Candel Therapeutics Reported Better-Than-Feared Q1 Loss – But All Eyes Turn To This Pivotal Event Tomorrow

• The company posted a loss of $0.14 per share, compared to consensus estimates of a loss of $0.33 per share, according to Fiscal.ai data.
• Candel will present its follow-up data at the American Urological Association 2026 annual meeting plenary program on Friday.
• The biotech firm is set to begin a Phase 3 trial for lung cancer treatment in June.

Candel Therapeutics (CADL) was in the spotlight on Thursday as investors turned their attention away from the company’s first-quarter earnings toward a highly anticipated follow-up data readout from its pivotal Phase 3 prostate cancer trial.

Candel will present the data at the American Urological Association (AUA) 2026 annual meeting plenary program on Friday.

CADL shares were trading around 2% lower at the time of writing.

CADL’s Prostate Cancer Therapy In Focus

In December 2024, Candel announced positive Phase 3 trial results for its CAN-2409 cancer therapy in patients with localized prostate cancer. The study met its primary goal, showing that patients who received CAN-2409 in addition to standard treatment remained disease-free longer than those who received standard treatment alone.

The drug has already received Fast Track and Regenerative Medicine Advanced Therapy designations from the U.S. Food and Drug Administration (FDA), and Candel now plans to complete manufacturing process validation in the second quarter to support a planned Biologics License Application (BLA) submission in Q4 2026.

CADL To Begin Phase 3 Trial For Lung Cancer Treatment In June

Candel recently reported updated long-term data from a Phase 2 trial studying CAN-2409 in advanced non-small cell lung cancer (NSCLC) patients who had not responded well to prior immunotherapy treatment.

Half of the 46 patients in the study survived for more than 24 months despite having difficult-to-treat disease and poor prognostic factors. Median overall survival ranged from 21.5 to 25.4 months across different patient groups. The company plans to begin a Phase 3 trial in June 2026.

Separately, the company posted a loss of $0.14 per share, compared to consensus estimates of a loss of $0.33 per share, according to Fiscal.ai data.

CADL Bulls Bet On Positive Data

Retail sentiment trended in the ‘bullish’ territory on Stocktwits, while message volumes remained ‘high’ over a 24-hour period.

One user said if the follow-up data readout is positive, the stock could run past $12. It is currently trading at around $9.

Another user expects Friday to be “epic” for the company.

The stock has gained around 47% so far this year.

Read also: CRMD Stock Soared 18% Today – Here’s What Fueled CorMedix’s Triple-Digit Q1 Revenue Surge

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