---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-059334"
form_type: "8-K"
ticker: "CADL"
cik: "0001841387"
company_name: "Candel Therapeutics, Inc."
filed_at: "2026-02-19T23:59:59+00:00"
generated_at: "2026-05-16T01:48:46.053767+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-059334
- form_type: 8-K
- ticker: CADL
- cik: 0001841387
- company_name: Candel Therapeutics, Inc.
- filed_at: 2026-02-19T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.02, 8.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841387/000119312526059334/0001193125-26-059334-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841387/000119312526059334/cadl-20260219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-059334
- JSON: https://secwatch.observer/filing/0001193125-26-059334.json
- Plain text: https://secwatch.observer/filing/0001193125-26-059334.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841387/000119312526059334/0001193125-26-059334-index.htm

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