- Candel Therapeutics, Inc. secured a **five-year, $130 million term loan facility** with Trinity Capital Inc. on **October 14, 2025**, with **$50 million drawn at closing** and an additional **$80 million available** in tranches subject to milestones.  **[1841387_0001193125-25-238254_cadl-ex99_1.htm:1]** **[1841387_0001193125-25-238254_cadl-20251014.htm:1]** 
- The loan has an **initial interest rate of 10.25% per annum** and includes a **36-month interest-only period**.  **[1841387_0001193125-25-238254_cadl-ex99_1.htm:1]** **[1841387_0001193125-25-238254_cadl-20251014.htm:1]** 
- This financing, combined with **$87.2 million in cash and cash equivalents as of September 30, 2025**, is intended to strengthen the balance sheet and fund a **phase 3 clinical trial of CAN-2409 in non-small cell lung cancer** in Q2 2026, and support a potential launch in early localized prostate cancer.  **[1841387_0001193125-25-238254_cadl-ex99_1.htm:1]** **[1841387_0001193125-25-238254_cadl-20251014.htm:4]** 
- Additionally, the expiration date of existing warrants was extended to **September 30, 2027**.  **[1841387_0001193125-25-238254_cadl-ex10_2.htm:1]** **[1841387_0001193125-25-238254_cadl-20251014.htm:4]**

Candel Therapeutics Enters $130 Million Term Loan Facility

- Candel Therapeutics announced **encouraging interim data** from its phase 1b clinical trial of **CAN-3110** (linoserpaturev) in recurrent glioblastoma and a publication in *Science Translational Medicine* on October 14, 2025.  **[1841387_4729918fefa6446abbe85355691075b5_0]** 
- The study revealed that CAN-3110 induced dynamic remodeling of the tumor microenvironment, with one patient achieving a **complete pathological response**.  **[1841387_4729918fefa6446abbe85355691075b5_0]** 
- Updated median overall survival (mOS) for patients receiving a single injection of CAN-3110 was **11.8 months** for arm A (n=41) and **12.0 months** for arm B (n=9), significantly exceeding the historical benchmark of less than 6 to 9 months.  **[1841387_4729918fefa6446abbe85355691075b5_1]** 
- In arm C, where patients received multiple injections, **4 out of 9 patients were alive** at the August 15, 2025 data cutoff.  **[1841387_4729918fefa6446abbe85355691075b5_1]** 
- Candel plans to design a **small phase 2 clinical trial** for CAN-3110, which has **FDA Fast Track Designation and Orphan Drug Designation** for recurrent high-grade glioma.  **[1841387_4729918fefa6446abbe85355691075b5_2]** **[1841387_4729918fefa6446abbe85355691075b5_3]**

Candel Therapeutics Announces Positive Interim CAN-3110 Data and Publication

- Candel Therapeutics is preparing for Biologics License Application (BLA) submission for **CAN-2409** in newly diagnosed localized prostate cancer, targeting **Q4 2026**, following positive pivotal Phase 3 data.  **[1841387_tx_380781_0]** **[1841387_tx_380781_4]** 
- The company reported over **$100 million** in cash at the end of Q2 2025, providing funding for operations into **Q1 2027**, which covers the BLA submission for the prostate cancer program.  **[1841387_tx_380781_9]** 
- Candel is also advancing **CAN-2409** in non-small cell lung cancer (NSCLC) and pancreatic cancer, with a pivotal Phase 3 trial for NSCLC planned to begin in **Q2 2026** pending non-dilutive funding.  **[1841387_tx_380781_0]** **[1841387_tx_380781_6]** **[1841387_tx_380781_7]** 
- The **CAN-3110** program for recurrent glioblastoma has shown encouraging data, including a doubling of expected median overall survival after a single injection, and a potentially registrational Phase 2 trial is being prepared.  **[1841387_tx_380781_0]** **[1841387_tx_380781_9]**

Candel Therapeutics (CADL)