“The increase was primarily attributable to a $3.6 million increase in clinical development costs driven by increased clinical trial, manufacturing and regulatory costs for aglatimagene programs, and a $2.0 million increase in employee-related expenses.”10-Q · May 14, 2026 ↗
Candel Therapeutics, Inc.
CADL
Market read
Candel Therapeutics, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 10 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- CADL's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if CADL's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 10 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- CADL's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Net margin changed +13864.0 percentage points in the latest annual period.
- Operating margin changed -7196.8 percentage points in the latest annual period.
- Product pipeline and R&D has repeated adverse evidence across 3 filings.
- EV/sales is 16821% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
10.55Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Income Taxes Since our inception, we have generated cumulative federal and state net operating loss and research and development credit carryforwards for which we have not recorded any net tax benefit due to uncertainty around utilizing these tax attributes w…”10-Q · May 14, 2026 ↗
“The increase was primarily attributable to a $4.2 million increase in clinical development costs driven by increased manufacturing and regulatory costs for CAN-2409 programs and a $0.4 million increase in depreciation, impairment and loss on the sale and disp…”10-Q · Nov 13, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 2431.5× · EV/sales 1871.1×. Comparisons use only industry-matched filing peers.
Fewer than 4 annual revenue periods; too little history to scaffold scenarios.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for CADL. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for CADL. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind CADL
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
AZNAstraZeneca PLCcompetitorMar 12, 2026 ▾
“The large pharmaceutical and biotechnology companies that have commercialized and/or are developing immuno-oncology treatments for cancer include AstraZeneca, Bristol-Myers Squibb, Gilead Sciences, Merck & Co., Novartis, Pfizer, Genentech, and Johnson & Johns…”
REPLReplimune Group, Inc.competitorMar 12, 2026 ▾
“We are aware that Replimune Group, Inc., Amgen Inc., Astellas Pharma, Inc, Istari Oncology Inc, Orca Therapeutics, B.V., CG Oncology, Inc, ImmVira Co., Ltd., IconOVir Bio, Inc., and FerGene, Inc., among others, are developing viral immunotherapies that may ha…”
TRINTrinity Capital Inc.lenderMay 14, 2026 ▾
“On October 14, 2025, we entered into a Loan and Security Agreement, as amended by that certain First Amendment to Loan and Security Agreement dated as of March 10, 2026 (the Trinity LSA), with the lenders party thereto (the Lenders) and Trinity Capital Inc.,…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
CADL is currently a Follower in the organic co-movement group Water & Tech Solutions. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for CADL; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.