Earnings Releases·Nov 12, 2026, 4:05 PM ET

Candel Therapeutics — Third Quarter 2026 Earnings Summary

Q3 2026 net loss widened to $21.9 million ($0.28/share) from $11.3 million ($0.21/share) in Q3 2025, driven by a 83.5% increase in R&D expenses to $15.6 million and a 57.4% rise in G&A expenses to $7.4 million; cash and cash equivalents rose to $203.1 million as of September 30, 2026.
The company expects its current cash runway to fund operations through Q2 2028, with a planned BLA submission for aglatimagene in prostate cancer in mid-2027, pending FDA dialogue on assay refinement timelines.
Clinical progress includes Phase 3 prostate cancer data showing an 80% negative biopsy rate at two years for aglatimagene versus 63% for controls, and a 41% reduction in recurrence/death risk; the global Phase 3 AURORA trial for NSCLC has initiated enrollment.
Strategic updates include the appointment of Martine Zimmermann to the Board and Maria Ostrovsky as General Counsel, alongside the establishment of commercial-stage capabilities in preparation for the BLA and potential product launch.