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

Candel Therapeutics (Nasdaq: CADL) granted a Nasdaq Listing Rule 5635(c)(4) inducement stock option to one new employee on June 30, 2026.

Rhea-AI Summary

Candel Therapeutics (Nasdaq: CADL) granted a Nasdaq Listing Rule 5635(c)(4) inducement stock option to one new employee on June 30, 2026. The option covers 25,000 shares at a per-share exercise price of $10.30.

The award was granted under Candel’s 2025 Inducement Plan and vests 25% after one year, with the remaining 75% vesting in 36 monthly installments, subject to continued service. Candel is a clinical-stage company developing multimodal viral immunotherapies for solid tumors.

Argus Jul 2 session

-0.51% close to close 0.7x rel. volume Open Argus

Details

News Market Reaction – CADL

On Jul 2, the first trading day after this news, CADL closed 0.51% below the previous close.

Data tracked by StockTitan Argus for the Jul 2 session.

Key Figures

Inducement option grant: 25,000 shares Option exercise price: $10.30 per share Initial vesting tranche: 25% of shares +5 more

Inducement option grant

25,000 shares

Aggregate stock options granted to one new employee on June 30, 2026

Option exercise price

$10.30 per share

Exercise price for inducement stock options under 2025 Inducement Plan

Initial vesting tranche

25% of shares

Cliff vests on first anniversary of employee’s start date

Subsequent vesting

75% over 36 months

Remainder vests in 36 equal monthly installments thereafter

Inducement plan adoption

December 24, 2025

Board adoption date of the 2025 Inducement Plan

Phase 2a trials completed

NSCLC and PDAC

Completed Phase 2a trials of aglatimagene in NSCLC and PDAC

Pivotal Phase 3 trial

Localized prostate cancer

Placebo-controlled Phase 3 trial of aglatimagene completed and published

Phase 1b trial status

Ongoing

Ongoing Phase 1b trial of linoserpaturev in recurrent high-grade glioma

Historical Context

5 past events · Latest: Jun 30

5 events

1. Jun 30

   Phase 3 trial start

   24h Move

   -0.6%

   Initiation of global pivotal Phase 3 AURORA NSCLC trial for CAN-2409.

2. Jun 25

   Executive appointment

   24h Move

   +2.2%

   Appointment of Chief Commercial Officer to prepare for planned BLA and launch.

3. Jun 2

   Pivotal data publication

   24h Move

   -1.1%

   Lancet Oncology publication of Phase 3 data showing DFS improvement in prostate cancer.

4. Jun 1

   Inducement option grants

   24h Move

   -1.1%

   Inducement stock options to new employees under 2025 Inducement Plan.

5. May 15

   Clinical follow-up data

   24h Move

   -9.9%

   Extended follow-up from Phase 3 CAN-2409 prostate trial showing improved outcomes.

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), fast track designation, regenerative medicine advanced therapy designation, orphan drug designation, +2 more

6 terms

nasdaq listing rule 5635(c)(4) regulatory

"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)"

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.

fast track designation regulatory

"The FDA also granted Fast Track Designation, Regenerative Medicine Advanced Therapy Designation to aglatimagene"

Fast track designation is a status the U.S. Food and Drug Administration grants to drugs intended to treat serious conditions and address an unmet medical need. It gives the developer more frequent communication with the FDA and can allow parts of the application to be reviewed on a rolling basis, and it may pave the way to priority review or accelerated approval. It can shorten development timelines, though it does not guarantee approval.

regenerative medicine advanced therapy designation regulatory

"The FDA also granted Fast Track Designation, Regenerative Medicine Advanced Therapy Designation to aglatimagene"

A U.S. regulatory designation that expedites development and review of certain cell, gene and tissue-based therapies designed to repair, replace or restore damaged tissue or organ function. It matters to investors because receiving the designation can shorten the path to approval, increase interaction with regulators, and make a program more attractive to partners or buyers — like giving a promising product a VIP pass through regulatory traffic, reducing time and risk to potential revenue.

orphan drug designation regulatory

"and both Fast Track Designation and Orphan Drug Designation to aglatimagene for the treatment of PDAC"

Orphan drug designation is a special status given to medicines developed to treat rare diseases affecting only a small number of people. This status often provides benefits like faster approval processes and financial incentives, making it more attractive for companies to develop these drugs. For investors, it signals potential for exclusive market rights and reduced competition, which can impact the drug’s profitability.

special protocol assessment regulatory

"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"

A special protocol assessment is a formal, written agreement between a drug or device developer and a health regulator about the design, size and analysis plans of a pivotal clinical trial or study. It matters to investors because it reduces regulatory uncertainty—like getting a signed blueprint before building—by signaling that if the study follows the agreed plan and meets its goals, the regulator is unlikely to reject the results solely for design reasons, though it does not guarantee approval.

phase 1b medical

"Linoserpaturev (CAN-3110) is the lead product candidate from the HSV platform and is currently in an ongoing phase 1b clinical trial"

"Phase 1b" is an early stage in testing a new medical treatment or vaccine, where it is given to a small group of people to evaluate its safety and determine the right dose. For investors, this phase signals progress in development, indicating the treatment is advancing through initial safety checks, which can influence expectations for future success and potential market impact.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NEEDHAM, Mass., July 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 June 30, 2026, the Compensation Committee of Candel’s Board of Directors (the Board) granted to one new employee, stock options to purchase an aggregate of 25,000 shares of the Company’s common stock, with a per share exercise price of $10.30.

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) 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 inducement stock option grant did Candel Therapeutics (CADL) announce on June 30, 2026?

Candel Therapeutics announced an inducement stock option for one new employee covering 25,000 common shares at $10.30 per share. According to Candel, the option was granted under the 2025 Inducement Plan as a material inducement to employment under Nasdaq Listing Rule 5635(c)(4).

How do the Candel Therapeutics (CADL) inducement stock options vest for the new employee?

The inducement stock options vest 25% on the first anniversary of the employee’s start date, then monthly thereafter. According to Candel, the remaining 75% vests in 36 equal monthly installments, and all vesting requires continued service with the company through each applicable vesting date.

What is Candel Therapeutics’ 2025 Inducement Plan and when was it adopted?

Candel Therapeutics’ 2025 Inducement Plan is used to grant equity awards as employment inducements under Nasdaq rules. According to Candel, the Board adopted the plan on December 24, 2025, and the June 30, 2026 stock option grant was issued pursuant to this plan.

What are the lead product candidates in Candel Therapeutics’ (CADL) immunotherapy pipeline?

Candel’s lead candidates are aglatimagene besadenovec (CAN-2409) from its adenovirus platform and linoserpaturev (CAN-3110) from its HSV platform. According to Candel, these multimodal biological immunotherapies are being evaluated in prostate cancer, NSCLC, PDAC, and recurrent high-grade glioma clinical trials.

What regulatory designations has Candel’s aglatimagene besadenovec (CAN-2409) received from the FDA?

Aglatimagene besadenovec has received multiple FDA designations, including Fast Track and Regenerative Medicine Advanced Therapy for localized prostate cancer. According to Candel, it also has Fast Track in NSCLC, and both Fast Track and Orphan Drug designations for pancreatic ductal adenocarcinoma.

What FDA designations has Candel Therapeutics’ linoserpaturev (CAN-3110) obtained?

Linoserpaturev has received Fast Track Designation and Orphan Drug Designation from the FDA for recurrent high-grade glioma. According to Candel, it is being studied in an ongoing phase 1b trial evaluating the effects of repeat linoserpaturev injections in these brain tumor patients.

What is Candel Therapeutics’ enLIGHTEN Discovery Platform and how does it support CADL’s pipeline?

The enLIGHTEN Discovery Platform is Candel’s HSV-based discovery engine for new viral immunotherapies targeting solid tumors. According to Candel, it uses human biology and advanced analytics in a systematic, iterative process to create additional multimodal biological immunotherapies that may complement its current clinical-stage programs.