Candel Therapeutics prices $100M public offering of 18.3M shares at $5.45/share

Candel Therapeutics, Inc.

Gross proceeds $100M from 18,348,624 shares at $5.45; net ~$93.5M base, up to ~$107.6M if option exercised.
Funds will support launch readiness, medical affairs, pre-commercialization for CAN-2409 in early localized prostate cancer and phase 3 trial in NSCLC.
Underwriters granted 30-day option to purchase up to 2,752,293 additional shares at same price.
Offering expected to close Feb 23, 2026; Citigroup, Cantor, Stifel are joint bookrunners.
Pro forma cash runway extended into Q1 2028 based on base net proceeds.

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