Candel Therapeutics reports positive phase 3 CAN-2409 data in prostate cancer; cash runway into Q1 2027

Candel Therapeutics, Inc.

Positive phase 3 results for CAN-2409 in prostate cancer: 30% risk reduction, 80.4% pathological complete responses; BLA submission expected Q4 2026.
Phase 2a pancreatic cancer: median OS 31.4 months (CAN-2409) vs 12.5 months (control); long-term survivors.
Cash and cash equivalents $102.7M as of Dec 31, 2024; sufficient into Q1 2027.
Net loss for full year 2024: $55.2M; R&D expenses decreased to $19.3M from $24.5M.
Upcoming milestones: NSCLC final OS data Q1 2025; CAN-3110 data Q4 2025.

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