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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Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Candel Therapeutics, Inc. entered into Purchase Agreement with funds managed by RTW Investments, LP valued at $100 million (effective 2026-02-19).

Action: entry
Agreement: asset purchase
Counterparty: funds managed by RTW Investments, LP
Value: $100 million
Effective: 2026-02-19

Exact text from the filing

On February 19, 2026, Candel Therapeutics, Inc. (the “Company”) announced its entry into a purchase and sale agreement (the “Purchase Agreement”) with funds managed by RTW Investments, LP (the “Purchaser”). Under the terms of the Purchase Agreement, the Purchaser has agreed to pay the Company $100 million

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Candel Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-059334

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