Garrett Nichols
About Garrett Nichols
W. Garrett Nichols, M.D., M.S., is Chief Medical Officer (CMO) of Candel Therapeutics, appointed effective September 12, 2022; he is 56 years old and holds an M.D. from Duke University, an M.S. in Epidemiology/Biostatistics from the University of Washington, and a B.A. from the University of Virginia . During his tenure, he has been a visible driver of clinical execution for CAN-2409, including FDA Orphan Drug Designation in pancreatic cancer and positive survival updates in pancreatic and lung programs, reflecting operational value creation in R&D milestones . Candel is an emerging growth company and does not provide say-on-pay votes; executive compensation disclosures are scaled to named executive officers, so company-level TSR, revenue, and EBITDA metrics tied to Nichols’s pay are not disclosed in the proxy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GlaxoSmithKline (GSK) | Vice President, Clinical Development; Medicine Development Leader (Dolutegravir) | Dec 2008 – Apr 2014 | Led late-stage development and global submissions culminating in approvals for Tivicay and fixed-dose combo Triumeq via ViiV/GSK programs |
| ViiV Healthcare, LTD | Head of Global Development | Apr 2014 – Sep 2014 | Oversaw HIV portfolio development; bridged to commercial approvals (Tivicay/Triumeq) |
| Chimerix, Inc. | Chief Medical Officer | Sep 2014 – Apr 2020 | Led TEMBEXA development for smallpox through approval |
| Istari Oncology, Inc. | Chief Medical Officer | Apr 2020 – present (concurrent) | Advanced oncolytic viral immunotherapy programs; continued external leadership |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Istari Oncology, Inc. | Chief Medical Officer | Apr 2020 – present | Contributes external clinical leadership in oncolytic viral immunotherapy |
Equity Ownership & Alignment
| Metric (as of April 21, 2025) | Value |
|---|---|
| Common shares owned | 52,493 |
| Options exercisable within 60 days | 82,635 |
| Ownership % of outstanding shares | <1% |
- Insider trading policy prohibits short sales and derivative hedging; highlights margin/pledging risks, though a specific pledging prohibition is not stated in the proxy .
- No formal executive equity ownership guidelines; the company emphasizes equity grants for alignment but does not mandate ownership multiples .
Rule 10b5-1 Trading Plan Activity (Selling Pressure Indicator)
| Action | Date | Plan Size | Shares Sold Under Plan |
|---|---|---|---|
| Plan adopted | Nov 22, 2024 | Up to 49,848 shares | — |
| Plan terminated | Aug 15, 2025 | — | 47,034 shares sold as of termination |
Employment Terms
- Appointment and tenure: Board appointed Nichols as CMO on September 5, 2022, effective September 12, 2022 .
- Employment agreement/severance: The 9/7/2022 8-K disclosed CFO terms but did not include specific employment agreement terms for Nichols; the proxy notes executive employment agreements exist for named executive officers, but Nichols’s specific severance/change-of-control terms are not disclosed in the proxy .
- Equity incentive framework: Company plans (2015 and 2021) govern options/RSUs; options typically carry four-year vesting and 10-year terms, with 2021 Plan share reserves and availability disclosed (plan-level, not individual) .
Performance & Track Record
- Pancreatic cancer (PDAC): Final randomized Phase 2 data showed median OS 31.4 months with CAN-2409 + SoC vs. 12.5 months control; long-tail survivors observed; Nichols emphasized in-situ vaccination and sustained benefit .
- NSCLC: Company reported prolonged median OS and a “long tail” in checkpoint inhibitor–resistant NSCLC; Nichols highlighted comparative tolerability and potential superiority vs. docetaxel .
- Regulatory designations: FDA Orphan Drug Designation (Apr 2024) and Fast Track (Dec 2023) for CAN-2409 in PDAC; EMA Orphan Designation (Jul 2025); Nichols cited tumor microenvironment remodeling to “hot” immune phenotype .
Investment Implications
- Alignment: Nichols holds common shares and exercisable options, though ownership is <1% of outstanding, so alignment exists but is modest at the company level . The absence of formal executive ownership guidelines reduces forced accumulation, but policy-level clawbacks and hedging prohibitions support governance alignment .
- Selling pressure: A Rule 10b5-1 plan facilitated sales of ~47K shares through Aug 2025 and has been terminated, potentially reducing near-term systematic selling; watch for any new plans in future filings .
- Retention risk: Concurrent CMO role at Istari could represent time-allocation risk; lack of disclosed severance/CIC specifics for Nichols limits visibility into retention economics compared to peers disclosed in the proxy .
- Execution signal: Nichols’s public leadership around positive survival data and regulatory milestones in CAN-2409 supports confidence in clinical strategy and potential value creation catalysts in PDAC and NSCLC programs .