Candel Therapeutics

Canaccord Genuity Acted as a Joint Bookrunner to Candel Therapeutics on its Confidentially Marketed Public Offering of $92 Million

Canaccord Genuity is pleased to announce its client, Candel Therapeutics, Inc. (NASDAQ: CADL), a clinical-stage biopharmaceutical company developing viral immunotherapies, closed its previously announced underwritten public offering of 12,000,001 shares of its common stock at a price to the public of $6.00 per share and pre-funded warrants to purchase up to an aggregate of 3,333,333 shares of its common stock at a price to the public of $5.99 per pre-funded warrant to purchase one share of the common stock, which represents the per share public offering price for the common stock less the $0.01 per share exercise price for each such pre-funded warrant. The offering resulted in gross proceeds of approximately $92 million, before deducting underwriting discounts and commissions and other offering expenses. 12,000,001 shares of common stock sold in the offering include 2,000,000 shares sold pursuant to the full exercise of the underwriters’ option to purchase up to 2,000,000 additional shares of common stock at the public offering price, less the underwriting discount.

Canaccord Genuity acted as a joint bookrunner for the offering.

Candel is a clinical stage biopharmaceutical company focused on developing off-the-shelf multimodal biological immunotherapies that elicit an individualized, systemic anti-tumor immune response to help patients fight cancer. Candel has established two clinical stage multimodal biological immunotherapy platforms based on novel, genetically modified adenovirus and herpes simplex virus gene constructs, respectively. CAN-2409 is the lead product candidate from the adenovirus platform and is currently in ongoing clinical trials in non-small cell lung cancer (Phase 2) and borderline resectable pancreatic ductal adenocarcinoma (Phase 2), and recently completed Phase 2b and Phase 3 clinical trials in localized, non-metastatic prostate cancer. CAN-3110 is the lead product candidate from the HSV platform and is currently in an ongoing Phase 1b clinical trial in recurrent high-grade glioma. Finally, Candel’s enLIGHTEN™ Discovery Platform is a systematic, iterative HSV-based discovery platform leveraging human biology and advanced analytics to create new viral immunotherapies for solid tumors.