Candel Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
The employee options carry a $10.44 exercise price, with vesting dependent on continued service.
Sentiment and the balance of points
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Rhea-AI Summary
Candel Therapeutics (CADL) granted stock options covering 85,900 common shares to four new employees on September 30, 2026.
The options have a $10.44 per-share exercise price and were granted under the company's 2025 Inducement Plan as employment inducements under Nasdaq Listing Rule 5635(c)(4). Each award vests 25% on the first anniversary of the employee'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 85,900 common shares granted to four new employees could dilute holders if exercised at $10.44.
News Explained
The grant gives four employees options to buy 85,900 shares, not shares issued now; if exercised through new issuance, the share count would rise and existing holders’ percentage ownership would fall.
Key Figures
- Options granted
- 85,900 shares
- Aggregate award to four new employees
- Exercise price
- $10.44 per share
- Inducement stock options
- Vesting schedule
- 25% at the first anniversary; remaining 75% in 36 equal monthly installments
- Subject to continued service
Key Terms
nasdaq listing rule 5635(c)(4) regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEEDHAM, Mass., Oct. 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 September 30, 2026, the Compensation Committee of Candel’s Board of Directors (the Board) granted to 4 new employees, stock options to purchase an aggregate of 85,900 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 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 (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) 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 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.
How many employee stock options did Candel Therapeutics grant, and at what exercise price?
Candel granted options to four new employees to purchase an aggregate of 85,900 common shares at $10.44 per share. The Compensation Committee approved the grants on September 30, 2026, under the 2025 Inducement Plan.
When do Candel Therapeutics' September 2026 inducement options vest?
The options vest 25% on the first anniversary of each employee's start date, followed by the remaining 75% in 36 equal monthly installments. Employees must remain in service through each applicable vesting date.