Candel Therapeutics Shares Are Down Today: What's Going On?

Candel Therapeutics, Inc. CADL shares are are trading lower Thursday after the company released final survival data from its phase 2a clinical trial of CAN-2409.

What To Know: The trial involved patients with stage III/IV non-small cell lung cancer (NSCLC) who had inadequate responses to immune checkpoint inhibitor (ICI) treatment.

The median overall survival (mOS) was reported at 24.5 months in 46 patients who received two courses of CAN-2409.

Among 41 patients with progressive disease at baseline despite ICI treatment, the mOS was 21.5 months, compared to the 9.8–11.8 months typically seen with standard-of-care docetaxel chemotherapy.

The company also reported a long tail of survival, with 37% of patients with progressive disease still alive two years after treatment. An abscopal effect, where uninjected tumors showed signs of regression, was observed in approximately two-thirds of patients with metastatic disease. Patients with non-squamous NSCLC saw better outcomes, with a mOS of 25.4 months.

Despite the positive data, the stock is falling. Candel Therapeutics has indicated plans for further trials to potentially support regulatory approval.

CADL Price Action: Candel shares were down 6.67% at $7 at the time of writing, according to Benzinga Pro.

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