Candel Therapeutics, Inc. · NASDAQ:CADL
Candel Therapeutics — Investor Presentation (September 2026)
73 slides from Candel Therapeutics's investor presentation, September 2026
Slide 1: Tipping the balance in favor of the immune system to fight cancer
Tipping the balance in favor of the immune system to fight cancer NASDAQ: CADL Corporate Presentation | September 2026 © 2026 by Candel Therapeutics
Slide 2: Forward Looking Statements
Forward Looking Statements This Presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this Presentation, including express or implied statements regarding our
Slide 3: Candel at a glance
Candel at a glance Aglatimagene besadenovec (CAN-2409): Off-the-shelf pan-solid tumor therapy, individualized anticancer immune response • Positive phase 3 randomized placebo-controlled clinical trial in localized, intermediate- to high-risk prostate cancer, published in Lancet Oncology • Positive o
Slide 4: Aglatimagene besadenovec + prodrug: Overview of mechanism of action
Aglatimagene besadenovec + prodrug: Overview of mechanism of action 01 02 03 04 05 Intratumoral gene Prodrug Radiotherapy Anti-tumor Local and systemic delivery activation synergy immune priming disease control Aglatimagene is a HSV-TK converts prodrug Radiation synergizes with Tumor cell death rele
Slide 5: Aglatimagene: Replication-defective adenoviral gene construct for in situ immunization
Aglatimagene: Replication-defective adenoviral gene construct engineered for in situ immunization against pan-solid tumors • > 1,000 patients dosed • Fast Track Designation in prostate cancer, non-small cell lung cancer (NSCLC), and pancreatic ductal adenocarcinoma (PDAC) Day 0 Tumor Dimensions: • R
Slide 6: Linoserpaturev: Mechanism of action
Linoserpaturev : Mechanism of action Nestin Nestin expression in tumor cells Promoter induces ICP34.5 expression, resulting in tumor-specific ICP34.5 replication linoserpaturev Virus expands in Nestin expressing tumor cells, causing oncolytic activity Linoserpaturev is an investigational product and
Slide 7: Linoserpaturev: Replication-competent HSV-1 engineered for selective killing of cancer cells
Linoserpaturev: Replication-competent HSV-1 engineered to enhance selective killing of cancer cells while sparing healthy neighboring cells • Proof of concept in patients with recurrent-high Monotherapy activity of linoserpaturev in recurrent high-grade grade glioma (mostly glioblastoma) glioma: Cli
Slide 8: Pipeline focused on value creation
Pipeline focused on value creation PROGRAM INDICATION PRECLINICAL PHASE 1 PHASE 2 PHASE 3 BLA Readiness Adenovirus Platform Borderline resectable Aglatimagene PDAC, Fast Track Pancreatic Cancer Designation, Orphan Drug Designation NSCLC in combination Aglatimagene with PD-1 inhibitor Lung Cancer Fas
Slide 9: Key achievements and anticipated future milestones in clinical programs
Key achievements and anticipated future milestones in clinical programs 2026 BLA filing Updated New OS data, biomarker data, recurrent HGG prostate cancer Phase 1b (Arm C), Phase 3, Phase 2 linoserpaturev (biomarker/ Initiation phase 3 biodistribution), clinical trial, aglatimagene Updated NSCLC bes
Slide 10: Leadership team with decades of experience in oncology, immunology, and drug development
Leadership team with decades of experience in oncology, immunology, and drug development Paul Peter Tak, Francesca Barone, Garrett Nichols, Charles Schoch, MD, PhD, FMedSci MD, PhD MD, MS MBA, MSA President & Chief Chief Scientific Officer Chief Medical Officer Chief Financial Officer Executive Offi
Slide 11: Research Advisory Board of premier thought leaders
Research Advisory Board of premier thought leaders James Allison, PhD Edward Benz, MD Henry Brem, MD Roy Herbst, MD, PhD Elizabeth M. Jaffee, MD Chair of the Department of President and CEO Emeritus Director, Department of Director, Dartmouth Cancer Deputy Director of the Sidney Immunology, MD Ander
Slide 12: Aglatimagene (CAN-2409)
Aglatimagene (CAN-2409) Off-the-shelf therapy, individualized anti-cancer immune response Corporate Presentation | September 2026 12 © 2026 by Candel Therapeutics
Slide 13: Candel is addressing a potential $10 bn+ market with clear unmet need
Candel is addressing a potential $10 bn+ market with clear unmet need The prostate cancer opportunity for aglatimagene Substantial U.S. Addressable Market Opportunity Clear Unmet Need for Patients Suboptimal SoC Options Localized Benefits of LOW INTERMEDIATE HIGH Aglatimagene Long-term ADT associate
Slide 14: Target Product Profile for aglatimagene in localized prostate cancer
Target Product Profile for aglatimagene in intermediate- to high-risk, localized prostate cancer “Off-the-shelf” viral immunotherapy product designed to elicit a broad, potent immune response against solid tumors Planned indication in newly diagnosed localized prostate cancer in patients with interm
Slide 15: Phase 3 clinical trial of aglatimagene in localized prostate cancer
Phase 3 clinical trial of aglatimagene in patients with newly diagnosed, intermediate- to high-risk, localized prostate cancer NCT01436968 Aglatimagene + Primary endpoints Valacyclovir Disease-free survival (3 injection courses + radiotherapy (time to cancer recurrence or n=745 with or without short
Slide 16: Aglatimagene besadenovec injection procedure
Aglatimagene besadenovec injection procedure Procedure Steps 01 Patient Position • Position: knee-chest (lateral) or lithotomy, as in standard TRUS-guided biopsy • Approach: transrectal or transperineal — both acceptable • Setting: in-office or ASC/HOPD; local block or IV sedation typically sufficie
Slide 17: Injection and radiation sequencing schedule
Injection and radiation sequencing schedule t -14d t=0d t +14d 14 days prior to Start of RT 14 days after prior radiotherapy injection 14-day course 14-day course 14-day course valacyclovir valacyclovir valacyclovir INJECTION SCHEDULE INJECTION #1 (t−14d) INJECTION #2 (t=0) INJECTION #3 (t+14d) RT M
Slide 18: Disease-free survival in localized prostate cancer treated with curative intent
Disease-free survival in localized prostate cancer treated with curative intent DFS: time from randomization to prostate cancer recurrence (histologic, clinical, or radiographic evidence), metastasis, or death from any cause Prostate cancer-specific DFS: time from randomization to prostate cancer re
Slide 19: Demographics/baseline characteristics
aglatimagene + prodrug Placebo + prodrug Total ITT population (N=745) Demographics/ Median age (yrs) (N=496) 69 (N=249) 68 (N=745) 69 baseline Race, n(%) characteristics White/Caucasian Black/African American 385 (77.6) 93 (18.8) 206 (82.7) 28 (11.2) 591 (79.3) 121 (16.2) of randomized Asian 3 (0.6)
Slide 20: Aglatimagene in combination with SoC radiation ± ADT was generally well-tolerated
Aglatimagene in combination with SoC radiation ± ADT was generally well-tolerated 0 5.8% vs 7.3% 5.4% vs 6.0% Grade ≥4 TRAEs SAE incidence Discontinuation due to AEs No serious treatment-related events Aglatimagene + SOC vs placebo + SOC Aglatimagene + SOC vs placebo + SOC Treatment-related AEs >5%
Slide 21: Aglatimagene significantly improved disease-free survival
Aglatimagene significantly improved disease-free survival (DFS) in newly diagnosed, intermediate- to high-risk prostate cancer Aglatimagene + prodrug Placebo + prodrug Aglatimagene results in 30% risk reduction in disease recurrence (includes death from any cause) when added to SoC compared to place
Slide 22: Aglatimagene significantly improved prostate cancer-specific DFS
Aglatimagene significantly improved prostate cancer-specific DFS Aglatimagene + prodrug Placebo + prodrug 38% reduction in risk for prostate cancer-specific disease recurrence (ITT*, N=745) Hazard ratio (95% CI): 0.62 (0.44, 0.87), P=0.0046 Median follow-up: 50.3 months (95% CI 45.37, 51.29) DeWeese
Slide 23: Aglatimagene improved prostate cancer-specific DFS, independent of short-term ADT
Aglatimagene Use of ADT Risk Category N events/ patients Prostate specific HR improved prostate with aglatimagene cancer-specific DFS, Intermediate (overall) 86/349 HR = 0.56 95% CI 0.37, 0.86 independent of Intermediate HR = 0.49 short-term androgen No Androgen deprivation therapy Favorable 44/188
Slide 24: Aglatimagene improved DFS independent of radiation therapy regimen
Aglatimagene improved DFS and prostate cancer-specific DFS, independent of radiation therapy regimen Disease-free survival (DFS) Prostate cancer-specific DFS Moderate-hypofractionated EBRT Moderate-hypofractionated EBRT Events: 52/177 Events: 39/177 HR=0.52 (CI: 0.30-0.93) HR= 0.54 (0.28-1.03) Conve
Slide 25: Aglatimagene: Other key secondary endpoints
Significant increase in the proportion of patients achieving a prostate- specific antigen (PSA) nadir of <0.2 ng/mL in the treatment arm compared with placebo arm • 67.1% vs 58.6%, respectively (P=0.0164) Aglatimagene: Other key secondary endpoints As expected1, overall survival was similar by treat
Slide 26: Improved pathological complete response in 2-year biopsies
Aglatimagene significantly improved the rate of pathological complete response in 2-year biopsies compared with the placebo control arm Pathological complete response (pCR) was observed in 79.9% of the biopsies available at 2 years in the aglatimagene arm compared with 63.3% in the placebo arm (χ² p
Slide 27: Positive biopsies ≥2 years after radiotherapy predict metastases and mortality
Positive biopsies ≥2 years after radiotherapy are predictive of metastases and cancer-related mortality after long-term follow-up Patients with a positive prostate biopsy ≥2 years after radiotherapy because of localized cancer had: • 10-fold higher odds of developing biochemical failure (P < 0.00001
Slide 28: Improved prostate cancer-specific DFS after extended follow-up
Aglatimagene significantly improved prostate cancer-specific disease-free survival after extended follow-up (ITT, N = 745) Aglatimagene + SoC resulted in 39% improvement in prostate cancer-specific DFS compared to PBO + SoC Only 2 deaths due to prostate cancer (1 each arm) after median follow-up of
Slide 29: Improved time to salvage therapy and biochemical failure after extended follow-up
Improved time to salvage anticancer therapy and biochemical failure observed in aglatimagene arm after extended follow-up (ITT, N=745) Time to new, salvage anticancer therapy Time to biochemical failure (nadir+2) HR=0.72; 95% CI 0.40 – 1.31 HR=0.72; 95% CI 0.39 – 1.31 Garzotto MG et al. AUA 2026, Wa
Slide 30: Lower incidence of and improved time to metastasis after extended follow-up
Lower incidence of and improved time to metastasis observed in aglatimagene arm after extended follow-up (ITT, N =745) Time to metastasis Aglatimagene + SoC cohort experienced a lower rate of metastases Agla 8/496 (1.6%), PBO 7/249 (2.8%) HR=0.58; 95% CI 0.21 – 1.59 Garzotto MG et al. AUA 2026, Wash
Slide 31: Improved prostate cancer-specific DFS in intermediate-risk prostate cancer
Aglatimagene significantly improved prostate cancer-specific DFS in intermediate-risk prostate cancer after extended follow-up (n=635) Aglatimagene + SoC resulted in 41% improvement in prostate cancer-specific DFS compared to PBO + SoC HR=0.59; 95% CI 0.41 - 0.84 p=0.0034 Garzotto MG et al. AUA 2026
Slide 32: Improved time to salvage therapy and biochemical failure in intermediate-risk
Improved time to salvage anticancer therapy and biochemical failure observed in aglatimagene arm in intermediate-risk prostate cancer (n=635) Time to new, salvage anticancer therapy Time to biochemical failure (nadir+2) HR=0.51; 95% CI 0.24 - 1.1 HR=0.48; 95% CI 0.22 – 1.03 DATA CUTOFF: MAR 15, 2026
Slide 33: Lower incidence of and improved time to metastases in intermediate-risk
Lower incidence of and improved time to metastases observed in aglatimagene arm in intermediate-risk prostate cancer (n = 635) Time to metastasis Aglatimagene + SoC cohort experienced lower rate of metastatic disease Agla 1/422 (0.24%), PBO 5/213 (2.35%) HR=0.10; 95% CI 0.01 – 0.85 Garzotto MG et al
Slide 34: Phase 3 trial: primary endpoint achieved, supported by secondary and exploratory endpoints
Phase 3 clinical trial of aglatimagene in intermediate- to high-risk, localized prostate cancer: primary endpoint achieved, supported by various secondary and exploratory endpoints 745-patient randomized trial with treatment arm + placebo arm, focused on disease-free survival (DFS) as Trial Design p
Slide 35: Candel's pre-commercialization model
Candel’s pre-commercialization model 01 Extensive commercialization experience in oncology 02 Market-leading pricing and market access capabilities to maximize value 03 Expertise to define critical strategies and operational levers to ensure success 04 Flexibility, shared risk, and potential launch
Slide 36: Dynamic commercial launch readiness for aglatimagene in prostate cancer
Dynamic commercial launch readiness for aglatimagene in prostate cancer 12- to 18-month commercial road map At launch • HCP/account engagement Strategic Goals Key Activities execution Planned pre-launch • Speaker medical Go-to-Market activities education program Ensure a seamless, data- • Patient ac
Slide 37: Payor mix and direct feedback support broad market access
Payor mix and direct feedback support broad market access Other Payor Feedback ~5% “ Traditional …I like a localized setting product that’s got curative intent Medicare because recurrence rates are still high as well. So, there’s definitely unmet need in the space for a product like this … Commercia
Slide 38: Payor feedback indicates strong support for reimbursement
Payor feedback Key Factors Driving Coverage indicates strong Clinical Benefit: Aglatimagene seen as offering a clinically support for meaningful improvement over RT (± ADT) alone for intermediate- to high-risk patients – based largely on the DFS data, although the reimbursement for positive secondar
Slide 39: Benchmarks and payer feedback support an illustrative pricing range
Benchmarks and payer feedback support an illustrative pricing range for aglatimagene in localized prostate cancer Payer study findings Annual wholesale acquisition cost (WAC) for selected prostate cancer products • Phase 3 results resonate with payers and ~$310k purchasers—30% improvement in disease
Slide 40: Aglatimagene: Non-small cell lung cancer opportunity
Aglatimagene: Non-small cell lung cancer opportunity NSCLC cancer therapy global market was estimated to be $32B in 2023 and is expected to grow to $52B by 20281 Advanced Non-Squamous NSCLC in the US2 • Lung cancer is most common cancer in the US; NSCLC represents over 80% of all lung cancer (70-75%
Slide 41: Phase 2a trial of aglatimagene + continued ICI in stage III/IV NSCLC
Phase 2a clinical trial of aglatimagene + continued ICI in stage III/IV NSCLC patients with an inadequate response to ICI Cohort 1 Aglatimagene January 2026 data Stage III/IV Stable disease and valacyclovir (after >18 weeks ICI) • Overall survival data (2 courses) with Unresectable • Long tail of su
Slide 42: Bronchoscopic delivery of aglatimagene
Most lung and thoracic lymph node lesions are accessible through outpatient bronchoscopic injection • Therapeutic delivery tool based on extensive experience with bronchoscopic biopsy, a Bronchoscopic routine outpatient procedure (~30 min, outpatient setting) delivery of • Transbronchial needle inje
Slide 43: Study population: unfavorable prognostic factors at baseline
Study population: unfavorable prognostic factors at baseline PDL-1 expression Smoking Prior lines of therapy 5.3% 9.2% 13.2% Platinum-based with 3.9% premetrexed 11.8% <1% Platinum-based with 26.3% Former 5.3% taxane 46.0% 1%-49% Platinum-based and/or Current other >50% 57.9% Never 19.7% Unknown Unk
Slide 44: CONSORT diagram
CONSORT diagram AE=adverse event. Corporate Presentation | September 2026 44 © 2026 by Candel Therapeutics
Slide 45: Baseline demographics and characteristics: per-protocol population
Baseline demographics and characteristics: Per-protocol population is representative of overall study population Enrolled n=76 (%) Per protocol n=46 (%) Enrolled n=76 (%) Per protocol n=46 (%) Age Smoking history Median (range), years 67 (43-88) 69 (43-84) Never 7 (9.2%) 4 (8.7%) Sex Former 60 (78.9
Slide 46: Aglatimagene demonstrated a generally favorable safety and tolerability profile
Aglatimagene demonstrated a generally favorable safety and tolerability profile Most Common Treatment-Emergent Related Adverse Events Occurring In ≥5% of patients (n=73) Grade: n (%) 1 2 3 4 Total Gastrointestinal disorders Diarrhea 5 (7) 0 (0) 0 (0) 0 (0) 5 (7) Nausea 11 (15) 4 (5) 0 (0) 0 (0) 15 (
Slide 47: mOS of 25.4 months after aglatimagene treatment in NSCLC
mOS of 25.4 months after aglatimagene treatment in NSCLC patients with an inadequate response to immune checkpoint inhibitors (cohort 1 and cohort 2) Cohort 1 + Cohort 2 (per protocol population) mOS 25.4 months n=46 Per protocol population: patients who received complete treatment consisting of 2 c
Slide 48: mOS of 21.5 months in patients with progressive disease despite ICI
mOS of 21.5 months after aglatimagene treatment in NSCLC patients with progressive disease despite immune checkpoint inhibitor (cohort 2) Cohort 2 (per protocol population): Patients with the greatest unmet medical needs mOS 21.5 months n=41 Per protocol population: patients who received complete tr
Slide 49: Durable tumor regression and long-term survival after aglatimagene
Large, growing lung mass with durable post-treatment tumor regression and long-term survival after aglatimagene treatment (survival 56.4 months) PA-003 (Cohort 1) 73-year-old male, stage III non-squamous NSCLC 120 diagnosed January 2020, PD-L1<1% 110 Target sum (mm) OS 56.4 mos. Initial therapy: pem
Slide 50: Long-term systemic anti-tumor activity in progressive, metastatic NSCLC
Aglatimagene induced long-term, systemic anti-tumor activity in progressive, metastatic NSCLC (survival 58.3 months) 40 aglatimagene 1ST injection Abscopal effect after aglatimagene treatment 30 Target sum (mm) aglatimagene 2nd injection NY-007 (Cohort 2) 74-year-old male, stage IV non-squamous NSCL
Slide 51: Local injection-induced systemic antitumor activity
Local injection-induced systemic antitumor activity Regression of uninjected lesions in ~two-thirds of patients presenting with multiple lesions Abscopal effect Abscopal effect >5% 40 • Systemic or abscopal effect Number of responses 30 (decrease of uninjected lesions) 31% 40% was measured in all ev
Slide 52: Fifty percent of patients alive >2 years after treatment
Fifty percent of patients alive > 2 years after treatment with aglatimagene despite poor response to ICI Cohort 1+2 (n=46) Time post treatment N. Patients % survivors(1) Cohort 1 + 2 (per protocol population) >24 months 23 50% n=46 >30 months 16 35% Long tail of aglatimagene survival >36 months 12 2
Slide 53: Immune activation associated with long term survival
Immune activation associated with long term (>24 months) survival after aglatimagene administration Gene expression fold change from baseline Short survivors Long survivors p = 0.026 p = 0.013 NPX (Expression) p = 0.034 Corporate Presentation | September 2026 53 © 2026 by Candel Therapeutics
Slide 54: Increased T cell receptor diversity in peripheral blood and tumor tissue
Increased T cell receptor diversity in peripheral blood and tumor tissue after aglatimagene administration B 1 2-3 6 7 8-9 12 F/U Baseline Post-treatment Weeks B=baseline Injection #1 Injection #2 F/U= follow-up Corporate Presentation | September 2026 54 © 2026 by Candel Therapeutics
Slide 55: mOS of 25.4 months in non-squamous NSCLC with progressive disease
mOS of 25.4 months after aglatimagene treatment in non-squamous NSCLC patients with progressive disease despite ICI (per protocol in cohort 2) Cohort 2 (per protocol population, non-squamous NSCLC): Patients with the greatest unmet medical needs and histologic subset most likely to benefit from agla
Slide 56: Towards a precision medicine approach: Non-squamous NSCLC
Towards a precision Changes after 2nd aglatimagene injection medicine approach: Non-squamous NSCLC Squamous Non-squamous is characterized by Non-switched memory B cells PDL1+ differential CD1c+CD14+ DCs immunological response Flow cytometry analysis. Non- to aglatimagene CD8 T Naive Non-switched mem
Slide 57: Non-squamous and squamous PD(L)-1 refractory NSCLC are distinct subsets
Towards a precision medicine approach: Non-squamous (~70-75%) and squamous PD(L)-1 refractory NSCLC (~25-30%) are distinct disease subsets with a differential response to treatment Survival by histology in TROPION-Lung01 study1 Survival by histology in aglatimagene treated patients Non-SQ= non squam
Slide 58: mOS of 16.7 months in non-squamous NSCLC (ITT in cohort 2)
mOS of 16.7 months after aglatimagene in non-squamous NSCLC patients with progressive disease despite ICI (ITT* in cohort 2) Cohort 2 (intention to treat population*, non-squamous NSCLC) mOS 16.7 months Historical controls: mOS in PD-1 refractory NSCLC n=53 with non-squamous disease with SoC chemo i
Slide 59: Positive overall survival data in phase 2a trial of aglatimagene in NSCLC
Positive overall survival data in phase 2a clinical trial of aglatimagene in NSCLC Experimental treatment of aglatimagene + valacyclovir in NSCLC patients with an inadequate response to ICI was well tolerated, with mOS of 25.4 months mOS of 21.5 months was observed in patients with progressive disea
Slide 60: Phase 3 trial of aglatimagene with pembrolizumab in stage IV NSCLC
Phase 3 clinical trial of aglatimagene+prodrug with continued pembrolizumab in stage IV NSCLC patients with progressive disease despite pembrolizumab treatment Arm 1 (Experimental) Metastatic stage IV non-squamous Primary endpoints Aglatimagene besadenovec + NSCLC valacyclovir (2 courses) + pembroli
Slide 61: Linoserpaturev (CAN-3110)
Linoserpaturev (CAN-3110) Oncolytic virus with tumor-specificity Corporate Presentation | September 2026 61 © 2026 by Candel Therapeutics
Slide 62: Linoserpaturev: High-grade glioma opportunity
Linoserpaturev: High-grade glioma opportunity Prevalence of 1st Line 2nd Line 3rd Line glioblasatoma in the US1 16K 12K 7K • Glioblastoma, the most common form of high-grade glioma, is a rare and often deadly cancer1 • Fewer than 10% of patients survive >5 years past initial diagnosis2 • Median over
Slide 63: Phase 1b clinical trial of linoserpaturev in recurrent high-grade glioma
Phase 1b clinical trial of linoserpaturev in recurrent high-grade glioma PI: Dr. E. Antonio Chiocca (Brigham & Women’s) Dose escalation (Cohort I-IX) Single stereotactic injection of linoserpaturev Primary endpoints 3+3 dose escalation 1 x 106 to 1 x 1010 PFU in half-log increments • Safety Arm A 30
Slide 64: Linoserpaturev treatment in patients with recurrent high-grade glioma
Linoserpaturev treatment in patients with recurrent high-grade glioma HSV-1 HSV-1 injected uninjected lesion lesion Persistent HSV antigen expression in injected tumors as well as HSV1 antigen 6 weeks after injection of 1x106 pfu uninjected tumors 1.79 x 106 copies of viral DNA/mg associated with 2.
Slide 65: Monotherapy activity of linoserpaturev in recurrent high-grade glioma (arm A)
Monotherapy activity of linoserpaturev in recurrent high-grade glioma (arm A) Clinical effect on injected tumor and uninjected tumor Baseline Day 0 Day 56 Day 111 Day 168 Day 280 Black hole within tumor Reduction in contrast area Patient back to work image is injection site with no additional treatm
Slide 66: Durable response for 2 years after single injection in recurrent glioblastoma
Durable response for 2 years after single injection of linoserpaturev in recurrent glioblastoma (patient died in an accident) Initial lesion Day—262 Day—259 Day—47 Day—30 Day—14 Initial presentation Initial resection Tumor recurrence 2nd subtotal resection Rapid progression Tumor bed injection site
Slide 67: Encouraging overall survival after single injection of linoserpaturev
Encouraging overall survival in recurrent high-grade glioma after single injection of linoserpaturev Arm A: dose escalation N = 41 Median overall survival: • 41 unique patients 11.8 months were dosed; one patient was treated Expected median twice, in cohort IX overall survival: and X <6-9 months Arm
Slide 68: Prolonged survival associated with HSV1 seropositivity
Prolonged survival after linoserpaturev treatment was associated with HSV1 seropositivity HSV2 serology status is not CO×PH Hazard Ratios associated with survival. Ling AL et al. Nature 2023;623:157-166 Corporate Presentation | September 2026 68 © 2026 by Candel Therapeutics
Slide 69: Changes in T-cell fractions and TCRβ diversity correlate with survival
Tumor TCRβ Post linoserpaturev Changes in T-cell fractions and TCRβ diversity correlate with survival after linoserpaturev treatment Post linoserpaturev Tumor Productive entropy PBMC TCR Post linoserpaturev Analysis was performed if > 200 ng of DNA could be extracted in pretreatment or post-treatmen
Slide 70: Linoserpaturev induces remodeling of the tumor microenvironment
Linoserpaturev induces dynamic spatial and temporal remodeling of the tumor microenvironment, where tumor cells are replaced by immune cells Ling AL et al. Sci Transl Med 2025;17:eadv2881 Corporate Presentation | September 2026 70 © 2026 by Candel Therapeutics
Slide 71: Survival data after repeated administration of linoserpaturev
Survival data after repeated administration of linoserpaturev in recurrent glioblastoma (ongoing), suggesting a long tail of survival Patient Age Sex # of injections OS (months) Status 1 54 M 4 12.42 D At the time of data cutoff (8/15/2025), 2 66 F 6 28.16 A 2 patients were still alive after single
Slide 72: Encouraging safety data, clinical activity, and immunological changes
Encouraging safety data, clinical activity, and immunological changes after linoserpaturev in recurrent high-grade glioma (glioblastoma) Monotherapy treatment with linoserpaturev in rHGG is well tolerated and associated with doubling of expected median overall survival Immunological changes in the t
Slide 73: Candel at a glance
Candel at a glance Aglatimagene besadenovec (CAN-2409): Off-the-shelf pan-solid tumor therapy, individualized anticancer immune response • Positive phase 3 randomized placebo-controlled clinical trial in localized, intermediate- to high-risk prostate cancer, published in Lancet Oncology • Positive o
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