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NEEDHAM, Mass. - Candel Therapeutics, Inc. (NASDAQ:CADL), a clinical-stage biopharmaceutical company with a market capitalization of $278 million, announced the appointment of Maha Radhakrishnan, M.D., to its Board of Directors effective June 4, 2025. The company’s stock has shown resilience with a nearly 8% gain over the past six months, according to InvestingPro data. Dr. Radhakrishnan’s extensive experience in product development and commercialization is expected to bolster Candel’s strategic initiatives as it prepares for the submission of a Biologics License Application (BLA) for its lead product candidate, CAN-2409, targeting intermediate-to-high-risk prostate cancer.
Dr. Radhakrishnan, who has over two decades of industry experience, currently serves as an Executive Partner at Sofinnova Investments. Her previous roles include Group Senior Vice President and Chief Medical Officer at Biogen Inc., and leadership positions at Sanofi S.A., Bristol-Myers Squibb Company, and other notable healthcare organizations. InvestingPro analysis shows Candel maintains a strong financial position with more cash than debt and a healthy current ratio of 4.64, indicating robust short-term liquidity.
Candel’s President and CEO, Paul Peter Tak, M.D., Ph.D., expressed confidence in Dr. Radhakrishnan’s capabilities, stating that her expertise will be "extremely valuable" as the company advances its oncology programs. The appointment comes at a critical juncture for Candel, which recently completed successful phase 2a clinical trials for CAN-2409 in non-small cell lung cancer (NSCLC) and pancreatic ductal adenocarcinoma (PDAC), and a pivotal phase 3 trial in localized prostate cancer.
CAN-2409 has received Fast Track Designation by the FDA for the treatment of PDAC and certain stages of NSCLC, as well as Regenerative Medicine Advanced Therapy (RMAT) and Orphan Drug Designations for the treatment of newly diagnosed localized prostate cancer and PDAC, respectively.
The company’s innovative approach involves off-the-shelf multimodal biological immunotherapies designed to elicit systemic anti-tumor immune responses. Candel also has an ongoing phase 1b clinical trial for CAN-3110, its lead product from the herpes simplex virus (HSV) platform, in recurrent high-grade glioma (rHGG).
Chairman of Candel’s Board, Paul B. Manning, highlighted Dr. Radhakrishnan’s impending contributions to the company’s BLA submission, anticipated in Q4 2026. This news is based on a press release statement from Candel Therapeutics. Analysts maintain a strong buy consensus on the stock, with price targets ranging from $15 to $25 per share. For deeper insights into Candel’s financial health metrics and additional ProTips, investors can access comprehensive analysis through InvestingPro’s premium features.
In other recent news, Candel Therapeutics has made significant strides with its lead candidate, CAN-2409, in treating localized prostate cancer. The U.S. Food and Drug Administration granted CAN-2409 Regenerative Medicine Advanced Therapy designation, recognizing its potential to address unmet medical needs. This follows successful phase 3 trial results, where CAN-2409, in combination with standard treatments, demonstrated a 30% reduction in the risk of cancer recurrence or death. The trial also reported a higher rate of pathological clinical response, suggesting effective cancer elimination. Candel plans to present these findings at the upcoming American Society of Clinical Oncology Annual Meeting. Meanwhile, H.C. Wainwright has maintained its Buy rating on Candel Therapeutics, citing the promising results of CAN-2409 across various solid tumors. The firm highlighted the therapy’s robust activation of an immune response, which has shown clinically meaningful improvements in disease-free survival. Additionally, recent phase 1b trial results for high-grade glioma indicated potential survival benefits, further supporting CAN-2409’s therapeutic promise.
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