Candel Therapeutics Q2 net loss $22.2M; cash runway into Q1 2025; positive CAN-2409 pancreatic data

Candel Therapeutics, Inc.

2024-Q2 EPS reported -$1.03

Net loss of $22.2M in Q2 2024 vs $9.6M in Q2 2023; includes $13.7M non-cash warrant liability adjustment.
Cash and cash equivalents $21.5M at June 30, 2024; expects funding operations into Q1 2025.
CAN-2409 in pancreatic cancer: median OS 28.8 months vs 12.5 months control; 24-month survival 71.4% vs 16.7%.
CAN-2409 in NSCLC: median OS 20.6 months in ICI-resistant patients; data presented at ASCO.
Orphan drug designation from FDA for CAN-2409 (pancreatic) and CAN-3110 (rHGG); phase 3 prostate data expected Q4 2024.

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