Candel Therapeutics prices $100M public offering

The clinical-stage biopharmaceutical institution said the offering is expected to make gross proceeds of astir $100 million, earlier deducting underwriting discounts, commissions and different expenses. The transaction is expected to adjacent connected oregon astir February 23, 2026, taxable to customary closing conditions.

In addition, Candel has granted the underwriters a 30-day enactment to acquisition up to astir 2.75 cardinal further shares astatine the nationalist offering price, little the underwriting discount.

Candel said it plans to usage the nett proceeds to enactment motorboat readiness, aesculapian affairs, pre-commercialization and commercialized activities for aglatimagene besadenovec (CAN-2409) successful early, localized prostate cancer.

Proceeds volition besides money ongoing improvement costs related to the Phase 3 proceedings of aglatimagene successful non-small compartment lung crab (NSCLC), arsenic good arsenic wide firm purposes.

Citigroup, Cantor and Stifel are acting arsenic associated bookrunning managers for the offering. LifeSci Capital is serving arsenic pb manager, portion H.C. Wainwright & Co. and Brookline Capital Markets, a part of Arcadia Securities, LLC, are acting arsenic co-managers.