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

Candel Therapeutics (Nasdaq: CADL) announced inducement stock option grants on March 31, 2026 to five new employees totaling 70,000 options at a $4.90 exercise price.

Rhea-AI Summary

Candel Therapeutics (Nasdaq: CADL) announced inducement stock option grants on March 31, 2026 to five new employees totaling 70,000 options at a $4.90 exercise price.

The options were granted under the company’s 2025 Inducement Plan, adopted December 24, 2025, and vest 25% after one year, then monthly over 36 months, subject to continued service.

Argus Apr 6 session

+0.40% close to close Open Argus

Details

News Market Reaction – CADL

In the Apr 6 session, CADL gained 0.40%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details standard inducement stock options for five new employees, totaling 70,000 ...

Analysis

This announcement details standard inducement stock options for five new employees, totaling 70,000 shares at an exercise price of $4.90, vesting over up to four years under the 2025 Inducement Plan. It follows substantial February 2026 equity and royalty financings and builds on ongoing clinical progress in prostate and lung cancer. Investors may watch future filings for additional equity usage under the existing $300,000,000 shelf and for further clinical milestones that could reshape the risk‑reward profile.

Key Figures

Inducement options granted: 70,000 shares Exercise price: $4.90 per share Initial vesting portion: 25% of shares +5 more

Inducement options granted

70,000 shares

Aggregate stock options to five new employees on March 31, 2026

Exercise price

$4.90 per share

Inducement stock options granted under 2025 Inducement Plan

Initial vesting portion

25% of shares

Vests on first anniversary of employee’s start date

Remaining vesting portion

75% of shares

Vests in 36 equal monthly installments after first anniversary

Monthly installments

36 months

Schedule for remaining 75% of inducement option vesting

Employees receiving grants

5 employees

New hires receiving inducement stock options

Plan adoption date

December 24, 2025

Board adoption of 2025 Inducement Plan

Share price vs options

$4.98 vs $4.90

Current price compared with inducement option exercise price

Historical Context

5 past events · Latest: Mar 17

5 events

1. Mar 17

   NSCLC survival update

   24h Move

   +3.6%

   Phase 2a NSCLC data showing 25.4-month median overall survival.

2. Mar 12

   Earnings and runway

   24h Move

   -2.4%

   Q4/FY 2025 results and cash runway into Q1 2028 with financing.

3. Mar 09

   Prostate cancer data

   24h Move

   +3.9%

   Planned presentation of extended Phase 3 prostate cancer trial data.

4. Mar 02

   Inducement option grant

   24h Move

   -3.9%

   Inducement options for a new employee under 2025 Inducement Plan.

5. Feb 24

   Conference presentation

   24h Move

   +2.4%

   Announcement of presentation at TD Cowen health care conference.

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), stock options

2 terms

nasdaq listing rule 5635(c)(4) regulatory

"in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted pursuant"

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.

stock options financial

"granted to five new employees, stock options to purchase an aggregate of 70,000"

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.

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NEEDHAM, Mass., April 02, 2026 (GLOBE NEWSWIRE) -- Candel Therapeutics, Inc. (Candel or the Company) (Nasdaq: CADL), a clinical-stage biopharmaceutical company focused on developing multimodal biological immunotherapies to help patients fight cancer, today announced that on March 31, 2026, the Compensation Committee of Candel’s Board of Directors (the Board) granted to five new employees, stock options to purchase an aggregate of 70,000 shares of the Company’s common stock, with a per share exercise price of $4.90.

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 an 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 did Candel Therapeutics (CADL) announce on March 31, 2026 regarding stock option grants?

Candel granted inducement stock options totaling 70,000 shares to five new employees on March 31, 2026. According to the company, options carry a $4.90 exercise price and were made under the 2025 Inducement Plan adopted December 24, 2025.

What is the vesting schedule for the CADL inducement options granted March 31, 2026?

The options vest 25% after the first anniversary of employment, then monthly over 36 months thereafter. According to the company, remaining 75% vests in 36 equal monthly installments, subject to continued service through each vesting date.

How were the CADL inducement awards structured under Nasdaq Listing Rule 5635(c)(4)?

Awards were granted as inducement awards under Nasdaq Listing Rule 5635(c)(4) to support new hires. According to the company, grants were approved by the compensation committee and made pursuant to the 2025 Inducement Plan terms.

Does the CADL March 31, 2026 grant indicate any change to the company’s equity plan?

The grants were made under a plan the board adopted December 24, 2025 and do not by themselves change the plan. According to the company, the awards were issued pursuant to the existing 2025 Inducement Plan terms.