Candel Therapeutics, Inc. CADL
We are a clinical stage biopharmaceutical company focused on developing off-the-shelf viral immunotherapies that elicit an individualized, systemic anti-tumor immune response to help patients fight cancer. Our engineered viruses are designed to induce a systemic anti-tumor response due to induction of immunogenic cell death within the tumor microenvironment, thus releasing tumor neo-antigens and creating a pro-inflammatory microenvironment at the site of injection. This is intended to lead to in-situ immunization against the injected tumor and uninjected distant metastases. Local administration is designed to achieve these therapeutic effects while minimizing systemic exposure and associated toxicity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $125.0K | $125.0K | $125.0K | — |
| R&D | $30.5M | $19.3M | $24.5M | $20.8M | $15.2M | $8.8M | — |
| SG&A | $17.8M | $14.1M | $13.9M | $14.1M | $10.7M | $5.2M | — |
| Total operating expenses | $48.3M | $33.4M | $38.4M | $34.8M | $25.9M | $13.9M | — |
| Operating income | -$48.3M | -$33.4M | -$38.4M | -$34.7M | -$25.7M | -$13.8M | — |
| Interest expense | $2.1M | $2.1M | $2.6M | $1.7M | — | — | — |
| Pre-tax income | -$38.2M | -$55.2M | -$37.9M | -$18.8M | -$36.1M | — | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | — | — |
| Net income | -$38.2M | -$55.2M | -$37.9M | -$18.8M | -$36.1M | -$17.7M | — |
| EPS, basic | -0.72 | -1.74 | -1.31 | -0.65 | -1.91 | — | — |
| EPS, diluted | -0.72 | -1.74 | -1.31 | -0.65 | -1.91 | -1.52 | — |
| Shares, diluted (wtd. avg.) | 53.0M | 31.7M | 28.9M | 28.8M | 18.9M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $119.7M | $102.7M | $35.7M | $70.3M | $83.1M | $35.3M | $5.4M |
| Total current assets | $121.4M | $103.8M | $36.8M | $71.9M | $84.9M | $35.1M | — |
| Property, plant and equipment | $1.6M | $2.2M | $3.2M | $4.4M | $3.8M | $2.8M | — |
| Total assets | $125.2M | $106.9M | $41.2M | $77.7M | $89.2M | $38.3M | — |
| Accounts payable | $1.1M | $237.0K | $422.0K | $380.0K | $1.6M | $921.0K | — |
| Short-term debt | $0 | $9.9M | $8.9M | — | — | — | — |
| Total current liabilities | $9.0M | $37.5M | $14.2M | $5.6M | $5.4M | $4.7M | — |
| Long-term debt | — | $1.7M | $11.6M | — | $560.0K | $483.0K | — |
| Total liabilities | $73.3M | $40.5M | $28.5M | $30.0M | $25.1M | $12.8M | — |
| Retained earnings | -$230.4M | -$192.2M | -$137.0M | -$99.1M | -$80.3M | -$44.2M | — |
| Total equity | $51.9M | $66.3M | $12.7M | $47.7M | $64.1M | -$23.6M | -$8.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$38.3M | -$27.0M | -$34.2M | -$31.4M | -$22.2M | -$9.1M | — |
| Depreciation and amortisation | $845.0K | $990.0K | $960.0K | $778.0K | $232.0K | $91.0K | — |
| Stock-based compensation | $3.8M | $5.3M | $3.1M | $2.3M | $3.0M | $2.1M | — |
| Capital expenditure | $587.0K | $16.0K | $457.0K | $1.3M | $1.8M | $1.5M | — |
| Investing cash flow | -$560.0K | -$16.0K | -$280.0K | -$1.3M | -$1.8M | $38.5M | — |
| Financing cash flow | $56.1M | $94.3M | -$121.0K | $20.0M | $71.8M | $490.0K | — |
| Buybacks | — | — | — | $448.0K | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-103134.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $125.0K | $125.0K | $125.0K | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$17.7M | -$36.1M | -$18.8M | -$37.9M | -$55.2M | -$38.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed Item 1.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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