Candel Therapeutics, Inc.
CADL evidence brief
What we can confirm
- BioSniper Score:
- 6.0 / 10
- Market Cap:
- $806.9M
What it means
What to watch
Prepared research question
What matters most for CADL—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CADL
Candel Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing multimodal immunotherapies for cancer, with lead candidate aglatimagene besadenovec (CAN-2409) in Phase 3 trials for prostate cancer and non-small cell lung cancer.
Key risk: No approved products or revenue
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Market Cap
$806.9M
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 5 clinical trials for Candel Therapeutics, Inc..
Candel Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing multimodal immunotherapies for cancer, with lead candidate aglatimagene besadenovec (CAN-2409) in Phase 3 trials for prostate cancer and non-small cell lung cancer.
- Cash and cash equivalents of $201.6M as of June 30, 2026 [sec].
- Planning to submit a Biologics License Application (BLA) for aglatimagene besadenovec in localized, intermediate- to high-risk prostate cancer in Q4 2026 [news · 2026-08-13].
- Pivotal Phase 3 data published in The Lancet Oncology showed a statistically significant improvement in disease-free survival with aglatimagene plus radiotherapy versus radiotherapy alone in prostate cancer [news · 2026-08-13].
- Net loss of $38.9M for the quarter ended June 30, 2026 [sec].
- Shareholders' equity of $126.1M and total debt of $46.7M as of June 30, 2026 [sec].
What works
- Lead candidate aglatimagene besadenovec (CAN-2409) has Phase 3 data in prostate cancer showing statistically significant improvement in disease-free survival, with a BLA submission planned for Q4 2026 [news · 2026-08-13].
- Cash position of $201.6M as of June 30, 2026 provides runway to advance key clinical programs [sec].
- The company has a second clinical-stage candidate, linoserpaturev, and a preclinical enLIGHTEN™ Discovery Platform generating novel multimodal immunotherapies [sec_mda · as of 2026-08-13].
What to weigh
- The company has never generated any revenue from product sales and has incurred significant operating losses since inception [sec_mda · as of 2026-08-13].
- Operating expenses are expected to increase substantially as the company advances clinical trials, develops manufacturing capabilities, and prepares for potential commercialization [sec_mda · as of 2026-08-13].
- The company faces numerous risks and uncertainties in research, development, and commercialization, making it difficult to estimate working capital requirements [sec_mda · as of 2026-08-13].
From the filings
Quoted directly from source documents.
Cash position as of June 30, 2026
“Our cash and cash equivalents totaled $201.6 mi”
SEC MD&A · August 13, 2026
BLA submission planned for Q4 2026
“Planning to submit a Biologics License Application (BLA) for aglatimagene besadenovec (aglatimagene) in localized, intermediate- to high-risk prostate cancer in Q4 2026”
News · August 13, 2026
Phase 3 data published in The Lancet Oncology
“Pivotal phase 3 clinical data published in The Lancet Oncology demonstrated a statistically significant improvement in disease-free survival with aglatimagene plus standard-of-care radiotherapy compared with radiotherapy alone in patients with localized, intermediate- to high-risk prostate cancer”
News · August 13, 2026
No revenue from product sales
“Since our inception, we have not generated any revenue from product sales and have incurred significant operating losses.”
SEC MD&A · August 13, 2026
Catalyst timeline
- 2026-06-15 · Phase 3 start: Aglatimagene besadenovec plus prodrug and pembrolizumab versus docetaxel for stage IV non-squamous NSCLC progressing on pembrolizumab-based treatment — This Phase 3 trial initiation marks a key expansion of the aglatimagene program into a larger NSCLC population.
Risks & what to watch (3)›
Key risks
- No approved products or revenue — The company has never generated product revenue and expects continued operating losses [sec_mda · as of 2026-08-13].
- Increasing operating expenses — Expenses are expected to rise significantly as clinical trials, manufacturing, and regulatory activities expand [sec_mda · as of 2026-08-13].
- Uncertainty in capital requirements — Future funding needs depend on many factors, including clinical progress, regulatory outcomes, and collaboration terms [sec_mda · as of 2026-08-13].
What to watch
- BLA submission for aglatimagene besadenovec in prostate cancer, planned for Q4 2026 [news · 2026-08-13].
- Phase 3 trial initiation for aglatimagene in stage IV non-small cell lung cancer (NSCLC) [catalyst · 2026-06-15].
- Data presentations from the aglatimagene program in NSCLC at the SITC 2026 Annual Meeting [news · 2026-10-02].
- Progress of the Phase 2 biomarker study in localized, favorable intermediate-risk prostate cancer [catalyst · 2025-10-30].
Sources: Catalysts · News · Pipeline · SEC MD&A · Generated October 6, 2026 · How we verify sources →
Run Candel Therapeutics, Inc. through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available Candel Therapeutics, Inc. facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 0.65 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
0 buys · 3 sells (180d)
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
114
Total value held
$212.5M
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 10,987,017 | $53.8M |
| rtw investments, lp | 6,422,018 | $31.5M |
| acorn capital advisors, llc | 3,497,948 | $17.2M |
| blackrock, inc. | 3,109,042 | $15.2M |
| saturn v capital management lp | 2,896,588 | $14.2M |
| portolan capital management, llc | 2,894,325 | $14.2M |
| vanguard capital management llc | 2,462,757 | $12.1M |
| vestal point capital, lp | 1,125,000 | $5.5M |
| millennium management llc | 1,060,086 | $5.2M |
| geode capital management, llc | 1,035,435 | $5.1M |
Showing top 10 of 114 institutional holders of Candel Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 26.1%
- Days to cover
- 8.9
- Shares short
- 14,681,430
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CADL short interestGovernance
Frequently asked questions
What is the AI investment thesis for Candel Therapeutics, Inc.?
Candel Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing multimodal immunotherapies for cancer, with lead candidate aglatimagene besadenovec (CAN-2409) in Phase 3 trials for prostate cancer and non-small cell lung cancer.
Who is the CEO of Candel Therapeutics, Inc.?
Dr. Paul-Peter Tak FOCIS, M.D., Ph.D. is the chief executive officer of Candel Therapeutics, Inc. (CADL).
Where is Candel Therapeutics, Inc. headquartered?
Candel Therapeutics, Inc. (CADL) is headquartered in Needham, MA, United States.
What therapeutic areas does Candel Therapeutics, Inc. focus on?
Candel Therapeutics, Inc. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.