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NEEDHAM, Mass. - Candel Therapeutics, Inc. (NASDAQ:CADL), currently trading at $5.24 with a market capitalization of $263 million, has been added to several Russell value indexes as part of the 2025 Russell US Indexes annual reconstitution, which took effect on June 30, 2025. According to InvestingPro analysis, the clinical-stage biopharmaceutical company, which appears slightly overvalued at current levels, was included in the Russell 2500 Value Index, Russell Small Cap Value Index, Russell 2000 Value Index, Russell Microcap Value Index, and Russell 3000E Value Index.
The company also maintained its position in the broad-market Russell 3000 Index, which it first joined in 2024.
Candel focuses on developing multimodal biological immunotherapies for cancer treatment. The company is currently preparing for a potential Biologics License Application submission for its CAN-2409 therapy in intermediate-to-high-risk localized prostate cancer.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data from June 2024, approximately $10.6 trillion in assets are benchmarked against Russell US indexes.
The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization.
Candel has established two clinical-stage multimodal biological immunotherapy platforms based on genetically modified adenovirus and herpes simplex virus gene constructs. The company recently completed phase 2a clinical trials of CAN-2409 in non-small cell lung cancer and pancreatic ductal adenocarcinoma, as well as a pivotal phase 3 clinical trial in localized prostate cancer.
This information is based on a company press release statement.
In other recent news, Candel Therapeutics has been granted Regenerative Medicine Advanced Therapy (RMAT) designation by the FDA for its lead immunotherapy candidate, CAN-2409, aimed at treating newly diagnosed localized prostate cancer in patients with intermediate-to-high-risk disease. This designation is designed to expedite the development and review process for therapies addressing serious conditions. The company recently announced a successful registered direct offering, raising approximately $15 million to support pre-commercialization activities for CAN-2409, pending regulatory approval. H.C. Wainwright initiated coverage on Candel Therapeutics with a Buy rating, citing the promising Phase 3 data of CAN-2409, which showed a 30% reduction in disease recurrence or death.
Additionally, Candel Therapeutics has appointed Charles Schoch as its permanent Chief Financial Officer, following his interim role since January 2024. The company also welcomed Maha Radhakrishnan, M.D., to its Board of Directors, bringing extensive experience in product development and commercialization. These strategic appointments come as Candel prepares for the submission of a Biologics License Application for CAN-2409, expected in the fourth quarter of 2026. The company’s innovative approach involves multimodal biological immunotherapies designed to elicit systemic anti-tumor immune responses. Candel’s platforms and discovery methods aim to improve survival and disease-free outcomes for patients with solid tumors.
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