Overview

• US cancer immunotherapy developer's Q4 operating loss missed analyst expectations

• Q4 net loss widened to $29.5 mln from $14.1 mln a year earlier

• Company bolstered cash position with $130 mln loan and $100 mln equity offering

Outlook

• Company plans to initiate pivotal phase 3 trial of aglatimagene in NSCLC in Q2 2026

• Candel expects to submit BLA for aglatimagene in prostate cancer in Q4 2026

• Company says cash position is sufficient to fund operations into Q1 2028

Result Drivers

• R&D EXPENSES - Higher research and development costs driven by increased manufacturing, clinical trial and regulatory activities, and employee-related expenses

• COMMERCIAL READINESS SPEND - General and administrative expenses rose due to commercial readiness costs, employee-related expenses, and higher professional and consulting fees

Company press release: ID:nGNX3t8psT

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Candel Therapeutics Inc is $16.00, about 213.7% above its March 11 closing price of $5.10

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)