Candel Therapeutics announces pricing of $100 million public offering

Last week, USA-based biotech Candel Therapeutics (Nasdaq: CADL), which is focused on developing multimodal biological immunotherapies to help patients fight cancer, announced the pricing of an underwritten public offering of 18,348,624 shares of its common stock at a price to the public of $5.45 per share.

The clinical-stage biopharmaceutical company said the offering is expected to generate gross proceeds of about $100 million, before deducting underwriting discounts, commissions and other expenses. The transaction is expected to close on or about February 23, 2026, subject to customary closing conditions. In addition, Candel has granted the underwriters a 30-day option to purchase up to 2,752,293 additional shares of its common stock at the public offering price, less the underwriting discount.