Candel Therapeutics rises after $15 million direct stock deal

ReutersJun 24, 2025 3:33 PM

Drug developer Candel Therapeutics' CADL.O shares jump 5.4% to $4.92

CADL agrees to sell 3.2 million shares at $4.67 apiece in registered direct offering for gross proceeds of $15 million

Stock closed down 1.7% at $4.67 on Monday

Existing institutional investors and CADL executives took part in the offering

Proceeds will be used to support pre-commercialization and launch readiness activities for CAN-2409, its prostate cancer therapy

All 4 brokerages covering stock rate "buy" or higher; median PT $22 - data compiled by LSEG

As of last close, CADL stock down 46.2% YTD

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