Candel Therapeutics, Inc. ( CADL ) shares are trading higher Thursday after the company received FDA orphan drug designation for CAN-2409 for the treatment of pancreatic cancer.

The Details:

"We recently reported data from the phase 2 randomized clinical trial of CAN-2409 in borderline resectable pancreatic cancer, showing that CAN-2409, when added to standard of care, more than doubled the median overall survival obtained with standard of care alone,” said Paul Peter Tak, MD, PhD, CEO of Candel. 

“We are pleased that the FDA has now granted Candel with both Orphan Drug and Fast Track Designation to this program, as we seek to reshape the treatment paradigm in pancreatic cancer.”

Candel shares are moving on heavy trading volume following the company's announcement. According to data from Benzinga Pro, more than 20.7 million shares have been traded in the session, compared to the stock’s 100-day average of just over 4 million shares.

Related News: What’s Going On With Chinese EV Stocks Nio And XPeng?

Is CADL A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Candel Therapeutics ( CADL )‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Candel Therapeutics ( CADL ) does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Candel Therapeutics ( CADL ) will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

CADL Price Action: According to Benzinga Pro, Candel Therapeutics ( CADL ) shares are up 25.1% at $6.38 at the time of publication Thursday.

Image: Myriams-Fotos from Pixabay