Candel reports Q4 2023 net loss $11.1M; cash $35.4M; Phase 3 prostate data on track for Q4 2024

Candel Therapeutics, Inc.

Net loss Q4 2023 $11.1M vs $5.1M Q4 2022; full year net loss $37.9M vs $18.8M.
Cash and equivalents $35.4M at Dec 31, 2023 ($70.1M end 2022); expects runway into Q4 2024.
R&D expenses $7.3M Q4 2023 ($5.0M Q4 2022) and $24.5M full year ($20.8M 2022).
FDA Fast Track Designations: CAN-2409 for NSCLC and pancreatic cancer, CAN-3110 for recurrent HGG.
Anticipated milestones: Phase 2 NSCLC data Q2 2024; Phase 3 prostate topline data Q4 2024.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Candel Therapeutics, Inc. reported the fourth quarter and year ended December 31, 2023 results: net income Net loss for the fourth quarter of 2023 was $11.1 million.

Period: the fourth quarter and year ended December 31, 2023
Net income: Net loss for the fourth quarter of 2023 was $11.1 million
Result: reported results

Exact text from the filing

Candel Therapeutics, Inc. announced its financial results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0000950170-24-037624

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