Candel Therapeutics Receives FDA RMAT Designation for CAN-2409

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

On May 28, 2025, Candel Therapeutics announced that the FDA granted RMAT designation to its lead candidate, CAN-2409, for treating newly diagnosed localized prostate cancer in intermediate-to-high-risk patients. This designation, based on positive phase 3 trial results, is expected to expedite the drug’s development and review process, potentially offering a new treatment option for early-stage prostate cancer, a field with limited innovation in recent decades.

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 off-the-shelf multimodal biological immunotherapies designed to elicit an individualized, systemic anti-tumor immune response to help patients fight cancer. The company has established two clinical-stage platforms based on novel, genetically modified adenovirus and HSV gene constructs, with CAN-2409 being the lead product candidate from the adenovirus platform.

Average Trading Volume: 976,524

Technical Sentiment Signal: Sell

Current Market Cap: $280.6M

See more data about CADL stock on TipRanks’ Stock Analysis page.