Candel Therapeutics (CADL) AI Stock Analysis

• Market Cap: $321.70M
• Dividend Yield: N/A
• Average Volume (3M): 812.04K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.35
• Revenue Growth: N/A
• EPS Growth: 68.53%
• Country: US
• Employees: 38
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.21
• Shares Outstanding: 54,898,304
• 10 Day Avg. Volume: 554,525
• 30 Day Avg. Volume: 812,041
• PEG Ratio: -0.15
• Price to Book (P/B): 4.15
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -10.17
• Enterprise Value/Market Cap: 0.62
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -215.97
• Enterprise Value/Ebitda: -9.65
• 1Y Price Target: $18.33
• Price Target Upside: 199.02% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: $6.00 ▼(-2.12% Downside)

The score is primarily constrained by weak financial performance (no revenue, ongoing losses, and significant cash burn) despite a stronger, low-leverage balance sheet. Technicals are moderately favorable with price above major moving averages and positive momentum indicators. Valuation remains challenged due to negative earnings, while recent corporate events provide a modest positive offset via improved financing capacity and pipeline visibility.

Positive Factors

Pipeline Progress

The planned BLA submission for CAN-2409 in prostate cancer indicates significant progress in the pipeline, potentially leading to commercialization and revenue generation.

Regulatory Designations

Receiving multiple FDA designations enhances Candel's credibility and market potential, facilitating regulatory approval processes and boosting investor confidence.

Financial Flexibility

The $130M loan facility provides financial resources to advance clinical trials and commercialization efforts, reducing immediate financial constraints and supporting strategic growth.

Negative Factors

Cash Burn

The significant cash burn indicates ongoing financial strain, requiring continuous external funding and posing risks to long-term sustainability if not managed.

Pre-Revenue Status

Operating without revenue from commercialized products limits financial independence and increases reliance on external financing, impacting long-term viability.

Profitability Challenges

Continued operating losses highlight challenges in achieving profitability, necessitating strategic adjustments to improve financial performance and reduce losses.

Candel Therapeutics Business Overview & Revenue Model

Company Description

Candel Therapeutics, Inc., a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. The company develops CAN-2409, which is in Phase II clinical trails for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma. It also develops CAN-3110, which is in Phase I clinical trials for the treatment of recurrent glioblastoma. The company was formerly known as Advantagene, Inc. and changed its name to Candel Therapeutics, Inc. in November 2020. The company was incorporated in 2003 and is based in Needham, Massachusetts.

How the Company Makes Money

Candel Therapeutics makes money primarily through the development and potential commercialization of its proprietary viral immunotherapy candidates. The company's revenue model is centered on advancing its product candidates through clinical trials to achieve regulatory approval, at which point they can be marketed and sold to healthcare providers and patients. Key revenue streams include potential milestone payments and royalties from licensing agreements with larger pharmaceutical companies, as well as potential future sales of approved therapies. Candel may also receive funding from partnerships and collaborations that support the research and development of its therapeutic candidates. However, as a clinical-stage company, current revenues may be limited, and the company often relies on raising capital through public or private offerings to fund its operations and ongoing research activities.

Candel Therapeutics Financial Statement Overview

Summary

Candel Therapeutics' financial performance is notably weak due to its lack of revenue generation, negative income, and ongoing cash burn typical in the biotech sector. While there is some improvement in balance sheet metrics, the financial situation remains precarious with significant cash flow issues.

Income Statement

Candel Therapeutics has not generated any revenue for the latest year, which is a significant concern for any company, particularly in the biotechnology industry. The consistent lack of revenue growth and negative net income highlights ongoing financial challenges. The EBIT and EBITDA margins are negative, indicating operational inefficiencies and a lack of profitability.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, but this is somewhat misleading due to the lack of equity in recent years. The negative equity in previous years is concerning, though there has been improvement in the latest year. The equity ratio is unstable, suggesting financial vulnerability. The presence of cash and cash equivalents provides some liquidity cushion.

Cash Flow

The cash flow statement reveals negative operating and free cash flows, indicating cash burn, which is typical for biotech firms focused on R&D. However, the substantial negative free cash flow growth rate and reliance on financing activities to sustain operations pose significant financial risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	125.00K	125.00K	125.00K
Gross Profit	-927.00K	-990.00K	-23.98M	125.00K	-14.47M	125.00K
EBITDA	-20.74M	-52.10M	-37.43M	-16.31M	-25.49M	-13.72M
Net Income	-22.76M	-55.18M	-37.94M	-18.79M	-36.12M	-17.68M
Balance Sheet
Total Assets	93.60M	106.87M	41.20M	78.52M	89.20M	38.28M
Cash, Cash Equivalents and Short-Term Investments	86.96M	102.65M	35.41M	70.06M	82.64M	35.05M
Total Debt	6.23M	13.47M	22.76M	22.80M	560.00K	946.00K
Total Liabilities	13.47M	40.54M	28.46M	30.80M	25.07M	61.84M
Stockholders Equity	80.12M	66.33M	12.74M	47.71M	64.14M	-23.56M
Cash Flow
Free Cash Flow	-33.74M	-27.04M	-34.70M	-32.72M	-24.05M	-10.55M
Operating Cash Flow	-33.56M	-27.02M	-34.24M	-31.42M	-22.22M	-9.07M
Investing Cash Flow	-154.00K	-16.00K	-280.00K	-1.30M	-1.83M	38.45M
Financing Cash Flow	104.12M	94.28M	-121.00K	19.97M	71.80M	490.00K

Candel Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.13
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CADL, the sentiment is Positive. The current price of 6.13 is above the 20-day moving average (MA) of 5.72, above the 50-day MA of 5.30, and above the 200-day MA of 5.45, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 61.36 is Neutral, neither overbought nor oversold. The STOCH value of 82.93 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CADL.

Candel Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GLUE	75 Outperform	$1.58B	77.67	9.28%	―	1112.27%	―
CADL	56 Neutral	$321.70M	-10.96	-70.17%	―	―	68.53%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
QSI	50 Neutral	$260.74M	-1.93	-52.44%	―	40.20%	-4.07%
INBX	49 Neutral	$1.10B	-7.16	-144.07%	―	―	―
HUMA	45 Neutral	$218.09M	-4.65	―	―	―	82.23%
TNXP	43 Neutral	$201.67M	-0.02	-64.99%	―	-8.79%	81.36%

Candel Therapeutics Corporate Events

Candel Therapeutics Hosts Virtual R&D Day on Immunotherapy

On December 5, 2025, Candel Therapeutics will host a virtual R&D Day to provide an overview of its viral immunotherapy approach and oncology pipeline. This event is significant as it highlights the company’s progress in developing therapies like CAN-2409 and CAN-3110, which have shown positive clinical trial results and received regulatory designations. The event underscores Candel’s strategic positioning in the oncology market and its potential impact on stakeholders by advancing its pipeline and preparing for commercialization.

The most recent analyst rating on (CADL) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Candel Therapeutics stock, see the CADL Stock Forecast page.

Candel Therapeutics Secures $130M Loan for Trials

On October 14, 2025, Candel Therapeutics announced a $130 million term loan facility with Trinity Capital Inc., which includes an initial draw of $50 million. This strategic financing strengthens Candel’s financial position, enabling the initiation of a phase 3 clinical trial for CAN-2409 in non-small cell lung cancer and supporting potential commercialization efforts in early localized prostate cancer. Additionally, Candel reported positive interim data from its phase 1b clinical trial of CAN-3110 in recurrent glioblastoma, indicating promising survival outcomes. The company plans to focus its resources on advancing therapies for prostate cancer and NSCLC while seeking partnerships for CAN-2409’s development in pancreatic ductal adenocarcinoma.

The most recent analyst rating on (CADL) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Candel Therapeutics stock, see the CADL Stock Forecast page.