Overview

* Candel Therapeutics ( CADL ) reports Q3 net loss of $11.3 mln, increased from last year

* Company secures $130 mln loan facility with Trinity Capital to fund operations

* Company advances CAN-2409 and CAN-3110 programs, planning pivotal trials in 2026

Outlook

* Company plans phase 3 trial of CAN-2409 in NSCLC in Q2 2026

* Company expects prostate cancer DFS data in Q2 2026

* Company plans BLA submission for CAN-2409 in Q4 2026

Result Drivers

* FINANCIAL STRATEGY - Co secures $130 mln loan facility to fund operations and upcoming pivotal trials

* INCREASED EXPENSES - R&D expenses rose due to manufacturing and regulatory costs for CAN-2409, G&A expenses increased due to commercial readiness

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net -$11.27

Income mln

Q3 Miss -$13.21 -$11.80

Income mln mln (5

From Analysts

Operatio )

ns

Q3 Basic -$0.21

EPS

Q3 $13.21

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Candel Therapeutics Inc ( CADL ) is $19.50, about 74.8% above its November 12 closing price of $4.92

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)