Candel Therapeutics, Inc. (CADL)
Candel Therapeutics, Inc. is a clinical-stage biopharmaceutical firm based in Needham, Massachusetts, dedicated to developing innovative immunotherapies for cancer patients. Its pipeline features CAN-2409, which is presently in Phase II clinical trials for pancreatic and lung cancers, and has progressed to Phase III for prostate cancer. This therapy also successfully completed Phase Ib/II trials for high-grade glioma. Furthermore, the company is advancing CAN-3110, an investigational therapy currently in Phase I clinical trials for recurrent glioblastoma. Established in 2003, the company operated as Advantagene, Inc. until November 2020, when it rebranded as Candel Therapeutics, Inc.
Sector: Biological Products, (No Diagnostic Substances)
Industry: Biotechnology
Candel Therapeutics, Inc.
NASDAQ:CADLHealthcare · Biotechnology
-3.70%$8.33
AH$8.47+1.68%vs close
Mkt Cap$637.4M
Float59.29M
O/S76.52M
Vol
$ Vol
RVOL
Inst Own64.8%
SI21.5%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$38.18M
Total Assets$125.19M
Free Cash Flow-$38.9M
Debt & Equity
Debt 4%
Equity 96%
Total Debt$1.9M
Total Equity$51.92M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in CADL's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$125.19M
Liabilities$73.27M
Accounts Receivable$0
Accounts Payable$1.13M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $0 | $0 | $0 | $125K | $125K | $125K | $125K |
| YoY Growth | - | - | - | 0.0% | 0.0% | 0.0% | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $0 | $0 | $0 | $125K | $125K | $125K | $125K |
| Gross Margin | - | - | - | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $30.5M | $19.31M | $24.51M | $20.79M | $15.18M | $8.75M | $6.61M |
| Selling, General, and Administrative | $17.77M | $14.06M | $13.88M | $14.06M | $10.67M | $5.18M | $2.56M |
| Other | $0 | $0 | $0 | -$48K | $0 | $0 | $0 |
| Total Operating Expenses | $48.27M | $33.37M | $38.39M | $34.8M | $25.85M | $13.94M | $9.16M |
| Operating Income (EBIT) | -$48.27M | -$33.37M | -$38.39M | -$34.67M | -$25.73M | -$13.81M | -$9.04M |
| Operating Margin | - | - | - | -27739.2% | -20580.8% | -11048.0% | -7229.6% |
| Interest Expense | $2.12M | $2.09M | $2.6M | $1.71M | $0 | $0 | $0 |
| Interest Income | $3.92M | $1.09M | $2.08M | $1.22M | $0 | $111K | $1.07M |
| Other Income (Expense) | $10.08M | -$21.81M | $452K | $15.93M | -$10.4M | -$3.87M | $797K |
| Income Before Tax (EBT) | -$38.18M | -$55.18M | -$37.94M | -$18.79M | -$36.12M | -$17.68M | -$8.24M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$38.18M | -$55.18M | -$37.94M | -$18.79M | -$36.12M | -$17.68M | -$8.24M |
| Net Income Margin | - | - | - | -15035.2% | -28899.2% | -14144.0% | -6592.0% |
| Supplementary Data | |||||||
| EPS | -0.72 | -1.74 | -1.31 | -0.10 | -1.91 | -1.18 | -0.43 |
| Diluted EPS | -0.72 | -1.74 | -1.31 | -0.10 | -1.91 | -1.18 | -0.43 |
| Weighted Average OS | 52.96M | 31.68M | 28.94M | 28.82M | 18.87M | 18.71M | 18.71M |
| EBITDA | -$35.22M | -$52.1M | -$34.38M | -$16.31M | -$35.89M | -$13.1M | -$8.42M |
| EBITDA Margin | - | - | - | -13046.4% | -28713.6% | -10476.0% | -6738.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $119.73M | $102.65M | $35.41M | $70.06M | $82.64M | $35.05M | $5.18M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $39.88M |
| Cash and Short-Term Investments | $119.73M | $102.65M | $35.41M | $70.06M | $82.64M | $35.05M | $45.06M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $1.38M | $1.89M | $2.3M | $0 | $0 |
| Total Current Assets | $119.73M | $103.8M | $36.8M | $71.94M | $84.94M | $35.15M | $45.21M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $0 | $2.73M | $4.02M | $5.48M | $3.84M | $2.79M | $425K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $416K | $0 | $0 | $266K | $424K | $0 | $266K |
| Deferred Tax Assets | $0 | $0 | $0 | $828K | $0 | $0 | $0 |
| Other Long-Term Assets | $5.05M | $329K | $382K | $0 | $0 | $349K | $0 |
| Total Long-Term Assets | $5.46M | $3.06M | $4.4M | $6.57M | $4.26M | $3.14M | $691K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $125.19M | $106.87M | $41.2M | $78.52M | $89.2M | $38.28M | $45.9M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $1.13M | $237K | $422K | $380K | $1.59M | $921K | $218K |
| Short-Term Debt | $445K | $9.89M | $8.89M | $464K | $0 | $463K | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $7.42M | $22.11M | $2.34M | $2.12M | $1.68M | $187K | $615K |
| Total Current Liabilities | $9M | $37.53M | $14.18M | $5.62M | $5.36M | $4.71M | $1.41M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $1.46M | $2.6M | $12.38M | $20.85M | $560K | $483K | $420K |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $144K | $0 | $125K | $250K |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $828K | $0 | $0 | $0 |
| Other Long-Term Liabilities | $62.82M | $0 | $916K | $1.88M | $19.15M | $56.52M | $51.86M |
| Total Long-Term Liabilities | $64.28M | $3.01M | $14.27M | $25.19M | $19.71M | $57.13M | $52.53M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $73.27M | $40.54M | $28.46M | $30.8M | $25.07M | $61.84M | $53.94M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $89.2M | $0 | $49.06M |
| Common Stock | $550K | $469K | $290K | $290K | $286K | $116K | $116K |
| Retained Earnings | -$230.39M | -$192.21M | -$137.03M | -$99.09M | -$80.3M | -$44.17M | -$26.49M |
| Comprehensive Income & Other | $0 | -$0 | $0 | $0 | -$89.2M | $0 | -$19K |
| Other Stockholders' Equity | $281.76M | $258.06M | $149.48M | $146.51M | $144.15M | $20.49M | $18.34M |
| Total Equity | $51.92M | $66.33M | $12.74M | $47.71M | $64.14M | -$23.56M | -$8.04M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $125.19M | $106.87M | $41.2M | $78.52M | $89.2M | $38.28M | $45.9M |
| Supplementary Data | |||||||
| Total Debt | $1.9M | $13.47M | $22.76M | $22.8M | $560K | $946K | $420K |
| Net Debt | -$117.83M | -$89.18M | -$12.65M | -$47.26M | -$82.08M | -$34.11M | -$4.76M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | -$38.18M | -$55.18M | -$37.94M | -$18.79M | -$36.12M | -$17.68M | -$8.24M |
| Depreciation & Amortization | $845K | $990K | $960K | $778K | $232K | $91K | $43K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $11.51M | $0 | $0 |
| Stock-Based Compensation | $3.82M | $5.31M | $3.09M | $2.31M | $2.96M | $2.11M | $400K |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $802K | -$185K | $45K | -$1.21M | $669K | $289K | $13K |
| Other Working Capital | $1.39M | $531K | -$570K | $1.28M | -$1.54M | $1.49M | $500K |
| Total Working Capital Change | $2.19M | $346K | -$525K | $71K | -$876K | $1.77M | $513K |
| Other Non-Cash Items | -$6.98M | $21.51M | $169K | -$15.78M | $76K | $4.64M | $2.11M |
| Net Cash from Operating | -$38.31M | -$27.02M | -$34.24M | -$31.42M | -$22.22M | -$9.07M | -$5.18M |
| Investing Activities | |||||||
| Capital Expenditures | -$587K | -$16K | -$457K | -$1.3M | -$1.83M | -$1.48M | -$159K |
| Acquisitions | $27K | $0 | $0 | $0 | $0 | $0 | -$846K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | -$6K | -$39.11M |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $39.94M | $4.37M |
| Other Investing Activities | $0 | $0 | $177K | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$560K | -$16K | -$280K | -$1.3M | -$1.83M | $38.45M | -$35.74M |
| Financing Activities | |||||||
| Debt Repaid | -$36.21M | $9.17M | - | -$19.91M | - | -$460K | $522K |
| Common Stock Issuance | $19.89M | $101.76M | $0 | $0 | $71.33M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $1.69M | -$121K | $64K | $465K | $30K | $1K |
| Net Cash from Financing | $56.1M | $94.28M | -$121K | $19.97M | $71.8M | $490K | $21.98M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $17.23M | $67.24M | -$34.65M | -$12.74M | $47.75M | $29.87M | -$18.94M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$38.31M | -$27.02M | -$34.24M | -$31.42M | -$22.22M | -$9.07M | -$5.18M |
| Capital Expenditure | -$587K | -$16K | -$457K | -$1.3M | -$1.83M | -$1.48M | -$159K |
| Free Cash Flow | -$38.9M | -$27.04M | -$34.7M | -$32.72M | -$24.05M | -$10.55M | -$5.34M |
| Cash at Beginning | $102.92M | $35.68M | $70.32M | $83.07M | $35.32M | $5.45M | $24.38M |
| Cash at End | $120.15M | $102.92M | $35.68M | $70.32M | $83.07M | $35.32M | $5.45M |