Summary of Candel Therapeutics (CADL) Conference Call - September 03, 2025 Company Overview - Candel Therapeutics focuses on developing viral immunotherapies for challenging solid tumors, with three main platforms: CAN-2409, CAN-3110, and the enLIGHTEN Discovery Platform [8][10][60]. Key Programs and Developments CAN-2409 - **Prostate Cancer**: - Late-stage development with positive data from a pivotal phase 3 clinical trial for newly diagnosed localized prostate cancer, achieving a 30% improvement in disease-free survival (DFS) and a 38% improvement in prostate cancer-specific DFS [8][19]. - The company aims for BLA submission in Q4 2026, with ongoing work in commercial manufacturing and FDA alignment [22][23]. - Current treatment options for patients include radical prostatectomy and radiotherapy, with a potential shift towards radiotherapy combined with CAN-2409 [20][21]. - **Pancreatic Cancer**: - Positive phase 2a data in borderline resectable pancreatic cancer, with plans for a phase 2B/phase 3 adaptive trial design [50][51][55]. - The company is working with experts to align on the best standard of care and trial design [51][52]. - **Non-Small Cell Lung Cancer**: - Plans for a pivotal phase 3 trial focusing on patients with metastatic disease who have shown inadequate response to pembrolizumab [39][40]. - A small phase 2 mechanistic study will run in parallel to assess the contribution of CAN-2409 in combination with pembrolizumab [42][48]. CAN-3110 - Targets recurrent glioblastoma with a unique replication-competent herpes simplex virus that selectively replicates in tumor cells [9][60]. - Encouraging data showing a doubling of expected median overall survival after a single injection, with ongoing studies to determine the benefits of multiple injections [60]. Financial Outlook - As of the end of Q2 2025, the company reported over $100 million in cash, funding operations into Q1 2027 and supporting BLA submission for prostate cancer [62]. - Plans to explore non-dilutive financing opportunities and potential partnerships to fund additional clinical trials [62][63]. Discovery Platform - The enLIGHTEN Discovery Platform has produced three preclinical assets, with potential for partnerships to advance these programs [64][66]. - The platform aims to create cost-effective assets that can be combined with existing therapies to enhance treatment efficacy [66]. Market Dynamics - The prostate cancer market is significant, with approximately 65,000 patients treated with radiotherapy annually [21]. - The company anticipates a shift in treatment preferences towards radiotherapy combined with CAN-2409 if approved, potentially increasing market share [20][21]. Strategic Partnerships - Candel Therapeutics is open to partnerships for its enLIGHTEN Discovery Platform and is in discussions with mid-size and large pharmaceutical companies regarding both CAN-2409 and CAN-3110 [63][66]. Conclusion - Candel Therapeutics is strategically positioned with promising clinical data across multiple solid tumor indications, a solid financial foundation, and a proactive approach to partnerships and market engagement. The upcoming BLA submission and ongoing trials are critical milestones for the company's growth and market presence.