Candel Q2 net loss $4.8M vs $22.2M loss a year ago; positive phase 3 CAN-2409 results in prostate cancer

Candel Therapeutics, Inc.

2025-Q2 EPS reported $0.05 vs consensus -$0.17 ▲ beat (+128.8%)

Net loss of $4.8M in Q2 2025 vs $22.2M loss in Q2 2024; net other income of $6.4M due to change in warrant liability fair value.
Phase 3 CAN-2409 in localized prostate cancer met primary endpoint with 30% improvement in DFS (HR 0.70, p=0.0155); RMAT designation received.
BLA submission for CAN-2409 in prostate cancer expected in Q4 2026; cash $100.7M sufficient into Q1 2027.
Appointed Charles Schoch as CFO and Maha Radhakrishnan to Board; completed $15M registered direct offering.
Positive overall survival data from phase 2a CAN-2409 in NSCLC (mOS 24.5 months) and pancreatic cancer (mOS 31.4 months).

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