TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
Tyagarajan Seshu, Chief Technology Officer of Candel Therapeutics , Inc. (NASDAQ:CADL), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Seshu sold 31,278 shares of common stock on March 17, 2025. The shares were sold at a weighted average price of $8.8224, with the transaction totaling approximately $275,947. The sale price reflects recent market momentum, with CADL shares showing a remarkable 488% return over the past year. InvestingPro data reveals analyst price targets ranging from $15 to $25, suggesting potential upside from current levels.
The sale was executed under a 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks to avoid concerns about insider trading. Following this transaction, Seshu retains ownership of 85,512 shares of Candel Therapeutics. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro subscribers can access detailed metrics and expert analysis.
In addition to the stock sale, Seshu exercised stock options for 20,000 shares at an exercise price of $1.29 per share. These options are subject to time-based vesting, with the shares becoming exercisable in monthly installments over a four-year period starting April 28, 2023.
Candel Therapeutics, based in Needham, Massachusetts, is a biotechnology company focused on developing innovative treatments for cancer. The company continues to advance its pipeline of biological products, with ongoing research and development efforts aimed at improving patient outcomes.
In other recent news, Candel Therapeutics has reported significant progress in its clinical trials, particularly with its lead asset, CAN-2409. The company announced positive results from its Phase 3 study for prostate cancer, demonstrating a statistically significant improvement in disease-free survival when CAN-2409 was combined with standard treatments. Additionally, in its Phase 2 trial for pancreatic ductal adenocarcinoma, Candel revealed that patients receiving CAN-2409 showed a marked increase in median overall survival compared to those on standard care alone. These promising outcomes have led Candel to plan a larger, late-stage trial for pancreatic cancer. Analyst firms have reacted positively to these developments, with H.C. Wainwright maintaining a Buy rating and Citi initiating coverage with a Buy rating and a $25 price target. The analysts from both firms express confidence in Candel’s therapeutic pipeline, noting the potential for further growth. The company is also preparing for a Biologics License Application for CAN-2409 by the fourth quarter of 2026. Furthermore, Candel is advancing its second program, CAN-3110, targeting recurrent high-grade glioma, with updates expected in the coming year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.