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MARKETS / NASDAQ / CADL
NASDAQ · BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES)

Candel Therapeutics, Inc. CADL

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$-38.2M
$-38.9M
In brief

What this company does

We have established two clinical off-the-shelf viral immunotherapy platforms based on novel, genetically modified adenovirus and herpes simplex virus (HSV) constructs, respectively. The FDA granted Fast Track Designation for the use of aglatimagene for the treatment of localized, primary prostate cancer in combination with radiation therapy to improve the local control rate. In April 2023, we announced that the FDA granted Fast Track Designation for aglatimagene plus valacyclovir in combination with pembrolizumab in order to improve survival or delay progression in patients with unresectable stage III or stage IV NSCLC, who are resistant to first line PD-(L)1 inhibitor therapy and who do not have activating molecular driver mutations or have progressed on directed molecular therapy.

Written from the business description in Candel Therapeutics, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2022 · Revenue 0.1 · Net income -18.8
-20M202020212022202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
Operating margin Net margin
FY2022 · Operating -27777.6% · Net -15035.2%
-10000%-20000%202020212022202320242025
ROE
FY2025 · ROE -64.6%
-50%-100%-150%202020212022202320242025

Each USD of equity lost 65 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -38.9
-20M202020212022202320242025

Total assetsUSD 125.2M
EquityUSD 51.9M
CashUSD 119.7M
Gross debtUSD 0.00
Net debtUSD -119.7M
Current ratio13.49×

The company holds more cash than debt.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020
Revenue $B···0.00.00.0
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.00.00.00.00.0·
Net income $B−0.0−0.1−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−0.72−1.74−1.31−0.65−1.91−1.52
Dividend / sh $······
Payout %······
ROE %−64.6−139.6−125.5−33.6−178.1·
Shares out B0.050.050.030.030.030.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 24 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 52 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityBiological Products, (No Diagnostic Substances)
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2020

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