Candel Therapeutics Q3 net loss $10.6M, cash $16.6M; key prostate cancer data on track for Q4 2024

Candel Therapeutics, Inc.

2024-Q3 EPS reported -$1.35

Net loss of $10.6M in Q3 2024 vs $8.4M in Q3 2023; includes $1.9M other expense from warrant liability.
Cash and cash equivalents $16.6M as of Sept 30, 2024, down from $35.4M at Dec 31, 2023; expects funding to end of Q1 2025.
On track for phase 2b and phase 3 topline data for CAN-2409 in prostate cancer in Q4 2024.
CAN-3110 received FDA orphan drug designation for recurrent high-grade glioma; preclinical melanoma data presented.
R&D expenses $5.4M (down $0.4M YoY); G&A expenses $3.3M (up $0.3M YoY).

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