---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-037624"
form_type: "8-K"
ticker: "CADL"
cik: "0001841387"
company_name: "Candel Therapeutics, Inc."
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T06:32:42.331494+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-037624
- form_type: 8-K
- ticker: CADL
- cik: 0001841387
- company_name: Candel Therapeutics, Inc.
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841387/000095017024037624/0000950170-24-037624-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841387/000095017024037624/cadl-20240328.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-037624
- JSON: https://secwatch.observer/filing/0000950170-24-037624.json
- Plain text: https://secwatch.observer/filing/0000950170-24-037624.txt

## Key facts
- Earnings Releases
  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
  source text: Candel Therapeutics, Inc. announced its financial results for the quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841387/000095017024037624/0000950170-24-037624-index.htm

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