Candel Therapeutics Announces $15 million Registered Direct Offering of Common Stock

Core Viewpoint - Candel Therapeutics, Inc. has agreed to sell approximately 3.2 million shares of common stock at a price of $4.67 per share, aiming to raise about $15.0 million to support its cancer treatment initiatives and corporate purposes [1][3]. Group 1: Offering Details - The offering is expected to close on June 25, 2025, subject to customary closing conditions [1]. - The investors include existing healthcare-focused institutional investors, executive officers, and members of the Company's Board of Directors [2]. - The shares are being offered under a shelf registration statement previously filed with the SEC [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for pre-commercialization and launch readiness activities for CAN-2409 in prostate cancer, as well as for general corporate purposes [3]. - The Company is preparing for the submission of a Biologics License Application for CAN-2409, expected in the fourth quarter of 2026 [3]. Group 3: Company Overview - Candel Therapeutics is focused on developing multimodal biological immunotherapies to combat cancer, with two clinical-stage platforms based on genetically modified adenovirus and herpes simplex virus [6]. - CAN-2409 is the lead product candidate from the adenovirus platform, which has shown promising results in clinical trials for various cancers [7]. - The Company has received multiple designations from the FDA for CAN-2409, including Fast Track and Orphan Drug Designations [7].