Candel prices $80M public offering of common stock and pre-funded warrants at $6.00/share

Candel Therapeutics, Inc.

Offering: 10,000,001 common shares at $6.00/share plus pre-funded warrants for 3,333,333 shares at $5.99/warrant.
Gross proceeds ~$80M; net proceeds ~$74.7M (or ~$86M if underwriters' 2M-share option is exercised).
Proceeds to fund development, including BLA submission for CAN-2409 in prostate cancer, and general corporate purposes.
Cash runway extended into Q1 2027; key data readouts expected in NSCLC/PDAC (Q1 2025) and recurrent glioblastoma (Q4 2025).
Offering expected to close Dec 16, 2024; joint bookrunners: Citigroup, BofA Securities, Canaccord Genuity.

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