Candel reports Q4 2025 net loss of $29.5M; cash $119.7M; plans BLA for aglatimagene in Q4 2026

Candel Therapeutics, Inc.

Net loss Q4 2025: $29.5M vs $14.1M Q4 2024; full year net loss $38.2M vs $55.2M (2024).
Cash $119.7M at Dec 31, 2025; plus $93.5M net from Feb 2026 offering; runway into Q1 2028.
Entered $130M term loan with Trinity Capital; $50M drawn; $100M royalty deal with RTW contingent on FDA approval.
Plan to initiate pivotal phase 3 trial of aglatimagene in NSCLC in Q2 2026; BLA submission for prostate cancer in Q4 2026.
FDA cleared IND for linoserpaturev in recurrent high-grade glioma; mature OS data expected Q4 2026.

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