Candel Therapeutics, Inc. ( CADL ) shares are trading higher Thursday potentially driven by continued momentum following the company’s announcement of positive phase 3 trial results for its CAN-2409 viral immunotherapy in prostate cancer patients. Here’s what you need to know.

What To Know: The phase 3 trial focused on intermediate-to-high-risk, localized prostate cancer and showed that CAN-2409, combined with valacyclovir and standard care, significantly improved disease-free survival compared to standard care alone. The trial met its primary endpoint, demonstrating statistical significance in disease-free survival, with a hazard ratio of 0.7 and a p-value of 0.0155.

At 54 months, the CAN-2409 treatment arm showed a 14.5% relative improvement in disease-free survival compared to the control arm. The benefit was observed regardless of whether patients received short-term androgen deprivation therapy. Additional findings highlighted CAN-2409's significant effects on prostate-specific cancer outcomes, including higher rates of prostate-specific antigen nadir and pathological complete responses.

The study involved a median follow-up of 50.3 months and identified no new safety concerns. Adverse events were consistent with prior trials and were mostly mild or moderate flu-like symptoms.

The company also shared data from a phase 2 trial in low-to-intermediate risk localized prostate cancer patients undergoing active surveillance. Although this trial showed numerical improvements in outcomes like time to radical treatment and negative biopsies, the results were not statistically significant.

Candel’s stock surged over 100% following the announcement on Wednesday and today’s continued gains potentially reflect ongoing interest in the trial results and their potential implications for prostate cancer treatment.

CADL Price Action: Candel Therapeutics ( CADL ) shares were up 32.3% at $10.29 at the time of writing, according to Benzinga Pro.

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