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Candel Therapeutics

CADL Lead: Phase 3 1 Biotech Distilled article ↓ 18 filings & releases ↓ Cash $202M (Jun 30, 2026) ↓ 1 verdict ↓ 1 timing quote ↓
Oncology Gene Therapy

Market cap $670M 76.5M shares (10-Q, Aug 6, 2026) × $8.75 close Nov 6, 2026

Most recent annual filing: 2026-03-12

Catalyst timeline

11 trackedQuarter catalyst calendar →
  1. aglatimagene besadenovec BLA filing4Q 2026aglatimagene besadenovec BLA filing, 4Q 2026, major
  2. linoserpaturev interim4Q 2026linoserpaturev interim, 4Q 2026, notable
  3. aglatimagene besadenovec corporate updateNov 2026aglatimagene besadenovec corporate update, Nov 2026, routine
  4. CADL corporate filingDec 2026CADL corporate filing, Dec 2026, notable
  5. aglatimagene besadenovec FDA decision~Feb 2027aglatimagene besadenovec FDA decision, ~Feb 2027, thesis-defining
  6. aglatimagene besadenovec financingMar 31, 2027aglatimagene besadenovec financing, Mar 31, 2027, routine
  7. aglatimagene besadenovec PDUFA date~Aug–Dec 2027aglatimagene besadenovec PDUFA date, ~Aug–Dec 2027, thesis-defining
  8. CADL corporate updateSep 2027CADL corporate update, Sep 2027, routine
  9. CADL corporate updateOct 1, 2027CADL corporate update, Oct 1, 2027, routine
  10. aglatimagene besadenovec financingDec 31, 2027aglatimagene besadenovec financing, Dec 31, 2027, routine
  11. CADL corporate update1Q 2028CADL corporate update, 1Q 2028, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (4 active programs)

Technology platforms

enLIGHTEN Discovery Platform

Systematic, iterative HSV-based viral immunotherapy discovery platform leveraging human biology, computational biology, and advanced analytics to create new viral immunotherapy candidates for solid tumors. Generates both replication-defective and replication-competent agents. Multiple preclinical candidates include Alpha-201 Macro1 (CD47/SIRPα), a TLS-inducing multimodal immunotherapy, and an IL-12/IL-15 encoding candidate.

Targets: IL-12, IL-15, CD47, SIRPα

enLIGHTEN Discovery Platform · University of Pennsylvania

Systematic, iterative herpes simplex virus-based platform leveraging human biology and advanced analytics; focus area: novel viral immunotherapies for cancer

enLIGHTEN

Systematic, iterative HSV-based discovery platform leveraging human biology and advanced analytics to create multimodal biological immunotherapies for solid tumors; deconvolutes tumor microenvironment characteristics and translates them into optimized multi-gene payloads for specific indications.

Adenovirus viral immunotherapy platform

Off-the-shelf engineered adenovirus platform for intratumoral administration designed to induce immunogenic cell death and systemic anti-tumor immune response; focus area: solid tumors / oncology

HSV viral immunotherapy platform · MGB

Off-the-shelf engineered herpes simplex virus (HSV) platform for intratumoral administration; includes rQNestin (oncolytic HSV) licensed from MGB; focus area: solid tumors / oncology

rQNestin · MGB

Genetically modified oncolytic herpes simplex virus platform licensed from MGB; being developed for treatment of certain types of cancers

enLIGHTEN Discovery

Discovery platform generating novel oncolytic and immunotherapy candidates targeting solid tumors; specific candidates not yet named.

Discontinued (1)

Capital (as filed)

Cash
$202M cash and cash equivalents · Jun 30, 2026 (10-Q)
Operating cash flow
−$17.2M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$202M cash, runway into Q1 2028 per the deep dive of Oct 9, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (1)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (1 call)

Every verdict Biotech Distilled has published on Candel Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-10-12 Watch Candel Therapeutics (CADL) - Scientific Deep Dive for Aglatimagene Besadenovec (CAN-2409) and Pipeline Products PrTK03 met its SPA primary endpoint but most of the DFS benefit appears at the protocol biopsy window, clinical endpoints (metastasis, salvage, OS) remain undecided, and the balance sheet reaches the FDA decision with nothing to spare.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (18)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Oct 22, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

5 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)