Candel secures $100M royalty funding from RTW for CAN-2409 prostate cancer launch; prelim cash $119.7M

Candel Therapeutics, Inc.

Candel enters $100M royalty funding deal with RTW; funds available upon FDA approval of CAN-2409 for localized prostate cancer.
RTW receives 4.67% royalty on US net sales ≤$1B, 1.33% above $1B; cap at $250M; ratchet to 6.67% if sales miss targets.
Preliminary cash and equivalents ~$119.7M as of Dec 31, 2025 (unaudited).
BLA submission for CAN-2409 in localized prostate cancer remains on track for Q4 2026.

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