Candel Therapeutics Inc (NASDAQ:CADL) has provided a corporate update, highlighting anticipated milestones for this year building upon significant achievements in 2024. Updated overall survival data from phase 2a trials of its lead candidate CAN-2409 in pancreatic ductal adenocarcinoma (PDAC) and non-small cell lung cancer (NSCLC) are expected in the first quarter of 2025.
In the New Year, many small-cap biotech companies will be advancing promising clinical trials with innovative therapies aimed at addressing significant unmet medical needs. Key trials include those focused on cancer immunotherapies, treatments for neurological conditions like multiple sclerosis and Alzheimer's, as well as novel approaches to metabolic diseases and chronic pain.
Candel Therapeutics Inc (NASDAQ:CADL) shares skyrocketed by nearly 43% on Thursday following a string of positive news surrounding the company's cancer drug pipeline. Last week the Needham, Massachusetts-based company released promising results from its Phase 3 clinical trial for CAN-2409, its experimental immunotherapy for localized prostate cancer.
Candel Therapeutics Inc (NASDAQ:CADL) announced on Monday the completion of a public offering that raised approximately $92 million in gross proceeds. The offering included 12 million shares of common stock at $6 per share and pre-funded warrants for 3.3 million shares at $5.99 per warrant, allowing buyers to acquire shares at an exercise price of $0.01 each.
U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 150 points on Friday.
Candel Therapeutics Inc (NASDAQ:CADL) has announced an $80 million underwritten public offering of its common stock and pre-funded warrants. The offering includes approximately 10 million shares of common stock at $6 per share and approximately 3.33 million pre-funded warrants priced at $5.99 each, representing the public offering price minus a $0.01 per share exercise cost.
Candel stock rallies 68% on meeting the primary goal in a phase III study of CAN-2409 combo therapy compared to SOC radiation therapy for prostate cancer.
Candel's phase 3 trial for CAN-2409 in high-risk prostate cancer met its primary endpoint, showing a 14.5% improvement in disease-free survival over placebo. Financially, CADL holds $16.6 million in cash, facing a likely equity raise soon due to high operational expenses and limited cash runway. Despite a phase 2b trial setback in lower-risk prostate cancer, the phase 3 success supports a potential FDA submission by mid-2025.
Candel Therapeutics Inc (NASDAQ:CADL) is soaring today, up 164% at $12.17 at last glance and earlier hitting a three-year high of $14.60, after the biotech company's prostate cancer immunotherapy treatment, CAN-2409, met its goal in a late-stage study.
On Wednesday, Candel Therapeutics, Inc. CADL announced results from a phase 3 trial of CAN-2409 viral immunotherapy in intermediate-to-high-risk, localized prostate cancer patients.
Shares of Candel Therapeutics skyrocketed Wednesday after the biotech company's prostate cancer treatment succeeded in a Phase 3 study. The post Candel Skyrockets By Triple Digits On A Potential First-In-20-Years Cancer Drug appeared first on Investor's Business Daily.
Candel Therapeutics Inc (NASDAQ:CADL) announced that its experimental immunotherapy, CAN-2409, met its main goal in a Phase 3 trial, significantly improving disease-free survival in patients with localized prostate cancer. The trial showed a 14.5% improvement in disease-free survival (DFS) at 54 months for the CAN-2409 group compared to the control arm and significantly reduced recurrence risk while improving prostate cancer-free survival.