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Candel Therapeutics, Inc., a clinical stage biopharmaceutical company, develops immunotherapies for cancer patients. It develops CAN-2409, which is in Phase 2a clinical trials for the treatment of prostate cancer; and Phase 2a clinical trials for the treatment of non-small cell lung cancer (NSCLC). The company is also developing CAN-3110, which is in Phase Ib clinical trials for the treatment of recurrent high-grade glioma. In addition, it develops the enLIGHTEN Discovery Platform, a systematic, iterative herpes simplex virus based discovery platform leveraging human biology and advanced analytics to create new viral immunotherapy candidates for solid tumors. The company was formerly known as Advantagene, Inc. and changed its name to Candel Therapeutics, Inc. in November 2020. Candel Therapeutics, Inc. was incorporated in 2003 and is headquartered in Needham, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-35M | $-38M | $-39M | -73.5% | - | -30.8% |
| 2024 | $0M | $-52M | $-55M | $-27M | -83.2% | - | 45.4% |
| 2023 | $0M | $-34M | $-38M | $-35M | -297.7% | -100.0% | 101.9% |
| 2022 | $0M | $-16M | $-19M | $-33M | -39.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0.12 | 0 | 0 | 0 |
| Operating Revenue | - | 0.12 | 0 | 0 | 0 |
| Operating Expense | - | 34.80 | 38.39 | 33.37 | 48.18 |
| Research And Development | - | 20.79 | 24.51 | 19.31 | 30.50 |
| Selling General And Administration | - | 14.06 | 13.88 | 14.06 | 17.77 |
| Total Expenses | - | 34.80 | 38.39 | 33.37 | 48.18 |
| Operating Income | - | -34.67 | -38.39 | -33.37 | -48.18 |
| Total Operating Income As Reported | - | -34.72 | -38.39 | -33.37 | -48.27 |
| EBITDA | - | -16.31 | -34.38 | -52.10 | -35.22 |
| Normalized EBITDA | - | -32.68 | -35.35 | -31.30 | -43.42 |
| EBIT | - | -17.09 | -35.34 | -53.09 | -36.06 |
| Interest Income | - | 1.22 | 2.08 | 1.09 | 3.92 |
| Interest Expense | - | 1.71 | 2.60 | 2.09 | 2.12 |
| Net Interest Income | - | -0.49 | -0.51 | -1 | 1.80 |
| Other Income Expense | - | 16.37 | 0.97 | -20.80 | 8.20 |
| Interest Income Non Operating | - | 1.22 | 2.08 | 1.09 | 3.92 |
| Interest Expense Non Operating | - | 1.71 | 2.60 | 2.09 | 2.12 |
| Net Non Operating Interest Income Expense | - | -0.49 | -0.51 | -1 | 1.80 |
| Pretax Income | - | -18.79 | -37.94 | -55.18 | -38.18 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -18.79 | -37.94 | -55.18 | -38.18 |
| Net Income From Continuing And Discontinued Operation | - | -18.79 | -37.94 | -55.18 | -38.18 |
| Net Income From Continuing Operation Net Minority Interest | - | -18.79 | -37.94 | -55.18 | -38.18 |
| Net Income | - | -18.79 | -37.94 | -55.18 | -38.18 |
| Net Income Common Stockholders | - | -18.79 | -37.94 | -55.18 | -38.18 |
| Net Income Including Noncontrolling Interests | - | -18.79 | -37.94 | -55.18 | -38.18 |
| Normalized Income | - | -35.16 | -38.90 | -34.38 | -46.38 |
| Diluted NI Availto Com Stockholders | - | -18.79 | -37.94 | -55.18 | -38.18 |
| Basic Average Shares | 18.87 | 28.82 | 28.94 | 31.68 | - |
| Diluted Average Shares | 18.87 | 28.82 | 28.94 | 31.68 | - |
| Reconciled Depreciation | - | 0.78 | 0.96 | 0.99 | 0.84 |
| Total Unusual Items | - | 16.37 | 0.97 | -20.80 | 8.20 |
| Total Unusual Items Excluding Goodwill | - | 16.37 | 0.97 | -20.80 | 8.20 |
| Gain On Sale Of Security | - | 16.37 | 0.97 | -20.80 | 8.20 |
| General And Administrative Expense | - | 14.06 | 13.88 | 14.06 | 17.77 |
| Other Gand A | - | 4.26 | 4.39 | 5.85 | 8.94 |
| Salaries And Wages | - | 7.23 | 7.73 | 6.83 | 7.64 |
| Insurance And Claims | - | 2.38 | 1.60 | 1.19 | 0.99 |
| Rent Expense Supplemental | - | 0.18 | 0.16 | 0.19 | 0.19 |
| Total Other Finance Cost | 0.05 | 0.49 | - | - | - |
| Other Operating Expenses | -1.08 | -0.05 | - | - | -0.09 |
| Rent And Landing Fees | - | 0.18 | 0.16 | 0.19 | 0.19 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Candel Therapeutics, Inc.this co. | CADL | $679M | -17.79 | 13.08 | -73.5% | -17.28 |
| Allogene Therapeutics, Inc. | ALLO | $704M | -3.69 | 2.41 | -65.3% | -4.15 |
| Aura Biosciences, Inc. | AURA | $703M | -6.62 | 5.13 | -77.6% | -5.92 |
| Design Therapeutics, Inc. | DSGN | $672M | -9.63 | 3.16 | -32.8% | -8.33 |
| CorMedix Inc. | CRMD | $670M |
| - |
| - |
| - |
| - |
| - |
| 4.13 |
| 1.65 |
| 40.0% |
| 4.01 |
| Zevra Therapeutics, Inc. | ZVRA | $660M | 7.93 | 4.27 | 53.8% | 6.70 |
| SI-BONE, Inc. | SIBN | $660M | - | 3.72 | -10.6% | - |
| Aclaris Therapeutics, Inc. | ACRS | $658M | -10.13 | 6.38 | -63.0% | - |
| Castle Biosciences, Inc. | CSTL | $655M | -27.12 | 1.39 | -5.1% | 50.72 |
| Peer Median | - | -6.62 | 3.44 | -21.7% | -0.07 | |