|Over a week ago|
Candel Therapeutics announces key upcoming milestones » 08:2309/0809/08/21
Initial efficacy and…
Initial efficacy and safety data from a phase 1 clinical trial of CAN-2409 in combination with Opdivo in patients with high-grade glioma are expected to be presented in the fourth quarter of 2021. Blinded safety data from a phase 2 clinical trial of CAN-2409 in patients undergoing active surveillance for prostate cancer are expected to be presented in the third quarter of 2021. Biomarker results from a phase 1 clinical trial of CAN-3110 in patients with recurrent high-grade glioma are expected to be presented in the fourth quarter of 2021.
Candel Therapeutics expects cash to fund operations into 2Q23 » 08:2209/0809/08/21
Cash and cash equivalents…
Cash and cash equivalents as of June 30, 2021, were $24.3 million, as compared to $35.1 million as of December 31, 2020. In August 2021, Candel completed its initial public offering in which the Company issued 9,887,994 shares of common stock at a price of $8.00 per share, including the partial exercise of the underwriters' overallotment option, for net proceeds of $71.5 million after deducting underwriting discounts and commissions and offering expenses. Based on current plans and assumptions, the Company expects its existing cash and cash equivalents, including the net proceeds of the IPO, will be sufficient to fund its operations into the second quarter of 2023.
Candel Therapeutics reports Q2 EPS ($1.46), one est. (12c) » 08:2109/0809/08/21
"This has been a…
"This has been a transformational year for Candel Therapeutics as we continue to execute on our corporate strategy by advancing the development of our lead product candidate from our adenovirus platform, CAN-2409, and our lead product candidate from our HSV platform, CAN-3110, both in areas of significant unmet need," said Paul Peter Tak, M.D., Ph.D., FMedSci, President and Chief Executive Officer of Candel Therapeutics. "With the completion of our IPO in August and multiple data readouts across our broad pipeline over the next 12 months, we are in a strong position to advance our strategy and well-capitalized to support achievement of important milestones toward bringing novel immunotherapies to patients with cancer."
Candel Therapeutics completes enrollment in Phase 2 trial of CAN-2409 » 08:1109/0709/07/21
Candel Therapeutics announced that it has completed patient enrollment for its pivotal phase 3 study of CAN-2409 immunotherapy in patients with intermediate-high risk localized prostate cancer. This placebo-controlled, randomized clinical trial is evaluating CAN-2409 treatment in combination with valacyclovir added to upfront standard of care external beam radiation therapy for patients with localized prostate cancer compared to standard of care radiation therapy alone. The primary endpoint of the study is disease-free survival. Secondary endpoints include prostate cancer specific survival, overall survival, freedom from biochemical failure, patient reported health-related quality of life, and safety.
Candel Therapeutics initiated with a Buy at UBS » 09:0708/2308/23/21
UBS analyst Colin Bristow…
UBS analyst Colin Bristow initiated coverage of Candel Therapeutics with a Buy rating and $9 price target. The analyst states that the company's early data from the lead asset CAN-2409 has shown promise in prostate cancer and brain tumors, with registration-enabling trials near-fully enrolled for the former and expected to enroll in the first half of next year for the latter. Bristow adds that the data for CAN-2409 and CAN-3110 is challenging to interpret due to a variety of factors, but both assets have shown clear signs of activity, and he believes that the current trading range under-appreciates their risk-adjusted shots on goal.
Candel Therapeutics initiated with a Buy at Jefferies » 07:3208/2308/23/21
Jefferies analyst Chris…
Jefferies analyst Chris Howerton initiated coverage of Candel Therapeutics with a Buy rating and $22 price target. Howerton views Phase 3 prostate data for CAN-2409 in 2024, with multiple incremental Phase 1/2 readouts in 2022 and 2023 as key catalysts, and likes Candel given the pipeline opportunities in both prostate and brain cancers, as well as continued growth through the platform, the analyst tells investors in a research note.
Candel Therapeutics initiated with an Outperform at Credit Suisse » 06:3108/2308/23/21
Credit Suisse analyst…
Credit Suisse analyst Judah Frommer initiated coverage of Candel Therapeutics with an Outperform rating and $15 price target. Candel offers investors an immunotherapy platform with multiple ongoing late-stage clinical programs, Frommer tells investors in a research note. The analyst says the company's two oncolytic virus-based approaches allow for local tumor targeting to reduce the risk of systemic toxicities, are amenable to genetic engineering for enhanced specificity, and have the potential as an adjunct therapy to complement the existing standard of care.
|Over a month ago|
Candel Therapeutics announces closing of initial public offering » 08:1308/1708/17/21
Candel Therapeutics announced the closing of the issuance of an additional 887,994 shares of its common stock at a public offering price of $8.00 per share. The shares were issued pursuant to a partial exercise of the underwriters' option to purchase additional shares of common stock in connection with Candel's previously announced initial public offering of 9,000,000 shares of its common stock. The gross proceeds from the exercise of the option to purchase additional shares were approximately $7.1 million, bringing the aggregate gross proceeds to Candel from its initial public offering to approximately $79.1 million, before deducting underwriting discounts and commissions and other offering expenses.
Opening Day: Southern States, Eliem Therapeutics rise in market debut » 08:0708/1408/14/21
DATS, DRMA, SSBK, ELYM, CRBU, OB, SOPH, XPOF, CNM, CTBK, GAMB, USCB, RYAN, ABSI, BASE, ZENV, ZVIA, INST, CADL, PWSC, MLNK, SNPO, DUOL, QNIU, CMSL, SPRK, SCAN, AUTH, MS, GS, BCS, BAC, SPG, BLK
Eliem Therapeutics rose…
Opening Day: Robinhood shares fall after IPO » 08:5307/3107/31/21
MXCT, RXST, TNYA, RANI, OMGA, IMRX, INAB, DOLE, HOOD, NUVL, ICVX, RSKD, COOK, RLYB, DUOL, MLNK, PWSC, CADL, SNTG, RNAZ, AGRI, MITQ, IINN, UNCY, SPRK, QNIU, CMSL, SCAN, AUTH, MS, GS, BCS, BAC, BLK, SPG
Shares of Robinhood…