After Brain Cancer Data, Candel Therapeutics' Shares Good News From Pancreatic Cancer Study
Portfolio Pulse from Vandana Singh
Candel Therapeutics Inc (NASDAQ:CADL) released updated interim survival data from a phase 2 trial of CAN-2409 plus valacyclovir for pancreatic cancer, showing prolonged survival compared to the control group. The data, presented after eight months of additional follow-up, demonstrated a median overall survival of 28.8 months in the CAN-2409 group versus 12.5 months in the control group. The treatment was well tolerated with no dose-limiting toxicities. Following the news, CADL shares surged 31.70% to $2.21.
April 04, 2024 | 2:24 pm
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POSITIVE IMPACT
Candel Therapeutics Inc released positive phase 2 trial data for CAN-2409 in pancreatic cancer, showing significant survival benefits and good tolerability. Shares jumped 31.70% to $2.21.
The significant improvement in survival rates and favorable safety profile of CAN-2409 in the phase 2 trial directly impacts Candel Therapeutics' market perception and investor confidence, leading to a sharp increase in stock price. The data suggests potential for CAN-2409 as a viable treatment option for pancreatic cancer, which could translate into future revenue growth for the company. The immediate positive reaction in stock price reflects the market's optimism about the trial results and their implications for the company's product pipeline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100