CADL Stock — Candel Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical stage biopharmaceutical company focused on developing off-the-shelf viral immunotherapies that elicit an individualized, systemic anti-tumor immune response to help patients fight cancer. Our engineered viruses are designed to induce a systemic anti-tumor response due to induction of immunogenic cell death within the tumor microenvironment, thus releasing tumor neo-antigens and creating a pro-inflammatory microenvironment at the site of injection.

Source: 10-K FY2025 via SEC EDGAR

Share price

$8.75

Market cap

$669.5M

Cash

$201.6M

Enterprise value

$467.9M

Balance sheet

Cash	$201.6M
Debt	$0.0M
Net cash	$201.6M
Enterprise value	$467.9M
Basic shares	76.5M shares
Fully diluted shares	93.4M shares
Fully diluted market cap	$817.0M
Cash per share	$2.63
Quarterly burn	$17.2M
Cash runway	11.7 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

76.5M

Pre-funded warrants

0.0M

Options

8.8M

RSUs

0.3M

Warrants

7.8M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

93.4M

Cap table as of 2026-06-30.

Price history

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Next catalyst

aglatimagene besadenovec · Est. Nov 15, 2026 · quarter midpoint · guided Now

Recently reported

Aglatimagene Besadenovec Phase 2 Mixed · 2026-10-01

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	aglatimagene besadenovec BLA submission in localized prostate cancer	Not disclosed	localized prostate cancer	Q4 2026
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	linoserpaturev Phase 1b clinical trial arm C in recurrent high-grade glioma	Phase 1b	recurrent high-grade glioma	Q4 2026
Mar 15 - Apr 26 in 4 mo	aglatimagene besadenovec	Phase 2	Prostate Cancer Patients Treated by Radiotherapy; Prostate Cancer (Adenocarcinoma)	—
Dec 3, 2031 - Jan 14, 2032 in 62 mo	Aglatimagene Besadenovec	Phase 3	Non-squamous, Non-Small Cell Lung Cancer	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Aglatimagene besadenovec

Phase 3 · Active Modality: off-the-shelf engineered adenovirus immunotherapy (with valacyclovir prodrug)

Aliases CAN-2409

Target HSV-TK

Indications

localized prostate cancer (Phase 3 completed) (Phase 3)
metastatic non-squamous NSCLC (AURORA Phase 3 enrolling) (Phase 3)
NSCLC (Phase 2a) (Phase 2)
pancreatic ductal adenocarcinoma (Phase 2a, paused) (Phase 2)

Status note Prostate Phase 3 completed with topline reported; AURORA pivotal NSCLC Phase 3 enrolling since June 2026; pancreatic PDAC program paused; no discontinuation disclosed.

Linoserpaturev

Phase 1 · Active Modality: oncolytic herpes simplex virus (rQNestin)

Aliases CAN-3110

Partnerships Mass General Brigham/MGB (exclusive worldwide license)

Indications

recurrent high-grade glioma / glioblastoma (Phase 1)

Status note Ongoing investigator-sponsored Phase 1b in recurrent HGG; FDA IND cleared January 2026 supporting potential future randomized Phase 2 dose-regimen study; no discontinuation disclosed.

Alpha-201 Macro1

Preclinical · Active Modality: investigational viral immunotherapy

Target CD47/SIRPa pathway

Indications

solid tumors (Preclinical)

Status note First experimental agent from enLIGHTEN Discovery Platform; preclinical monotherapy activity; no discontinuation disclosed.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Aglatimagene besadenovec
Lead indication	Prostate Cancer
Lead phase	Phase 3
Active trials	5
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07660094	Phase 3	Recruiting	Sponsor	CADL	—	Non-squamous, Non-Small Cell Lung Cancer	—
NCT01436968	Phase 3	Active, not recruiting	Sponsor	CADL	—	Prostate Cancer	—
NCT07332000	Phase 2	Recruiting	Sponsor	CADL	—	Prostate Cancer Patients Treated by Radiotherapy; Prostate Cancer (Adenocarcinoma)	—
NCT02768363	Phase 2	Active, not recruiting	Sponsor	CADL	—	Prostate Cancer	—
NCT04495153	Phase 2	Active, not recruiting	Sponsor	CADL	—	Non Small Cell Lung Cancer	—
NCT03152318	Phase 1	Active, not recruiting	Collaborator	Dana-Farber Cancer Institute	—	Malignant Glioma of Brain; Astrocytoma; Malignant Astrocytoma	—

Sponsor-matched active trials from ClinicalTrials.gov (5 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 6 active trials for Candel Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	6,422,018	no change	0.56%	2026-08-14
Stonepine Capital	0	-102,500	0.00%	2026-08-17

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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CADL — Candel Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

CADL — Candel Therapeutics Inc.