Every 10-Q that Candel Therapeutics, Inc. (CADL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CADL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CADL filings page.
Candel Therapeutics, Inc. reported substantially higher operating investment and losses for the three and six months ended June 30, 2026, while significantly strengthening its balance sheet. Total assets were $208.1 million, driven largely by cash and cash equivalents of $201.6 million, up from $119.7 million at year-end after a $100 million follow-on equity offering (net proceeds $93.5 million) and $24.2 million raised through at-the-market sales.
Operating expenses more than doubled year over year, with research and development of $19.8 million and general and administrative of $6.9 million in the quarter, leading to a Q2 2026 net loss of $38.9 million versus a $4.8 million loss a year earlier. For the first half, the company posted a net loss of $47.8 million versus $2.6 million of net income in 2025, reflecting increased clinical spend, higher commercial readiness costs, and a non-cash loss from remeasuring warrant liabilities. Net cash used in operating activities was $35.2 million in the first half. Candel also has a $50 million Trinity Capital term loan outstanding and believes its current resources will fund planned operations for at least 12 months. The company continues to advance aglatimagene and linoserpaturev through clinical trials, supported by an RTW royalty-based funding agreement contingent on future FDA approval of aglatimagene.
Candel Therapeutics reported a net loss of $8.9 million for the three months ended March 31, 2026, compared with net income of $7.4 million a year earlier. The shift was driven by higher research and development spending of $9.8 million and general and administrative expenses of $6.4 million, reflecting expanded clinical and commercial-readiness activities.
Cash and cash equivalents rose to $194.8 million, up from $119.7 million at year-end 2025, primarily due to a February 2026 follow-on equity offering that raised $100 million in gross proceeds and $93.5 million in net proceeds. The company also has a $50.0 million term loan outstanding under its Trinity facility and an accumulated deficit of $239.2 million. Management expects existing resources to fund operations for at least 12 months. Candel continues to advance its viral immunotherapy pipeline, highlighted by positive phase 3 data for aglatimagene in localized prostate cancer and plans to file a Biologics License Application in late 2026.
Candel Therapeutics (CADL) reported a Q3 2025 net loss of $11.3 million, or $0.21 per share. Operating expenses rose to $13.2 million, driven by research and development of $8.5 million and general and administrative of $4.7 million. Other income benefited from a $1.1 million gain related to warrant liability remeasurement.
For the nine months ended September 30, 2025, net loss was $8.7 million, reflecting a $21.7 million non-cash gain from changes in warrant liability. Cash, cash equivalents and restricted cash totaled $87.2 million at quarter-end, with total assets of $93.6 million and stockholders’ equity of $80.1 million.
Subsequent to quarter-end, the company entered a new term loan facility of up to $130.0 million and drew $50.0 million on October 14, 2025 at a floating rate initially 10.25%, issued lender warrants, and repaid its SVB loan. A new $300.0 million shelf and a $50.0 million ATM were established in August 2025; no sales occurred under the 2025 ATM through November 5, 2025. As of November 5, 2025, shares outstanding were 54,898,303. Management believes existing resources will fund planned operations for at least 12 months.
Candel Therapeutics, Inc. (CADL) reported interim results showing material clinical progress and a strengthened balance sheet as of June 30, 2025. Cash and cash equivalents totaled $100.7 million and total assets were $105.97 million. For the six months ended June 30, 2025 the company reported net income of $2.6 million, driven largely by a $20.6 million favorable change in the fair value of a warrant liability, compared with a net loss of $30.5 million in the prior-year period. The company recorded operating expenses of $19.3 million for the six months.
On the clinical front, CAN-2409 achieved a positive phase 3 result in intermediate-to-high-risk localized prostate cancer under an FDA SPA (p=0.0155; HR 0.70), with median DFS not reached vs. 86.1 months for placebo. Management expects to submit a biologics license application in Q4 2026. Additional positive clinical data were reported for CAN-2409 in NSCLC and pancreatic cancer and ongoing CAN-3110 data support repeat-dosing exploration. The filing also discloses an accumulated deficit of $189.6 million, a current term loan balance and the company’s statement that additional financing will be required to fund operations beyond the next 12 months if circumstances change.