CADL News & Events

The deal range was $5.45-$5.65. LifeSci Capital acted as lead book running manager for the offering.

The deal range was $5.45-$5.65. LifeSci Capital acted as lead book running manager for the offering.

Candel Therapeutics announced a $100M royalty funding agreement with funds managed by RTW Investments, subject to FDA approval of aglatimagene in intermediate- to high-risk, localized prostate cancer. The commercial launch royalty financing will become available upon FDA's approval of aglatimagene, and satisfaction of certain other customary conditions. Under the terms of the agreement, RTW will receive a tiered single digit percentage of annual net sales of aglatimagene in the U.S., subject to a cap.

Candel Therapeutics announced the launch of an underwritten public offering of $100M of its common stock. All shares of common stock to be sold in the offering will be offered by Candel. Candel intends to use the net proceeds from the offering to complete critical launch readiness, medical affairs, pre-commercialization, and commercial activities for aglatimagene besadenovec in early, localized prostate cancer, ongoing development costs related to the phase 3 trial of aglatimagene in non-small cell lung cancer, and for general corporate purposes. Citigroup, Cantor, and Stifel are acting as joint bookrunning managers for the offering. LifeSci Capital is acting as lead manager for the offering. H.C. Wainwright & Co. and Brookline Capital Markets, a division of Arcadia Securities, are acting as co-managers for the offering.