JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
According to the filing, the sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units, as per the company's mandatory sell-to-cover policy. This policy mandates sales sufficient to cover tax liabilities associated with vesting events. Following the transaction, Schoch retains ownership of 52,549 shares in the company. Based on InvestingPro analysis, CADL appears slightly undervalued at current levels, with 8 additional exclusive insights available to subscribers. Based on InvestingPro analysis, CADL appears slightly undervalued at current levels, with 8 additional exclusive insights available to subscribers.
According to the filing, the sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units, as per the company's mandatory sell-to-cover policy. This policy mandates sales sufficient to cover tax liabilities associated with vesting events. Following the transaction, Schoch retains ownership of 52,549 shares in the company.
In other recent news, Candel Therapeutics has seen considerable progress in its clinical trials and financial endeavors. The firm's CAN-2409 therapy has demonstrated promising results in a Phase 3 clinical trial for the treatment of localized prostate cancer, leading to an upgrade of the company's stock by H.C. Wainwright. The trial, involving 745 participants, displayed a statistically significant improvement in disease-free survival for patients using CAN-2409 in conjunction with standard care therapies.
The successful trial has raised the estimated likelihood of CAN-2409 receiving regulatory approval to 85%, according to an analyst from H.C. Wainwright. This optimism stems from anticipated favorable discussions between Candel Therapeutics and the FDA regarding the recent trial results.
Candel Therapeutics has also recently announced the pricing of an $80 million public offering, consisting of 10 million shares of common stock and pre-funded warrants for over 3.3 million shares. Citigroup (NYSE:C), BofA Securities, and Canaccord Genuity are serving as joint bookrunning managers for this venture, with H.C. Wainwright & Co. acting as the lead manager.
The company's recent developments also include insights from a Phase 2 clinical trial of CAN-2409 as a monotherapy in patients with low-to-intermediate risk localized prostate cancer. These advancements highlight the company's ongoing efforts in the biopharmaceutical sector.
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