Candel Therapeutics strengthens balance sheet as lead cancer therapy advances

Candel Therapeutics Inc (NASDAQ:CADL) is advancing plans to bring its pb crab immunotherapy toward imaginable commercialization, outlining caller signifier 3 trials and a planned regulatory filing portion reporting its 4th fourth and full-year 2025 fiscal results.

“During the quarter, we made meaningful advancement crossed our objective pipeline and pre-commercial readiness, entering 2026 with beardown momentum and a robust acceptable of imaginable value-driving catalysts,” Candel CEO Paul Peter Tak said successful a statement.

The clinical-stage biopharmaceutical institution said it plans to initiate a pivotal signifier 3 objective proceedings of its pb candidate, aglatimagene besadenovec (CAN-2409), successful patients with progressive metastatic non-squamous non-small compartment lung crab (NSCLC) who person failed immune checkpoint inhibitor attraction successful the 2nd 4th of 2026. The institution besides intends to taxable a Biologics License Application (BLA) for the therapy successful localized intermediate- to high-risk prostate crab successful the 4th fourth of 2026.

Candel said it continues preparations for a imaginable regulatory filing for aglatimagene successful prostate cancer, including chemistry, manufacturing and controls work, arsenic good arsenic mentation of objective survey reports and different BLA modules. Follow-up objective information from the signifier 3 prostate crab proceedings is expected successful the 2nd 4th of 2026, with biomarker information anticipated successful the 3rd quarter.

The institution noted that the US Food and Drug Administration has antecedently granted Fast Track and Regenerative Medicine Advanced Therapy designations for aglatimagene successful localized prostate cancer, arsenic good arsenic Fast Track designation for NSCLC.

In NSCLC, Candel is preparing the signifier 3 proceedings pursuing a affirmative end-of-phase 2 gathering with the FDA successful July 2025. Updated endurance information from a signifier 2a proceedings successful patients with signifier III oregon IV NSCLC who progressed contempt immune checkpoint inhibitor attraction is expected successful the archetypal 4th of 2026.

The institution is besides advancing its 2nd program, linoserpaturev (CAN-3110), an investigational therapy for recurrent high-grade glioma. Candel said the FDA cleared an investigational caller cause exertion for the therapy successful the archetypal 4th of 2026, which could enactment aboriginal randomized signifier 2 development.

Candel added that it has paused improvement of aglatimagene successful pancreatic crab to prioritize the prostate crab and NSCLC programs, contempt earlier encouraging information from a signifier 2a proceedings successful borderline resectable pancreatic cancer.

During the period, the institution strengthened its fiscal presumption done respective financing initiatives. In February 2026, Candel raised astir $100 cardinal successful gross proceeds done a follow-on equity offering. The institution besides entered a $130 cardinal word indebtedness installation with Trinity Capital, drafting $50 cardinal astatine closing with entree to up to an further $80 million.