Core Insights - Candel Therapeutics is focused on developing two novel therapeutics, CAN-2409 and CAN-3110, for various cancer indications [1] - The company has seen a significant stock price increase of 430.6% year-to-date, driven by positive clinical updates for CAN-2409 [2] Product Development - CAN-2409 is an investigational adenovirus immunotherapy candidate being studied in mid to late-stage trials for prostate cancer, non-small cell lung cancer (NSCLC), and pancreatic cancer [1] - CAN-3110 is an HSV-1-based immunotherapy candidate currently in an early-stage study for recurrent high-grade glioma (HGG) [2] Clinical Trial Results - Positive interim data from a phase II study showed that CAN-2409 combined with valacyclovir and standard of care led to a median overall survival of 28.8 months in borderline resectable pancreatic ductal adenocarcinoma (PDAC) patients, compared to 12.5 months in the control group [4] - The survival rate for patients treated with CAN-2409 was 71.4% at 24 months and 47.6% at 36 months, significantly higher than the control group's rates of 16.7% [5] Regulatory Designations - The FDA granted orphan drug designation to CAN-2409 for PDAC, enhancing its market exclusivity potential [8] - CAN-2409 also received Fast Track designation from the FDA, which expedites its development timeline due to the unmet medical need [10] Future Expectations - Candel is evaluating CAN-2409 for newly diagnosed localized prostate cancer and expects to report top-line data from these studies in Q4 2024, which could serve as a significant catalyst for the stock [11]
Candel (CADL) Stock Skyrockets 431% Year to Date: Here's Why