Candel Therapeutics, Inc. filings document a clinical-stage oncology company developing multimodal biological immunotherapies and reporting as a Nasdaq-listed issuer of common stock. Its proxy materials cover director elections, auditor ratification and annual-meeting voting matters, while Form 8-K reports furnish operating and financial results and research-and-development presentations.
Other filings disclose material agreements and capital-structure matters, including term-loan financing and facility lease amendments, along with clinical and regulatory disclosures tied to aglatimagene besadenovec and linoserpaturev. The filing record also reflects governance matters, shareholder voting mechanics and exhibit-based disclosures for key corporate actions.
Candel Therapeutics entered into an underwriting agreement for a public stock offering of 18,348,624 common shares at $5.45 per share, for expected gross proceeds of $100 million. Underwriters also have a 30‑day option to buy up to 2,752,293 additional shares.
Candel estimates net proceeds of about $93.5 million, or $107.6 million if the option is fully exercised. The company plans to use the cash to prepare for the launch and commercialization of CAN‑2409 in early localized prostate cancer, continue the phase 3 trial of CAN‑2409 in non‑small cell lung cancer, and for general corporate purposes. Based on the expected proceeds from the base deal, Candel believes its cash and cash equivalents will fund operations into the first quarter of 2028.
Candel Therapeutics is offering 18,348,624 shares of common stock in a primary offering at a public offering price of $5.45 per share, with underwriters granted a 30-day option to purchase up to an additional 2,752,293 shares. The offering’s gross proceeds at the public offering price are shown as $100,000,000.80, with underwriting discounts of $6,000,000.05 and estimated proceeds to the company before expenses of $94,000,000.75.
The prospectus supplement discloses a related Purchase Agreement with funds managed by RTW Investments, LP under which the company would receive $100,000,000 upon FDA marketing approval of CAN-2409 for localized prostate cancer in exchange for a tiered U.S. royalty that begins at 4.67% (with a lower 1.33% tier above $1 billion in annual net sales and a capped Purchaser recovery of $250,000,000). Shares outstanding were 54,895,849 as of September 30, 2025.
Candel Therapeutics is offering $100,000,000 of its common stock. The preliminary prospectus supplement dated February 19, 2026 states the company is offering $100 million of common stock, with an underwriter option to purchase up to an additional $15 million of shares within 30 days.
The cover states the offering is of shares of common stock listed on the Nasdaq Global Market under the symbol CADL. The prospectus supplement references preliminary cash of approximately $119.7 million as of December 31, 2025 and discusses a separate Purchase Agreement providing for a conditional $100 million payment from funds managed by RTW Investments, LP upon FDA marketing approval of CAN-2409, in exchange for tiered U.S. royalties.
Candel Therapeutics entered a royalty-based funding agreement with funds managed by RTW Investments tied to its lead therapy aglatimagene besadenovec (CAN-2409) for intermediate- and high-risk localized prostate cancer. RTW will pay $100 million to Candel if the therapy receives U.S. FDA approval, providing non-dilutive capital for a potential U.S. commercial launch.
In return, RTW will receive a tiered royalty on U.S. net sales: 4.67% on annual sales up to $1 billion and 1.33% on sales above that level, with a ratchet mechanism that can raise the lower tier to 6.67% if sales fall below specified thresholds. Royalty payments start after the first U.S. commercial sale and stop once RTW has received $250 million in total royalties, and the agreement includes a buy-out option for change-of-control or product sale scenarios.
Candel also reported preliminary, unaudited cash and cash equivalents of approximately $119.7 million as of December 31, 2025, which, combined with the potential RTW funding, would support commercialization and further development if aglatimagene is approved.
Candel Therapeutics Chief Technology Officer Seshu Tyagarajan received a new stock option grant. On January 26, 2026, he was granted options to purchase 154,000 shares of Candel Therapeutics common stock at an exercise price of $6.01 per share.
The options vest in forty-eight equal monthly installments starting after January 26, 2026, as long as he continues to serve the company on each vesting date. After this grant, he beneficially owns 154,000 stock options directly.
Candel Therapeutics Chief Medical Officer William Garrett Nichols received a stock option award reported on a Form 4. On January 26, 2026, he was granted an option to buy 136,500 shares of Candel common stock at an exercise price of $6.01 per share.
The option vests in 48 equal monthly installments following January 26, 2026, contingent on his continued service. The option expires on January 26, 2036. After this grant, Nichols directly beneficially owns 136,500 derivative securities linked to Candel common stock.
Candel Therapeutics, Inc. reported a new stock option grant to its Chief Financial Officer, Charles Schoch. On January 26, 2026, he received options to purchase 232,000 shares of common stock at an exercise price of $6.01 per share.
These options vest over time. The underlying shares will vest and become exercisable in forty-eight equal monthly installments following January 26, 2026, and each installment depends on his continued service with the company on the relevant vesting date.
Candel Therapeutics, Inc. reported that its Chief Executive Officer and director, Paul Peter Tak, received a grant of stock options. On January 26, 2026, he was awarded an option to purchase 629,000 shares of common stock at an exercise price of $6.01 per share.
The option was granted directly to him and is subject to time-based vesting. The underlying shares vest in 48 equal monthly installments starting after January 26, 2026, contingent on his continued service with the company on each vesting date. Following this grant, he beneficially owned stock options for 629,000 shares.
Candel Therapeutics Chief Scientific Officer granted stock options
Candel Therapeutics’ Chief Scientific Officer, Francesca Barone, received a stock option to buy 232,000 shares of common stock at an exercise price of $6.01 per share. The option was granted on January 26, 2026 and expires on January 26, 2036.
The option vests over time rather than all at once. The shares underlying the option vest and become exercisable in 48 equal monthly installments following January 26, 2026, as long as Barone continues serving the company on each vesting date. After this grant, she beneficially owns 232,000 stock options directly.
BlackRock, Inc. has filed a Schedule 13G reporting beneficial ownership of 2,859,610 shares of Candel Therapeutics Inc. common stock, representing 5.2% of the class as of 12/31/2025. BlackRock reports sole voting power over 2,821,816 shares and sole dispositive power over all 2,859,610 shares, with no shared voting or dispositive power.
The filing notes that various underlying clients or investors have rights to dividends or sale proceeds, but no single person has more than five percent of Candel’s outstanding common shares. BlackRock certifies that the shares were acquired and are held in the ordinary course of business, and not for the purpose of changing or influencing control of Candel Therapeutics.