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Candel Therapeutics
Candel Therapeutics (CADL) investor relations material
Candel Therapeutics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary12 Mar, 2026
Executive summary
Advanced clinical pipeline with pivotal phase 3 trials planned for aglatimagene in NSCLC and BLA submission for prostate cancer in 2026.
IND clearance for linoserpaturev in rHGG and encouraging survival data from phase 1b trial.
Strengthened financial position through $130M term loan, $100M equity offering, and $100M royalty funding agreement.
Financial highlights
Research and development expenses rose to $11.0M in Q4 2025 (from $4.8M in Q4 2024) and $30.5M for FY 2025 (from $19.3M in FY 2024).
General and administrative expenses increased to $4.7M in Q4 2025 (from $3.3M in Q4 2024) and $17.8M for FY 2025 (from $14.1M in FY 2024).
Net loss for Q4 2025 was $29.5M (vs. $14.1M in Q4 2024); FY 2025 net loss was $38.2M (vs. $55.2M in FY 2024).
Cash and cash equivalents were $119.7M as of Dec 31, 2025, up from $102.7M at year-end 2024.
Outlook and guidance
Cash runway expected to fund operations into Q1 2028, including commercial launch preparations for aglatimagene.
Key data readouts for aglatimagene in NSCLC and prostate cancer, and linoserpaturev in rHGG, expected throughout 2026.
BLA submission for aglatimagene in prostate cancer planned for Q4 2026.
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Candel Therapeutics
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Frequently asked questions
Candel Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing viral immunotherapies for cancer treatment. The company’s approach involves using genetically modified viruses to induce immunogenic cell death in cancer cells, which unmask tumor antigens within an activated microenvironment. This process triggers a systemic and durable immune response against tumors, acting as an in situ vaccination. Candel’s therapies are designed to potentially improve survival rates and maintain the quality of life for patients across various stages of cancer. The company is headquartered in Needham, Massachusetts, and its shares are listed on NASDAQ.
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