Business
Candel Therapeutics Reports Second Quarter 2024 Financial Results and Recent Corporate Highlights
Announced positive survival data from the phase 2 randomized controlled clinical trial of CAN-2409 in borderline resectable pancreatic cancerPresented
About this update from Candel Therapeutics, Inc.
[{"type":"text","content":"Announced positive survival data from the phase 2 randomized controlled clinical trial of CAN-2409 in borderline resectable pancreatic cancerPresented positive topline overall survival data from the phase 2 clinical trial of CAN-2409 in non-small cell lung cancer (NSCLC) at 2024 American Society of Clinical Oncology (ASCO) Annual MeetingReceived orphan drug designation from the U.S. Food and Drug Administration (FDA) for both CAN-2409 and CAN-3110, for the treatment of pancreatic cancer and recurrent high-grade glioma (rHGG), respectivelyOn track for topline disease-free survival data from the phase 3 randomized controlled clinical trial of CAN-2409 in localized intermediate/high risk prostate cancer, expected in Q4 2024On track for topline progression-free survival data from the phase 2b randomized controlled clinical trial of CAN-2409 in the active surveillance population with localized low/intermediate risk prostate cancer, expected in Q4 2024The Company expects that its existing cash and cash equivalents will be sufficient to fund its current operating plan into Q1 2025 NEEDHAM, Mass., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Candel Therapeutics, Inc. (Candel or the Company) (Nasdaq: CADL), a clinical stage biopharmaceutical company focused on developing multimodal biological immunotherapies to help patients fight cancer, today reported financial results for the second quarter ended June 30, 2024, and provided a corporate update. “The second quarter of 2024 represented a pivotal period for Candel, characterized by robust clinical advancements and key regulatory successes, that further validate our innovative approach to cancer immunotherapy,” said Paul Peter Tak, MD, PhD, FMedSci, President and Chief Executive Officer of Candel. “Our encouraging overall survival phase 2 data for CAN-2409 highlights the potential of our lead candidate to address a significant unmet need for non-small cell lung cancer patients, who are non-responsive to immune checkpoint inhibitor treatment, and for patients with borderline resectable pancreatic cancer. In addition, the FDA granting orphan drug designation for CAN-3110 in recurrent high-grade glioma underscores the promise of this first-in-class, novel asset developed for difficult-to-treat cancers.” Dr. Tak continued, “Our inclusion in the Russell 3000 Index also marks a significant milestone in Can...