Candel Therapeutics (NASDAQ: CADL) extends Needham HQ lease to 2029

Rhea-AI Filing Summary

Candel Therapeutics, Inc. reported that on August 18, 2025 it signed a First Amendment to its lease with 117 Kendrick DE, LLC for approximately 15,197 rentable square feet at 117 Kendrick Street in Needham, Massachusetts. The amendment extends the lease term from August 31, 2026 to August 31, 2029. Starting September 1, 2026, annual base rent will be $607,880 and will rise by $15,197 each year during the extended term. The full lease amendment is filed as an exhibit and certain confidential portions have been redacted.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 18, 2025

CANDEL THERAPEUTICS, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-40629	52-2214851
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
117 Kendrick St Suite 450
Needham, Massachusetts				02494
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (617) 916-5445

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value per share		CADL		The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On August 18, 2025, Candel Therapeutics Inc. (the “Company”) entered into a First Amendment to Lease Agreement (the “Lease Amendment”), which amends that certain Lease Agreement with 117 Kendrick DE, LLC (the “Landlord”), dated as of February 4, 2019 (the “Lease”), providing for the lease of approximately 15,197 rentable square feet in the building located at and commonly known as located at 117 Kendrick Street, Needham, Massachusetts (the “Premises”).

Pursuant to the Lease Amendment, the term of the Lease was extended from August 31, 2026 to August 31, 2029 (the “Extended Term”). Under the terms of the Lease Amendment, commencing on September 1, 2026, the base rent for the Premises payable by the Company to the Landlord will be $607,880 per year and will increase by $15,197 annually during the Extended Term.

The foregoing summary of the material terms of the Lease Amendment does not purport to be a complete description of the Lease Amendment and is qualified in its entirety by reference to the complete text of the Lease Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
10.1*		First Amendment to Lease of Premises at 117 Kendrick Street, Needham, Massachusetts by and between 117 Kendrick DE, LLC and the Registrant dated as of August 18, 2025.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Portions of this exhibit have been omitted by means of redacting a portion of the text and replacing it with “[***]” because they are both (i) not material and (ii) the type of information that the registrant treats as private or confidential.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			Candel Therapeutics, Inc.
Date:	August 21, 2025	By:	/s/ Paul Peter Tak
			Paul Peter Tak, M.D., Ph.D., FMedSci President and Chief Executive Officer

FAQ

What lease change did Candel Therapeutics (CADL) disclose in this 8-K?

Candel Therapeutics disclosed a First Amendment to its lease for approximately 15,197 rentable square feet at 117 Kendrick Street, Needham, Massachusetts, extending the existing lease agreement.

How long is Candel Therapeutics’ extended lease term for its Needham premises?

The lease term was extended from August 31, 2026 to August 31, 2029, creating a three-year extended term for the Needham premises.

What is the new annual base rent Candel Therapeutics (CADL) will pay under the lease amendment?

Beginning on September 1, 2026, Candel Therapeutics will pay annual base rent of $607,880 for the premises under the amended lease.

How will Candel Therapeutics’ rent change over the extended lease term?

Under the lease amendment, the annual base rent will increase by $15,197 each year during the extended term from 2026 through 2029.

Who is the landlord under Candel Therapeutics’ amended lease?

The landlord for the premises at 117 Kendrick Street is 117 Kendrick DE, LLC, as stated in the lease amendment.

Where can investors find the full text of Candel Therapeutics’ lease amendment?

The complete First Amendment to the Lease is filed as Exhibit 10.1, with certain immaterial and confidential portions redacted and marked with “[***]”.

Does this 8-K include any financial statements for Candel Therapeutics (CADL)?

The 8-K identifies the lease amendment as a material definitive agreement and lists it as Exhibit 10.1; it does not present separate financial statements in this excerpt.