Candel Therapeutics, Inc. develops clinical-stage multimodal biological immunotherapies for cancer, including off-the-shelf viral immunotherapy platforms based on genetically modified adenovirus and herpes simplex virus constructs. Company news commonly covers aglatimagene besadenovec, also called aglatne or CAN-2409, in prostate cancer and non-small cell lung cancer, and linoserpaturev, or CAN-3110, from its HSV platform in recurrent high-grade glioma.
Updates also include clinical-data presentations, FDA designations or clearances, research-and-development communications, quarterly financial results, financing activity, and Nasdaq inducement grants under the company’s equity plans.
Candel Therapeutics, Inc. (Nasdaq: CADL) has completed patient enrollment in its pivotal phase 3 study of CAN-2409 for intermediate-high risk localized prostate cancer. This randomized, placebo-controlled trial evaluates CAN-2409 combined with valacyclovir alongside standard external beam radiation therapy. The primary focus is on disease-free survival and aims to provide an innovative treatment option to improve patient outcomes while minimizing the side effects of long-term androgen deprivation therapy. Results are anticipated in 2024, potentially influencing future treatment protocols.
Candel Therapeutics announced the closing of an additional 887,994 shares of common stock at $8.00 each, generating approximately $7.1 million. This follows their earlier initial public offering of 9,000,000 shares, raising total gross proceeds to about $79.1 million. Jefferies, Credit Suisse, BMO Capital Markets, and UBS Investment Bank served as joint book-running managers. Candel is focused on developing oncolytic viral immunotherapies aimed at cancer treatment through engineered viruses that induce immunogenic cell death.
Candel Therapeutics has announced the pricing of its initial public offering (IPO) of 9,000,000 shares at $8.00 per share, aiming for gross proceeds of $72 million. Trading on the Nasdaq Global Market under the ticker CADL is set to commence on July 27, 2021, with the offering expected to close on July 29, 2021. The underwriters also hold a 30-day option to acquire an additional 1,350,000 shares. Candel focuses on developing oncolytic viral immunotherapies to treat cancer.