Candel Halts Development of CAN-2409 for Prostate Cancer
Development Pause: Candel Therapeutics is pausing the development of CAN-2409 for borderline resectable pancreatic adenocarcinoma to focus on localized, intermediate/high risk pancreatic cancer and non-small cell lung cancer (NSCLC).
Clinical Trials Update: The company is preparing for a Biologics License Application (BLA) submission for CAN-2409 in localized pancreatic cancer and plans to initiate a phase 3 study in NSCLC by Q2 2026.
Financial Performance: Candel's Q3 financial results fell short of expectations, indicating challenges in their financial performance.
Market Reactions: The stock prices of Candel and other biopharma companies like Erasca and Xencor have declined following a downgrade by BofA due to a perceived lack of near-term catalysts.
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Candel Therapeutics to Hold Online R&D Event on December 5, 2025
Candel Therapeutics R&D Event: Candel Therapeutics will host a virtual Research and Development Day on December 5, 2025, featuring presentations and discussions on their viral immunotherapy approach and oncology pipeline, including insights from leading experts in the field.
Focus on CAN-2409 and CAN-3110: The event will highlight Candel's lead product candidates, CAN-2409 and CAN-3110, which are designed to treat various cancers through innovative immunotherapy methods, with promising results from ongoing clinical trials.
Regulatory Designations: CAN-2409 has received multiple regulatory designations from the FDA, including Fast Track and Orphan Drug Designations, indicating its potential in treating difficult-to-treat solid tumors like localized prostate cancer and non-small cell lung cancer.
Forward-Looking Statements: The company cautions that the information shared includes forward-looking statements that are subject to risks and uncertainties, which may affect the actual outcomes of their development programs and regulatory approvals.
Citigroup Upholds Buy Rating for Candel Therapeutics (CADL)
Analyst Recommendation: Citigroup has maintained a Buy recommendation for Candel Therapeutics, with a projected one-year price target of $19.38/share, indicating a potential upside of 316.33% from its current price of $4.66/share.
Fund Sentiment: There are 179 funds reporting positions in Candel Therapeutics, with a slight increase in ownership. The average portfolio weight for these funds is 0.07%, and the total shares owned by institutions decreased by 0.41% over the last three months.
Shareholder Activity: Notable shareholders include FBIOX, Acorn Capital Advisors, and IWM, with varying changes in their holdings. Acorn Capital Advisors increased its stake by 16.60%, while Portolan Capital Management decreased its holdings by 17.16%.
Market Outlook: The put/call ratio for Candel Therapeutics is 0.33, suggesting a bullish outlook among investors, while the projected annual revenue is expected to rise significantly by 79,854.84%.
