Candel Therapeutics Launches 150-Site Phase 3 NSCLC Trial, Shares Jump 9%
CADL•Shares of Candel Therapeutics jumped 9% after the company launched its global Phase 3 Aurora trial of CAN-2409 in advanced NSCLC across 150+ sites, building on positive prostate cancer data showing 30% improvement in disease-free survival. The company ended Q2 with $194.8M cash, funding operations into Q1 2028.
1. Global Phase 3 Aurora Trial Launch
Candel Therapeutics initiated its global Phase 3 Aurora trial of Aglatimagene Besadenovec (CAN-2409) in advanced NSCLC patients who progressed after Pembrolizumab and platinum chemotherapy. The open-label study will enroll participants at over 150 sites worldwide, comparing CAN-2409 plus Valacyclovir and ongoing Pembrolizumab against Docetaxel, with overall survival as the primary endpoint and safety and quality of life as secondary measures.
2. Prostate Cancer Data Boosts Clinical Profile
Positive Phase 3 results in localized prostate cancer showed a 30% improvement in disease-free survival when CAN-2409 was added to standard radiotherapy. These findings support Candel's planned Biologics License Application submission in Q4 2026.
3. Cash Runway and Financial Outlook
The company reported $194.8 million in cash and equivalents at quarter end, providing a runway into Q1 2028. This funding is expected to support the Aurora trial and other pipeline activities through key clinical milestones.
4. Retail Sentiment Turns Extremely Bullish
Shares rose 9% on the trial launch, reaching a 16-month high and marking the largest monthly gain since December 2024. Retail sentiment turned extremely bullish, reflecting heightened investor optimism about upcoming trial data and long-term growth prospects.
