Micro-Cap Cancer Focused Candel Therapeutics Highlights Encouraging Data From Brain Tumor Immunotherapy
Portfolio Pulse from Vandana Singh
Candel Therapeutics Inc (NASDAQ:CADL) reported updated data from a phase 1b trial of CAN-3110, showing promising results in treating recurrent high-grade glioma (rHGG). The trial observed a significant increase in median overall survival rates among patients, nearly doubling the expected survival compared to historical data. Over 50 patients have been treated, with positive HSV-1 serology indicating improved survival outcomes. Additionally, Candel shared interim data from a phase 2 trial of CAN-2409 for pancreatic ductal adenocarcinoma. The company's financials show $35.4 million in cash, expected to fund operations into Q4 2024. CADL shares rose 8.86% to $1.72.
April 01, 2024 | 4:49 pm
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Candel Therapeutics Inc reported promising trial results for CAN-3110 in treating recurrent high-grade glioma, showing a significant increase in survival rates. The company's financial position is solid, with sufficient cash to fund operations into Q4 2024. Shares rose 8.86% to $1.72.
The positive trial results for CAN-3110 in treating a challenging condition like recurrent high-grade glioma indicate a significant advancement in Candel Therapeutics' product pipeline, which is likely to generate investor optimism and potentially increase the stock price in the short term. The company's strong financial position, with enough cash to fund operations into the fourth quarter of 2024, further supports the positive outlook for the stock.
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IMPORTANCE 90
RELEVANCE 100