# Candel Therapeutics Inc. (CADL)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $239M  
**Price:** $8.28 (-0.84%)

> Candel Therapeutics Inc. is a clinical-stage biopharmaceutical company developing viral immunotherapies designed to stimulate the immune system against solid tumors. Its lead candidate, CAN-2409, also known as aglatimagene besadenovec, is in Phase III clinical trials for prostate cancer, Phase II trials for pancreatic cancer and non-small cell lung cancer. CAN-3110 is advancing in Phase Ib trials for recurrent high-grade glioma. The company employs the enLIGHTEN Discovery Platform, a herpes simplex virus-based system using human biology and advanced analytics to generate new viral immunotherapy candidates targeting unique tumor antigens and neoantigens. These therapies aim to induce in situ immunization, activating innate and adaptive immune responses for systemic anti-cancer effects while preserving quality of life across disease stages. Candel Therapeutics Inc. focuses on oncology, particularly solid tumors, with investigational treatments intended for broad application in early- to late-stage cancers. Incorporated in 2003 and headquartered in Needham, Massachusetts, the company harnesses proprietary virus-based approaches to elicit potent, individualized immune responses.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2022 | $125,000 | — | -$35M | -$19M | — |
| 2021 | $125,000 | — | -$26M | -$36M | — |
| 2020 | $125,000 | — | -$14M | -$18M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2022 | $78M | $30M | $48M | $70M | — |
| 2021 | $89M | $25M | $64M | $83M | $560,000 |
| 2020 | $38M | $13M | -$24M | $35M | $483,000 |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$38M | $587,000 | -$39M |
| 2024 | -$27M | $16,000 | -$27M |
| 2023 | -$34M | $457,000 | -$35M |
| 2022 | -$31M | $1M | -$33M |
| 2021 | -$22M | $2M | -$24M |
| 2020 | -$9M | $1M | -$11M |

Source: [CompaniesByCap](https://companiesbycap.com/company/CADL)