Candel Therapeutics Reports Positive Brain Cancer Data, Secures $130M Loan
Dual catalyst of promising glioblastoma trial results and major financing strengthens the company's clinical and financial position.
Candel Therapeutics (NASDAQ: CADL) delivered a significant dual update for investors, announcing both positive interim data from its Phase 1b trial for a recurrent brain cancer treatment and the closing of a major financing deal.
The clinical-stage biotechnology company for its viral immunotherapy candidate, CAN-3110, in patients with recurrent glioblastoma, a notoriously difficult-to-treat cancer. The results showed a median overall survival of 12.0 months for patients receiving a single injection, with updated data showing that four of nine patients who received repeated administrations were still alive at the time of data cutoff. One patient achieved a complete pathological response, a significant milestone in such a challenging disease.
Adding to the scientific validation, the findings were also , lending significant credibility to the novel approach of using a herpes simplex virus (HSV) based therapy to stimulate an anti-tumor immune response.
In a concurrent announcement that bolsters its financial standing, Candel has with Trinity Capital Inc. The agreement provides an immediate infusion of $50 million, with an additional $80 million available in future tranches. This non-dilutive financing provides the company with a substantial capital runway to advance its clinical pipeline, particularly its lead asset CAN-2409 for prostate cancer, as it moves towards pre-commercial activities.
The news is likely to be welcomed by the market, as Candel's stock has historically responded strongly to positive developments. Earlier in 2025, CADL shares , and the company's shares saw gains of over 800% in a two-month period in 2024 amid progress in its clinical programs. This combination of promising clinical data in a high-need area and secured long-term financing positions Candel Therapeutics to execute on its upcoming clinical and regulatory milestones.