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Candel Therapeutics Raises $100M via Public Share Offering

GlobeNewswire Inc.GlobeNewswire Inc.
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Key Takeaway

Candel Therapeutics raises $100M via public share offering to fund commercialization of its prostate cancer gene therapy and ongoing lung cancer clinical trials.

Candel Therapeutics Raises $100M via Public Share Offering
$CADLpositive

Candel Therapeutics priced a public offering of 18.3 million shares at $5.45 per share, generating $100 million in gross proceeds. The offering is expected to close on February 23, 2026.

The biopharmaceutical company intends to allocate the capital toward launch readiness and commercialization efforts for aglatimagene besadenovec, its gene therapy candidate for localized prostate cancer. The funds will also support ongoing phase 3 clinical trials for the same treatment in non-small cell lung cancer indications.

Additionally, Candel plans to direct a portion of the proceeds toward general corporate purposes. The offering expands the company's financial resources as it advances its clinical pipeline and prepares commercial infrastructure for its lead candidate.

Topics

FDA approvalclinical trialpublic offeringbiopharmaceuticalprostate cancerimmunotherapyaglatimagene besadenovec

Source: GlobeNewswire Inc.

Back to newsPublished Feb 20

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