---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-020869"
form_type: "8-K"
ticker: "CADL"
cik: "0001841387"
company_name: "Candel Therapeutics, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:49:46.357574+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Candel Therapeutics Q1 net loss $8.8M; cash runway into Q2 2024; fast track for CAN-2409 in NSCLC

## Summary
- Net loss of $8.8M in Q1 2023 vs $0.9M in Q1 2022; includes $0.8M other income from warrant liability change.
- Cash and equivalents $59.3M; expected to fund operations into Q2 2024.
- FDA granted fast track designation for CAN-2409 in stage III/IV NSCLC resistant to PD-(L)1 therapy.
- Paused enrollment in phase 2 pancreatic cancer trial pending additional funding; initial data still expected Q4 2023.
- Upcoming data: CAN-3110 at ASGCT (May 19) and CAN-2409 NSCLC trial-in-progress at ASCO (June 4).

## SEC filing metadata
- accession: 0000950170-23-020869
- form_type: 8-K
- ticker: CADL
- cik: 0001841387
- company_name: Candel Therapeutics, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841387/000095017023020869/0000950170-23-020869-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841387/000095017023020869/cadl-20230511.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-020869
- JSON: https://secwatch.observer/filing/0000950170-23-020869.json
- Plain text: https://secwatch.observer/filing/0000950170-23-020869.txt

## Key facts
- Earnings Releases
  Candel Therapeutics, Inc. reported the quarter ended March 31, 2023 results: net income Net loss for the first quarter of 2023 was $8.8 million.
  - Period: the quarter ended March 31, 2023
  - Net income: Net loss for the first quarter of 2023 was $8.8 million
  - Result: reported results
  source text: Net loss for the first quarter of 2023 was $8.8 million compared to a net loss of $0.9 million for the first quarter of 2022, and included net other income of $0.8 million and $8.1 million, respectively, primarily related to the change in the fair value of the Company’s warrant liability.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841387/000095017023020869/0000950170-23-020869-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.