 Inducement Plan, adopted on December 24, 2025.

The awards cover an aggregate of 63,000 shares at an exercise price of $8.30 per share and were approved on May 31, 2026 under Nasdaq Listing Rule 5635(c)(4).

Argus Jun 2 session

-1.06% close to close Open Argus

Details

News Market Reaction – CADL

In the Jun 2 session, CADL declined 1.06%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details routine inducement stock option grants totaling 63,000 shares at an exerci...

Analysis

This announcement details routine inducement stock option grants totaling 63,000 shares at an exercise price of $8.30, issued under Candel’s 2025 Inducement Plan adopted on December 24, 2025. Vesting is service-based, with 25% after one year and the remaining 75% over 36 months. In context of recent positive phase 3 data and a registered shelf of up to $300,000,000, investors may monitor how compensation, hiring, and future financings support the clinical and commercial strategy.

Key Figures

Inducement options granted: 63,000 shares Exercise price: $8.30 per share Initial vesting tranche: 25% of shares +2 more

Inducement options granted

63,000 shares

Aggregate stock options to three new employees under 2025 Inducement Plan

Exercise price

$8.30 per share

Exercise price for inducement stock options granted May 31, 2026

Initial vesting tranche

25% of shares

Vests on first anniversary of each employee’s start date

Remaining vesting schedule

75% over 36 months

Vests in 36 equal monthly installments after first anniversary

Plan adoption date

December 24, 2025

2025 Inducement Plan adoption by Board

Historical Context

5 past events · Latest: May 15

5 events

1. May 15

   Phase 3 follow-up data

   24h Move

   -9.9%

   Extended phase 3 CAN-2409 follow-up showed 39% disease-free survival improvement.

2. May 14

   Earnings and pipeline

   24h Move

   -0.3%

   Q1 2026 results, strong cash of $194.8M, and plans for BLA and NSCLC trial.

3. May 13

   Investor conferences

   24h Move

   +2.5%

   CEO participation in Stifel oncology forum and Jefferies healthcare conference.

4. May 4

   Conference call notice

   24h Move

   +16.4%

   Announcement of call to discuss extended phase 3 CAN-2409 prostate cancer data.

5. May 1

   Prior inducement grants

   24h Move

   +16.4%

   Inducement options for 29,400 shares at $6.18 under 2025 Inducement Plan.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

stock options, Nasdaq Listing Rule 5635(c)(4)

2 terms

stock options financial

"granted to three new employees, stock options to purchase an aggregate of 63,000 shares"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

Nasdaq Listing Rule 5635(c)(4) regulatory

"inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4)"

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEEDHAM, Mass., June 01, 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 May 31, 2026, the Compensation Committee of Candel’s Board of Directors (the Board) granted to three new employees, stock options to purchase an aggregate of 63,000 shares of the Company’s common stock, with a per share exercise price of $8.30.

The inducement stock options were made under the Company’s 2025 Inducement Plan (the Plan) and will vest with respect to 25% of the shares of common stock underlying the award on the first anniversary of the employee’s start date, and the remaining 75% of the shares of common stock underlying the inducement stock options will vest in 36 equal monthly installments thereafter. All vesting related to inducement awards is subject to the employees’ continuing service at the Company through the applicable vesting date.

The above-described awards were each granted as inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted pursuant to the terms of the Plan. The Plan was adopted by the Board on December 24, 2025.

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 recently completed successful phase 2a clinical trials of aglatimagene in non-small cell lung cancer (NSCLC) 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). 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 inducement stock options did Candel Therapeutics (CADL) grant on May 31, 2026?

Candel Therapeutics granted stock options for an aggregate of 63,000 shares to three new employees. According to Candel, the options have an exercise price of $8.30 per share and are intended as employment inducement awards.

What is the vesting schedule for Candel Therapeutics (CADL) May 31, 2026 inducement options?

The inducement options vest 25% on the first anniversary of each employee’s start date. According to Candel, the remaining 75% vests in 36 equal monthly installments, subject to continued service through each vesting date.

Under which equity plan were Candel Therapeutics (CADL) May 31, 2026 inducement options granted?

The options were granted under Candel’s 2025 Inducement Plan. According to Candel, this plan was adopted by the Board on December 24, 2025 and is used for inducement grants to new employees.

How does Nasdaq Listing Rule 5635(c)(4) relate to Candel Therapeutics (CADL) inducement grants?

Candel states these stock options were granted as inducement awards in accordance with Nasdaq Listing Rule 5635(c)(4). That rule allows equity awards to new employees outside shareholder-approved plans when used as a material employment inducement.

How many new employees received Candel Therapeutics (CADL) inducement stock options in May 2026?

Three new employees received the inducement stock options approved on May 31, 2026. According to Candel, these employees were granted options covering a combined total of 63,000 shares of common stock under the 2025 Inducement Plan.