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Candel Therapeutics Announces $15M Stock Offering

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Candel Therapeutics Announces $15M Stock Offering

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Candel Therapeutics ( (CADL) ) has shared an update.

On June 23, 2025, Candel Therapeutics announced a securities purchase agreement to issue and sell approximately 3.2 million shares of common stock in a registered direct offering, expected to raise about $15 million. The offering, involving existing healthcare-focused institutional investors and company insiders, aims to support pre-commercialization activities for CAN-2409 in prostate cancer and other corporate purposes, reflecting strong investor confidence in Candel’s innovative cancer treatment approach.

The most recent analyst rating on (CADL) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Candel Therapeutics stock, see the CADL Stock Forecast page.

Spark’s Take on CADL Stock

According to Spark, TipRanks’ AI Analyst, CADL is a Underperform.

Candel Therapeutics is currently facing substantial financial challenges with no revenue and ongoing cash burn, which heavily weighs down its stock score. Despite positive clinical trial results offering future potential, the current technical and valuation metrics remain unfavorable, reflecting the speculative nature of the stock.

To see Spark’s full report on CADL stock, click here.

More about Candel Therapeutics

Candel Therapeutics is a clinical-stage biopharmaceutical company focused on developing multimodal biological immunotherapies to help patients fight cancer. The company has established two clinical-stage platforms based on genetically modified adenovirus and herpes simplex virus gene constructs. Their lead product candidate, CAN-2409, is aimed at treating prostate cancer, non-small cell lung cancer, and pancreatic ductal adenocarcinoma.

Average Trading Volume: 975,834

Technical Sentiment Signal: Sell

Current Market Cap: $238M

Find detailed analytics on CADL stock on TipRanks’ Stock Analysis page.

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