Monitor the AUA 2026 plenary presentation (May 15-18) for extended follow-up data from the phase 3 prostate cancer trial, which could be a catalyst. The BLA submission in Q4 2026 is the key binary event. The extended NSCLC survival data supports the phase 3 rationale but is not yet a regulatory milestone.
Price Chart
Executive Summary
Candel Therapeutics reported Q1 2026 results: net loss of $8.9M vs net income of $7.4M in Q1 2025, driven by higher R&D and G&A expenses and a lower non-cash gain from warrant liability revaluation. The company highlighted progress toward a Q4 2026 BLA submission for aglatimagene in prostate cancer, extended survival data in NSCLC, and a commercial partnership with EVERSANA. Cash position strengthened to $194.8M, funding operations into Q1 2028.
Key Financial Metrics
Key Facts
- Net loss of $8.9M for Q1 2026 vs net income of $7.4M in Q1 2025
- Cash and cash equivalents of $194.8M as of March 31, 2026, up from $119.7M at Dec 31, 2025
- BLA submission for aglatimagene in localized prostate cancer planned for Q4 2026
- Extended survival tail in NSCLC phase 2a: 50% of per-protocol patients survived beyond 24 months
- Commercial partnership with EVERSANA announced for potential U.S. launch of aglatimagene
- Pivotal phase 3 NSCLC trial planned to initiate in June 2026
- EPS of -$0.14 for Q1 2026 vs $0.15 in Q1 2025; no consensus estimate available for comparison
Financial Impact
Net loss of $8.9M in Q1 2026 vs net income of $7.4M in Q1 2025; cash increased by $75.1M from Dec 2025 to $194.8M
Risk Factors
- BLA submission and potential FDA approval for aglatimagene remain uncertain
- Clinical-stage company with no approved products or revenue
- Net loss widened YoY due to increased R&D and G&A spending
- Dilution risk from February 2026 follow-on offering (18.3M shares at $5.45)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-222892 |
| Document: cadl-20260514.htm | 0001193125-26-222892 |
| Document: 0001193125-26-222892-index-headers.html | 0001193125-26-222892 |
| Document: 0001193125-26-222892-index.html | 0001193125-26-222892 |
| Document: 0001193125-26-222892.txt | 0001193125-26-222892 |
| 8-K Data (Synthetic) | 0001193125-26-222892 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 26d ago | Press Release | $10.16 | awaiting T+60 | — | $8.05 (−20.77%) |
Sep 30, 2026 27d ago | Press Release | $10.44 | awaiting T+60 | — | $8.05 (−22.89%) |
Sep 10, 2026 6w ago | 8-K | $11.33 | awaiting T+60 | — | $8.05 (−28.95%) |
Sep 9, 2026 6w ago | 8-K | $11.33 | awaiting T+60 | — | $8.05 (−28.95%) |
Aug 15, 2026 10w ago | Institutional Cluster | $12.16 | awaiting T+60 | — | $8.05 (−33.80%) |
Aug 13, 2026 10w ago | 8-K | $11.80 | awaiting T+60 | — | $8.05 (−31.78%) |
Aug 13, 2026 10w ago | Press Release | $11.80 | awaiting T+60 | — | $8.05 (−31.78%) |
Aug 3, 2026 12w ago | Press Release | $10.07 | awaiting T+60 | — | $8.05 (−20.06%) |
Jul 1, 2026 16w ago | Insider Cluster | $9.83 $11.19 | ▲ +13.84% | ▲ +11.04% | $8.05 (−18.11%) |
Jul 1, 2026 16w ago | Insider Cluster | $9.83 $11.19 | ▲ +13.84% | ▲ +11.04% | $8.05 (−18.11%) |
US Market Status
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