24/7 Market News Snapshot 11 December, 2024 – Candel Therapeutics, Inc. Common Stock (NASDAQ:CADL)

December 11, 2024

DENVER, Colo., 11 December, 2024 (247marketnews.com) – (NASDAQ:CADL) are discussed in this article.
Candel Therapeutics, Inc. (CADL) is experiencing significant momentum in the market, with pre-market trading reflecting a remarkable increase of approximately 158.92%, elevating its stock price to $11.936 from the previous close of $4.610. Trading volume reached an impressive 4.94 million shares, underscoring growing investor enthusiasm and positive sentiment regarding the company’s recent developments. Analysts suggest that factors such as successful trial results and strategic advancements may have catalyzed this surge, prompting observers to anticipate a potential new phase of growth for Candel Therapeutics.

In a landmark achievement, the company has successfully completed its phase 3 clinical trial of CAN-2409, a pioneering viral immunotherapy intended for patients with intermediate-to-high risk localized prostate cancer. The trial, which involved 745 participants, met its primary endpoint, showing a statistically significant improvement in disease-free survival when CAN-2409 was administered alongside standard radiotherapy, compared to radiotherapy alone. Specifically, the treatment group displayed a relative improvement of 14.5% in disease-free survival at 54 months, with a hazard ratio of 0.7 (p=0.0155).

Furthermore, CAN-2409 demonstrated notable efficacy in achieving prostate-specific antigen (PSA) reduction, with 67.1% of patients in the treatment cohort achieving a PSA nadir of less than 0.2 ng/ml, in contrast to 58.6% in the control group. CAN-2409 employs a replication-defective adenovirus mechanism to effectively deliver the herpes simplex virus thymidine kinase gene directly to tumor cells, engendering both targeted cancer cell destruction and a robust systemic immune response.

Dr. Glen Gejerman, Co-Director of Urologic Oncology, emphasized the trial’s significance, heralding it as a pivotal advancement for localized prostate cancer treatment. Following these encouraging results, Candel Therapeutics is poised to engage with regulatory authorities to explore potential pathways for approval, reinforcing its commitment to enhancing treatment options in oncology through innovative therapeutic solutions. Further details and data from the trial are expected to be presented at upcoming medical conferences, showcasing Candel’s dedication to ongoing research and development in this critical area.

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