By Colin Kellaher
Shares of Candel Therapeutics took flight in premarket trading Wednesday after the clinical-stage biopharmaceutical company said a late-stage study of its CAN-2409 product candidate met its key goal in prostate cancer.
Candel said the multicenter phase 3 study evaluating CAN-2409 viral immunotherapy achieved its primary endpoint, showing statistically significant and clinically meaningful benefit when combined with radiation therapy for intermediate- to high-risk, localized prostate cancer.
The Needham, Mass., company said it plans to initiate talks with the Food and Drug Administration on the regulatory pathway for CAN-2409 in intermediate- to high-risk localized prostate cancer.
Candel shares, which closed Tuesday at $4.61, were recently up 133% to $10.75 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 11, 2024 07:51 ET (12:51 GMT)
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