JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
NEEDHAM, Mass. - Candel Therapeutics, Inc. (NASDAQ:CADL), a biopharmaceutical company specializing in biological immunotherapies for cancer with a market capitalization of $420.4 million, has announced a strategic partnership with IDEA Pharma, a biopharmaceutical strategy consultancy. According to InvestingPro data, the company’s stock has delivered an impressive 493% return over the past year, reflecting growing investor confidence in its pipeline. This collaboration aims to bolster the commercial strategy for Candel’s lead asset, CAN-2409, particularly following promising phase 3 results in treating prostate cancer.
Candel’s CAN-2409, a biological immunotherapy candidate, recently showcased a 30% reduction in disease recurrence and an 80.4% pathological complete response rate in prostate cancer patients, outperforming the placebo arm’s 63.6%. These findings mark a significant advancement for the treatment, which is designed to stimulate a systemic immune response against tumors. The market has responded positively to these developments, with InvestingPro analysis showing analyst price targets ranging from $15 to $25 per share, suggesting potential upside from current levels.
The partnership with IDEA arrives as Candel prepares for a Biologics License Application (BLA) submission for CAN-2409 in prostate cancer. IDEA will contribute strategic commercial insights throughout the development and launch phases, bringing a team with oncology commercialization expertise to the table.
In addition to prostate cancer, CAN-2409 is also being evaluated in a phase 2a clinical trial for non-small cell lung cancer (NSCLC). The therapy has been granted fast track designation by the FDA for several indications, including pancreatic ductal adenocarcinoma (PDAC) and stage III/IV NSCLC.
Candel’s approach to cancer treatment involves creating an individualized immune response through genetically modified viruses, with CAN-2409 utilizing an adenovirus to deliver a gene that targets tumor cells. The company’s broader pipeline includes CAN-3110, currently in a phase 1b trial for high-grade glioma, and the enLIGHTEN™ Discovery Platform for developing new viral immunotherapies.
The strategic partnership with IDEA is slated to continue through 2026, potentially aiding Candel in navigating the commercial landscape for its cancer therapies. This collaboration underscores the importance of strategic planning in bringing innovative treatments to market, especially in the complex field of oncology. While the company is not yet profitable, InvestingPro data shows it maintains a healthy financial position with a current ratio of 2.77 and more cash than debt on its balance sheet. InvestingPro subscribers can access 8 additional key insights about CADL’s financial health and market performance.
The information in this article is based on a press release statement.
In other recent news, Candel Therapeutics has reported significant progress in its clinical trials, particularly with its lead asset, CAN-2409. The company announced promising results from its Phase 3 study for prostate cancer, showing a statistically significant improvement in disease-free survival, and from its Phase 2 trial for pancreatic ductal adenocarcinoma, where patients exhibited a notable increase in median overall survival. These findings have prompted H.C. Wainwright to maintain a Buy rating on Candel Therapeutics, with a price target of $19.00, reflecting confidence in the company’s therapeutic pipeline. Additionally, Citi has initiated coverage on Candel Therapeutics with a Buy rating and a $25.00 price target, citing the potential of CAN-2409 to extend disease-free survival in prostate cancer significantly. The company plans to file a Biologics License Application for CAN-2409 by the fourth quarter of 2026. Candel is also preparing for a larger, late-stage trial for CAN-2409 in pancreatic cancer, following the favorable safety and efficacy results. Furthermore, the company’s second program, CAN-3110, is in a Phase 1b trial for recurrent high-grade glioma, with potential updates expected in the fourth quarter of 2025. These developments underscore Candel Therapeutics’ commitment to advancing its innovative cancer treatments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.