Our Stock of the Week is Candel Therapeutics (CADL). Candel is a clinical-stage biopharmaceutical company developing off-the-shelf immunotherapies for cancer, with its lead candidate aglatimagene besadenovec (CAN-2409) which has already posted positive Phase 3 results in localized prostate cancer and is set for a Biologics License Application to the FDA in the fourth quarter of 2026. The company also has an ongoing Phase 1b program in high-grade glioma and is preparing to start a pivotal Phase 3 trial in non-small cell lung cancer in June.
CADL hit traders’ radar screens on April 29th when the company announced a commercialization agreement with EVERSANA to support a potential U.S. launch of aglatimagene, suggesting that the company is building out commercial infrastructure ahead of an anticipated approval. The stock has been making stair-step progress since, helped along in mid-May by extended follow-up data presented at the American Urological Association meeting, which confirmed a 39% improvement in prostate cancer-specific disease-free survival versus placebo, and a Q1 report showing a loss of $0.14 per share (vs. est. a loss of $0.32) and a cash position of $194.8 million funding operations into 2028.
On July 13, meanwhile, Stifel initiated coverage with a Buy rating and a $22 price target, calling aglatimagene a differentiated and versatile therapy whose registrational data “clearly establishes” its superiority. Across the six analysts covering the stock, price targets average $20.17, ranging from $9 to $26.
Technically, shares have been forming a near-term descending triangle over the past few weeks and could be building cause for additional upside ahead of the BLA submission later this year. As always, we will not chase any early strength on Monday morning, but will look to aggressively trade the stock as the chart develops.
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This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing positions in CADL at the time this was published. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.
