Candel Therapeutics said on Wednesday its experimental prostate cancer drug met the main goal of a late-stage trial, sending the company's shares up 64% in premarket trading.
Cancer treatment has long been dominated by traditional approaches such as surgery, radiation, and chemotherapy. But in recent years, a wave of innovation has emerged, driven by the promise of immunotherapies that harness the body's own immune system to fight cancer.
In the biopharmaceutical world, where innovation and breakthroughs often dominate headlines, a fundamental question is frequently overlooked: are we truly listening to patients? For Paul Peter Tak CEO of Candel Therapeutics Inc (NASDAQ:CADL), the answer has shaped a career rooted in both scientific discovery and personal resilience.
Candel Therapeutics Inc (NASDAQ:CADL) CEO Paul Peter Tak expressed optimism for a "paradigm shift" in prostate cancer treatment as the biopharmaceutical company moves closer to phase 2b and phase 3 trial data releases for its lead therapy, CAN-2409. Tak stated the data, expected in the fourth quarter of 2024, could pave the way for new regulatory approvals for CAN-2409 in non-metastatic, localized prostate cancer.
Candel Therapeutics Inc (NASDAQ:CADL) recently presented insights into its oncolytic virus therapy, CAN-3110, at the Society for Immunotherapy of Cancer (SITC) conference. The company's Chief Scientific Officer, Dr.
Candel Therapeutics Inc (NASDAQ:CADL) announced that preclinical data from its CAN-3110 program indicate promising antitumor activity in melanoma, suggesting a potential expansion beyond the candidate's original focus on recurrent high-grade glioma. The findings, to be presented at the Society for Immunotherapy of Cancer (SITC) annual meeting, highlight CAN-3110's dual mechanisms of oncolysis and immune activation in melanoma models.
Candel Therapeutics is working on intratumoral oncolytic virus therapy. A pair of mid to late-stage trials in prostate cancer are expected to read out in Q4. Positive findings could be the position of strength the company needs to raise funds, which are in dire straits.
Candel (CADL) surges 431% in the year-to-date period, driven by positive developmental and regulatory updates from the clinical program for CAN-2409 across two different cancer indications.
Candel's (CADL) CAN-2409 prolongs overall survival in a phase II study for treating patients with advanced non-small cell lung cancer who are non-responsive to immune checkpoint inhibitor therapy.