---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-069826"
form_type: "8-K"
ticker: "CADL"
cik: "0001841387"
company_name: "Candel Therapeutics, Inc."
filed_at: "2025-05-13T23:59:59+00:00"
generated_at: "2026-05-21T17:47:06.010486+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Candel Therapeutics Q1 net income $7.4M; cash runway into Q1 2027; CAN-2409 BLA on track

## Summary
- Net income of $7.4M in Q1 2025 vs net loss of $8.2M in Q1 2024, driven by warrant liability fair value change.
- Cash and equivalents $92.2M as of March 31, 2025; expected to fund operations into Q1 2027.
- CAN-2409 phase 3 prostate cancer meets primary endpoint; BLA submission expected Q4 2026.
- CAN-2409 in borderline resectable PDAC: mOS 31.4 months vs 12.5 months control in phase 2a.
- CAN-2409 in NSCLC (ICI-progressive): mOS 21.5 months vs 9.8–11.8 months standard of care.

## SEC filing metadata
- accession: 0000950170-25-069826
- form_type: 8-K
- ticker: CADL
- cik: 0001841387
- company_name: Candel Therapeutics, Inc.
- filed_at: 2025-05-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841387/000095017025069826/0000950170-25-069826-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841387/000095017025069826/cadl-20250513.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-069826
- JSON: https://secwatch.observer/filing/0000950170-25-069826.json
- Plain text: https://secwatch.observer/filing/0000950170-25-069826.txt

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