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Candel Therapeutics Priced, Nasdaq: CADL

Phase 3 biotech developing oncolytic viral immunotherapies for cancer.

Industry: Health Care

Latest Trade: $10.36 0.00 (0.0%)

First Day Return: -12.5%

Return from IPO: +29.5%

Industry: Health Care

We are a late clinical stage biopharmaceutical company focused on helping patients fight cancer with oncolytic viral immunotherapies. Our engineered viruses are designed to induce immunogenic death through direct viral-mediated cytotoxicity in cancer cells, thus releasing tumor neo-antigens and creating a pro-inflammatory microenvironment at the site of injection. Our most advanced product candidate, CAN-2409, is an off-the-shelf adenovirus product candidate combined with the prodrug valacyclovir that has generated promising clinical activity across a range of solid tumor indications, including our lead indication of prostate cancer. We are currently conducting, as part of our most advanced CAN-2409 program, a Phase 3 clinical trial in the United States under a Special Protocol Assessment, or SPA, with the FDA for CAN-2409 in combination with the prodrug valacyclovir in patients with newly diagnosed localized prostate cancer who have an intermediate or high-risk for progression. We expect to complete enrollment for this trial in the third quarter of 2021 with a final data readout in 2024. We are also evaluating CAN-2409 in newly diagnosed high-grade glioma. The FDA has granted CAN-2409 Fast Track designation for use in this setting in combination with standard of care surgery and chemoradiation. We intend to initiate a potential registrational Phase 3 trial in this indication in the first half of 2022.
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IPO News for Candel Therapeutics
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IPO Data
IPO File Date 06/25/2021
Offer Price $8.00
Price Range $8.00 - $8.00
Offer Shares (mm) 9.0
Deal Size ($mm) $72
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 07/26/2021
Offer Price $8.00
Price Range $8.00 - $8.00
Offer Shares (mm) 9.0
Deal Size ($mm) $72
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Needham, MA
Founded 2003
Employees 50
Website www.candeltx.com