Canaccord Genuity maintains Candel Therapeutics at Buy, lowers price target to $13 from $25

Candel Therapeutics (CADL) stock fell 36.7% to $5.31 in pre-market trading after delaying its Biologics License Application submission for aglatimagene besadenovec to mid-2027, citing FDA discussions and assay refinement. The company reported a Q3 2026 net loss of $21.9 million, nearly double the previous year's loss, and announced a $50 million stock sale agreement. Analysts reduced price targets, with Stifel cutting to $19 and Canaccord to $13, both maintaining Buy ratings.

Candel Therapeutics (CADL) shares dropped 35% premarket after delaying its BLA submission for aglatimagene besadenovec to mid-2027. The company cited assay refinements and FDA discussions. Q3 net loss widened to $21.9M. Stifel cut its price target to $19. Candel has $203.1M in cash, expected to last into Q2 2028.

Candel Therapeutics (CADL) reported a wider Q3 2026 net loss of $21.9M, up from $11.3M a year ago, due to increased R&D and G&A expenses. The company plans to submit a BLA for aglatimagene in localized prostate cancer in mid-2027, pending FDA discussions. Cash reserves total $203.1M, expected to last into Q2 2028. Clinical updates include positive Phase 2 and 3 data for aglatimagene in prostate cancer and NSCLC, and ongoing Phase 3 AURORA trial.

Candel Therapeutics (CADL) stock fell 38% after-hours after pushing back its FDA application for prostate cancer treatment to mid-2027. The company reported $203.1M in cash, expected to last until Q2 2028. Retail traders on Stocktwits remained bullish, with some suggesting the selloff could make the stock more attractive. CADL is up 48.5% year-to-date, according to the article.

Candel Therapeutics, Inc. (CADL) filed an SEC Form 8-K — Other Events. Item 8.01 Other Events. On November 12, 2026, Candel Therapeutics, Inc. (the “Company”) entered into a Second Amended and Restated Open Market Sale Agreement SM (the “2026 Sales Agreement”), with Jefferies LLC (“Jefferies”), to sell shares of the Company’s common stock, par value

Candel Therapeutics reported a Q3 2026 net loss of $21.9M, up from $11.3M a year earlier. Cash reserves were $203.1M, expected to last until Q2 2028. R&D and G&A expenses increased. The company made clinical and regulatory progress in cancer immunotherapy programs, including FDA discussions for aglatimagene in prostate cancer.