What's Going On With Candel Therapeutics Stock On Friday?

Author: Vandana Singh | April 05, 2024 09:22am

Friday, Candel Therapeutics Inc (NASDAQ:CADL) shares are trading higher on heavy volume with a session volume of 7.89 million versus the average volume of 2.37 million, as per data from Benzinga Pro.

Candel Therapeutics shares are trading higher on continued strength after the company announced interim data from the randomized phase 2 clinical trial of CAN-2409 in non-metastatic pancreatic cancer on Thursday.

Prolonged and sustained survival was observed after experimental treatment with CAN-2409 in patients with borderline resectable pancreatic ductal adenocarcinoma (n=13).

The estimated median overall survival was 28.8 months in the CAN-2409 group versus only 12.5 months in the control group.

 At 24 months, a survival rate of 71.4% was observed in CAN-2409 treated patients after SoC chemoradiation and before surgery, versus only 16.7% in the control group. 

 At 36 months, a survival rate of 47.6% was estimated in patients who received CAN-2409, together with SoC chemoradiation before surgery, versus only 16.7% in the control group.

On Monday, the company announced the presentation of updated data from an ongoing phase 1b trial of its herpes simplex virus-1 (HSV-1) replication-competent viral immunotherapy candidate, CAN-3110, in patients with recurrent high-grade glioma (rHGG) recurred after standard of care (SoC) treatment. 

The investigators observed a nearly doubling of the expected median overall survival (mOS) after a single CAN-3110 injection, achieving a mOS of ~12 months, compared to historical reports of less than 6 to 9 months in this therapy-resistant condition. 

Candel Therapeutics CEO Paul Peter Tak, MD featured on Benzinga’s premarket prep show to talk about the latest developments in the company.

Price Action: CADL shares are up 15.20% at $7.37 during the premarket session on the last check Friday.

Posted In: CADL