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Investing.com - Brookline Capital Markets initiated coverage on Candel Therapeutics Inc. (NASDAQ:CADL), currently trading at $6.09 with a market cap of $307M, with a Buy rating and a $25.00 price target. According to InvestingPro data, analysts maintain a Strong Buy consensus on the stock.
The research firm’s analysis focuses on Candel’s development of off-the-shelf viral immunotherapies designed to trigger individualized, systemic immune responses against cancer.
Brookline highlighted Candel’s lead candidate CAN-2409, an off-the-shelf adenovirus administered with the prodrug valacyclovir, which met its primary endpoint of disease-free survival (DFS) in a Phase 3 trial.
The successful Phase 3 trial was conducted under an FDA Special Protocol Assessment in newly-diagnosed localized prostate cancer patients with intermediate or high-risk profiles.
According to Brookline Capital, these positive results position Candel Therapeutics to file a Biologics License Application (BLA) in the fourth quarter of 2026.
In other recent news, Candel Therapeutics announced it has been added to multiple Russell value indexes as part of the 2025 Russell US Indexes annual reconstitution. The company has also initiated a registered direct offering, raising approximately $15 million from accredited investors to support pre-commercialization activities for its CAN-2409 treatment in prostate cancer. H.C. Wainwright has initiated coverage on Candel Therapeutics with a Buy rating, highlighting the promising phase 3 data of CAN-2409, which showed significant improvement in prostate-specific disease-free survival. Additionally, Candel has appointed Charles Schoch as its permanent Chief Financial Officer, following his interim role where he led a significant capital raise. The company has also strengthened its Board of Directors with the addition of Dr. Maha Radhakrishnan, who brings extensive experience in product development and commercialization. These developments come as Candel prepares for a Biologics License Application submission for CAN-2409, expected in the fourth quarter of 2026. CAN-2409 has received multiple FDA designations, including Fast Track and Regenerative Medicine Advanced Therapy status, enhancing its regulatory pathway.
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