Candel Therapeutics Prices $100M Public Offering
Analysis based on 10 articles · First reported Feb 19, 2026 · Last updated Feb 20, 2026
The public offering by Candel Therapeutics is expected to provide significant capital, which could positively impact its stock price and allow for continued development of its cancer immunotherapies. The involvement of several financial institutions as underwriters suggests market confidence in the offering.
Candel Therapeutics, Inc. announced the pricing of an underwritten public offering of 18,348,624 shares of its common stock at $5.45 per share, aiming to raise $100 million in gross proceeds. The offering is expected to close around February 23, 2026. Candel Therapeutics plans to use the net proceeds to fund critical launch readiness, medical affairs, pre-commercialization, and commercial activities for aglatimagene besadenovec in early, localized prostate cancer. Additionally, funds will support ongoing development costs for the phase 3 trial of aglatimagene in non-small cell lung cancer and general corporate purposes. Citigroup, Cantor Fitzgerald, and Stifel are acting as joint bookrunning managers, with LifeSci Capital as lead manager, and H.C. Wainwright & Co. and Brookline Capital Markets (a division of Arcadia Securities) as co-managers. The offering is being made under a shelf registration statement filed with the United States===United States Securities and Exchange Commission.
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