Candel Therapeutics, Inc. ( (CADL) ) has released its Q3 earnings. Here is a breakdown of the information Candel Therapeutics, Inc. presented to its investors.
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Candel Therapeutics, Inc. is a clinical-stage biopharmaceutical company specializing in the development of multimodal biological immunotherapies aimed at treating cancer, leveraging novel adenovirus and herpes simplex virus gene constructs.
In its third-quarter 2025 earnings report, Candel Therapeutics highlighted significant advancements in its clinical programs, particularly with its lead product candidates CAN-2409 and CAN-3110, while also securing a substantial financial boost through a term loan facility.
Key financial metrics revealed an increase in research and development expenses to $8.5 million, driven by manufacturing and regulatory costs for CAN-2409 programs. General and administrative expenses also rose to $4.7 million due to commercial readiness efforts. The company reported a net loss of $11.3 million for the quarter, with cash and cash equivalents standing at $87.0 million, bolstered by a $130 million term loan facility with Trinity Capital Inc.
Strategically, Candel is preparing to initiate a pivotal phase 3 trial for CAN-2409 in non-small cell lung cancer by Q2 2026 and plans to submit a Biologics License Application for CAN-2409 in prostate cancer by Q4 2026. The company also reported promising data from its phase 1b trial of CAN-3110 in recurrent high-grade glioma, supporting further clinical development.
Looking ahead, Candel Therapeutics is poised to advance its clinical pipeline with a focus on prostate and lung cancer therapies, supported by a strengthened financial position and strategic collaborations, aiming to deliver innovative cancer treatments in the coming years.