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Candel Therapeutics, Inc.(CADL)Earnings, Financials & Key Ratios
CADL•NASDAQ
$7.79
$429M mkt cap·Price updated May 7, 2026
AboutCandel Therapeutics, Inc., a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. The company develops CAN-2409, which is in Phase II clinical trails for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma. It also develops CAN-3110, which is in Phase I clinical trials for the treatment of recurrent glioblastoma. The company was formerly known as Advantagene, Inc. and changed its name to Candel Therapeutics, Inc. in November 2020. The company was incorporated in 2003 and is based in Needham, Massachusetts.Show more
- Revenue$0
- EBITDA-$48M-49.1%
- Net Income$0+100.0%
- EPS (Diluted)-0.72+58.6%
- Debt/Equity0.04-81.9%
CADL Key Insights
Candel Therapeutics, Inc. (CADL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Trading near 52-week high
✗Weaknesses
- ✗Weak Piotroski F-Score: 2/9
- ✗Shares diluted 67.2% in last year
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
CADL Price & Volume
Candel Therapeutics, Inc. (CADL) stock price & volume — 10-year historical chart
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CADL Growth Metrics
Candel Therapeutics, Inc. (CADL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM84.26%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM64.97%
Return on Capital
10 Years-48.85%
5 Years-57.25%
3 Years-66.05%
Last Year-52.03%
CADL Recent Earnings
Candel Therapeutics, Inc. (CADL) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (33%)
Q2 2026Latest
Mar 12, 2026EPS
$0.54
Est $0.24
-125.0%
Revenue
—
Q4 2025
Nov 13, 2025EPS
$0.21
Est $0.17
-23.5%
Revenue
—
Q3 2025
Aug 14, 2025EPS
$0.09
Est $0.17
+47.1%
Revenue
—
Q2 2025
May 13, 2025EPS
$0.13
Est $0.24
+154.2%
Revenue
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 12, 2026 | $0.54vs $0.24-125.0% | — |
| Q4 2025 | Nov 13, 2025 | $0.21vs $0.17-23.5% | — |
| Q3 2025 | Aug 14, 2025 | $0.09vs $0.17+47.1% | — |
| Q2 2025 | May 13, 2025 | $0.13vs $0.24+154.2% | — |
Based on last 12 quarters of dataView full earnings history →
CADL Peer Comparison
Candel Therapeutics, Inc. (CADL) competitors in Cell and Gene Therapy Developers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 IMVT | 5.53B | 27.22 | -9.97 | -47.07% | 0.00 | |||
 IMCR | 1.55B | 30.62 | -57.77 | 20% | -4.88% | -4.83% | 0.11 | |
 IOVA | 1.27B | 3.55 | -3.26 | 60.6% | -123.9% | -50.17% | 0.07 | |
 FATE | 280.32M | 2.43 | -2.11 | -51.24% | -20.51% | -65.79% | 0.38 | |
 NKTR | 1.69B | 83.37 | -8.57 | -43.89% | -297.07% | -399.1% | 1.66 | |
 ADCT | 478.24M | 3.76 | -3.36 | 14.85% | -173.02% | |||
 CLDX | 2.22B | 33.32 | -8.54 | -78.63% | -172.53% | -41.68% | 0.00 | |
 NVAX | 1.5B | 9.23 | 3.63 | 64.69% | -14.73% |
Compare CADL vs Peers
Candel Therapeutics, Inc. (CADL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CADL Income Statement
Candel Therapeutics, Inc. (CADL) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 125K | 125K | 125K | 125K | 0 | 0 | 0 |
| Revenue Growth % | - | 0% | 0% | 0% | -100% | - | - |
| Cost of Goods Sold | 6.61M | 0 | 14.59M | 0 | 23.98M | 990K | 0 |
| COGS % of Revenue | 5285.6% | - | 11675.2% | - | - | - | - |
| Gross Profit | -6.48M▲ 0% | 125K▲ 101.9% | -14.47M▼ 11675.2% | 125K▲ 100.9% | -23.98M▼ 19284.0% | -990K▲ 95.9% | 0▲ 100.0% |
| Gross Margin % | -5185.6% | 100% | -11575.2% | 100% | - | - | - |
| Gross Profit Growth % | - | 101.93% | -11675.2% | 100.86% | -19284% | 95.87% | 100% |
| Operating Expenses | 2.56M | 13.94M | 11.26M | 34.85M | 14.41M | 32.38M | 48.27M |
| OpEx % of Revenue | 2044% | 11148% | 9005.6% | 27877.6% | - | - | - |
| Selling, General & Admin | 2.56M | 5.99M | 11.26M | 14.06M | 14.41M | 14.06M | 17.77M |
| SG&A % of Revenue | 2044% | 4794.4% | 9005.6% | 11248% | - | - | - |
| Research & Development | 6.61M | 8.75M | 15.18M | 20.79M | 24.51M | 19.31M | 30.5M |
| R&D % of Revenue | 5285.6% | 7003.2% | 12142.4% | 16629.6% | - | - | - |
| Other Operating Expenses | -6.61M | -812K | -15.18M | 0 | -24.51M | -990K | 0 |
| Operating Income | -9.04M▲ 0% | -13.81M▼ 52.8% | -25.73M▼ 86.3% | -34.72M▼ 35.0% | -38.39M▼ 10.6% | -33.37M▲ 13.1% | -48.27M▼ 44.6% |
| Operating Margin % | -7229.6% | -11048% | -20580.8% | -27777.6% | - | - | - |
| Operating Income Growth % | - | -52.82% | -86.29% | -34.97% | -10.57% | 13.08% | -44.63% |
| EBITDA | -8.99M | -13.72M | -25.49M | -33.94M | -37.43M | -32.38M | -48.27M |
| EBITDA Margin % | -7195.2% | -10975.2% | -20395.2% | -27155.2% | - | - | - |
| EBITDA Growth % | - | -52.53% | -85.83% | -33.15% | -10.27% | 13.49% | -49.06% |
| D&A (Non-Cash Add-back) | 43K | 91K | 232K | 778K | 960K | 990K | 0 |
| EBIT | -9.04M | -13.81M | -25.73M | -17.09M | -38.39M | -53.09M | 0 |
| Net Interest Income | 1.07M | 111K | -53K | -490K | -514K | -1M | 0 |
| Interest Income | 1.07M | 111K | 0 | 1.22M | 0 | 1.09M | 3.92M |
| Interest Expense | 0 | 0 | 53K | 1.71M | 514K | 2.09M | -2.12M |
| Other Income/Expense | 797K | -3.87M | -10.4M | 15.93M | 452K | -21.81M | 0 |
| Pretax Income | -8.24M▲ 0% | -17.68M▼ 114.6% | -36.12M▼ 104.3% | -18.79M▲ 48.0% | -37.94M▼ 101.9% | -55.18M▼ 45.4% | 0▲ 100.0% |
| Pretax Margin % | -6592% | -14144% | -28899.2% | -15035.2% | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | - |
| Net Income | -8.24M▲ 0% | -17.68M▼ 114.6% | -36.12M▼ 104.3% | -18.79M▲ 48.0% | -37.94M▼ 101.9% | -55.18M▼ 45.4% | 0▲ 100.0% |
| Net Margin % | -6592% | -14144% | -28899.2% | -15035.2% | - | - | - |
| Net Income Growth % | - | -114.56% | -104.32% | 47.97% | -101.87% | -45.44% | 100% |
| Net Income (Continuing) | -8.24M | -17.68M | -36.12M | -18.79M | -37.94M | -55.18M | 0 |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.43▲ 0% | -1.18▼ 174.4% | -1.26▼ 6.8% | -0.10▲ 92.1% | -1.31▼ 1217.9% | -1.74▼ 32.8% | -0.72▲ 58.6% |
| EPS Growth % | - | -174.42% | -6.78% | 92.11% | -1217.91% | -32.82% | 58.62% |
| EPS (Basic) | -0.43 | -1.18 | -1.26 | -0.10 | -1.31 | -1.74 | -0.72 |
| Diluted Shares Outstanding | 18.71M | 18.71M | 28.69M | 28.82M | 28.94M | 31.68M | 52.96M |
| Basic Shares Outstanding | 18.71M | 18.71M | 28.69M | 28.82M | 28.94M | 31.68M | 52.96M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
CADL Balance Sheet
Candel Therapeutics, Inc. (CADL) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 45.21M | 35.15M | 84.94M | 71.94M | 36.8M | 103.8M | 119.73M |
| Cash & Short-Term Investments | 45.06M | 35.05M | 82.64M | 70.06M | 35.41M | 102.65M | 119.73M |
| Cash Only | 5.18M | 35.05M | 82.64M | 70.06M | 35.41M | 102.65M | 119.73M |
| Short-Term Investments | 39.88M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 2.3M | 1.89M | 1.38M | 0 | 0 |
| Total Non-Current Assets | 691K | 3.14M | 4.26M | 6.57M | 4.4M | 3.06M | 5.46M |
| Property, Plant & Equipment | 425K | 2.79M | 3.84M | 5.48M | 4.02M | 2.73M | 0 |
| Fixed Asset Turnover | 0.29x | 0.04x | 0.03x | 0.02x | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 266K | 0 | 424K | 266K | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 349K | 0 | 0 | 382K | 329K | 5.46M |
| Total Assets | 45.9M▲ 0% | 38.28M▼ 16.6% | 89.2M▲ 133.0% | 78.52M▼ 12.0% | 41.2M▼ 47.5% | 106.87M▲ 159.4% | 125.19M▲ 17.2% |
| Asset Turnover | 0.00x | 0.00x | 0.00x | 0.00x | - | - | - |
| Asset Growth % | - | -16.6% | 133.02% | -11.98% | -47.53% | 159.38% | 17.15% |
| Total Current Liabilities | 1.41M | 4.71M | 5.36M | 5.62M | 14.18M | 37.53M | 9M |
| Accounts Payable | 218K | 921K | 1.59M | 380K | 422K | 237K | 0 |
| Days Payables Outstanding | 12.04 | - | 39.77 | - | 6.42 | 87.38 | - |
| Short-Term Debt | 0 | 463K | 0 | 464K | 8.89M | 9.89M | 445K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 615K | 187K | 1.68M | 2.12M | 2.34M | 22.11M | 8.55M |
| Current Ratio | 32.06x | 7.46x | 15.84x | 12.81x | 2.59x | 2.77x | 13.31x |
| Quick Ratio | 32.06x | 7.46x | 15.84x | 12.81x | 2.59x | 2.77x | 13.31x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 52.53M | 57.13M | 19.71M | 25.19M | 14.27M | 3.01M | 64.28M |
| Long-Term Debt | 420K | 483K | 560K | 20.85M | 12.38M | 2.6M | 1.46M |
| Capital Lease Obligations | 0 | 0 | 0 | 1.49M | 973K | 407K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 828K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 51.86M | 56.52M | 19.15M | 1.88M | 916K | 0 | 62.82M |
| Total Liabilities | 53.94M | 61.84M | 25.07M | 30.8M | 28.46M | 40.54M | 73.27M |
| Total Debt | 420K | 946K | 560K | 22.8M | 22.76M | 13.47M | 1.9M |
| Net Debt | -4.76M | -34.11M | -82.08M | -47.26M | -12.65M | -89.18M | -117.83M |
| Debt / Equity | - | - | 0.01x | 0.48x | 1.79x | 0.20x | 0.04x |
| Debt / EBITDA | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - |
| Interest Coverage | - | - | -485.40x | -20.33x | -74.69x | -15.97x | - |
| Total Equity | -8.04M▲ 0% | -23.56M▼ 193.1% | 64.14M▲ 372.2% | 47.71M▼ 25.6% | 12.74M▼ 73.3% | 66.33M▲ 420.4% | 51.92M▼ 21.7% |
| Equity Growth % | - | -193.13% | 372.21% | -25.61% | -73.29% | 420.42% | -21.72% |
| Book Value per Share | -0.43 | -1.26 | 2.24 | 1.66 | 0.44 | 2.09 | 0.98 |
| Total Shareholders' Equity | -8.04M | -23.56M | 64.14M | 47.71M | 12.74M | 66.33M | 51.92M |
| Common Stock | 116K | 116K | 286K | 290K | 290K | 469K | 550K |
| Retained Earnings | -26.49M | -44.17M | -80.3M | -99.09M | -137.03M | -192.21M | -230.39M |
| Treasury Stock | -18.19M | 0 | 0 | -448K | -448K | -448K | 0 |
| Accumulated OCI | -19K | 0 | -89.2M | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CADL Cash Flow Statement
Candel Therapeutics, Inc. (CADL) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -5.18M | -9.07M | -22.22M | -31.42M | -34.24M | -27.02M | -38.31M |
| Operating CF Margin % | -4141.6% | -7256.8% | -17774.4% | -25135.2% | - | - | - |
| Operating CF Growth % | - | -75.22% | -144.93% | -41.41% | -8.99% | 21.09% | -41.77% |
| Net Income | -8.24M | -17.68M | -36.12M | -18.79M | -37.94M | -55.18M | -38.18M |
| Depreciation & Amortization | 43K | 91K | 232K | 778K | 1.28M | 990K | 845K |
| Stock-Based Compensation | 400K | 2.11M | 2.96M | 2.31M | 3.09M | 5.31M | 3.82M |
| Deferred Taxes | 0 | 0 | 11.51M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 2.11M | 4.64M | 76K | -15.78M | -301K | 21.51M | -4.79M |
| Working Capital Changes | 513K | 1.77M | -876K | 71K | -378K | 346K | 0 |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 13K | 289K | 669K | -1.21M | 0 | -185K | 802K |
| Cash from Investing | -35.74M | 38.45M | -1.83M | -1.3M | -280K | -16K | -560K |
| Capital Expenditures | -159K | -1.48M | -1.83M | -1.3M | -457K | -16K | -587K |
| CapEx % of Revenue | 127.2% | 1180.8% | 1468% | 1037.6% | - | - | - |
| Acquisitions | -846K | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 177K | 0 | 27K |
| Cash from Financing | 21.98M | 490K | 71.8M | 19.97M | -121K | 94.28M | 56.1M |
| Debt Issued (Net) | -522K | 460K | 0 | 19.91M | 0 | -9.17M | 0 |
| Equity Issued (Net) | 1000K | 0 | 1000K | 0 | -121K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | -121K | 0 | 0 |
| Other Financing | 1K | 30K | 465K | 64K | 0 | 1.69M | 56.1M |
| Net Change in Cash | -18.94M▲ 0% | 29.87M▲ 257.7% | 47.75M▲ 59.8% | -12.74M▼ 126.7% | -34.65M▼ 171.9% | 67.24M▲ 294.1% | 17.23M▼ 74.4% |
| Free Cash Flow | -5.34M▲ 0% | -10.55M▼ 97.7% | -24.05M▼ 128.1% | -32.72M▼ 36.0% | -34.7M▼ 6.1% | -27.04M▲ 22.1% | -38.9M▼ 43.9% |
| FCF Margin % | -4268.8% | -8437.6% | -19242.4% | -26172.8% | - | - | - |
| FCF Growth % | - | -97.66% | -128.06% | -36.02% | -6.07% | 22.08% | -43.86% |
| FCF per Share | -0.29 | -0.56 | -0.84 | -1.14 | -1.20 | -0.85 | -0.73 |
| FCF Conversion (FCF/Net Income) | 0.63x | 0.51x | 0.62x | 1.67x | 0.90x | 0.49x | - |
| Interest Paid | 0 | 0 | 0 | 1.15M | 2.15M | 0 | 0 |
| Taxes Paid | 59K | 93K | 29K | 183K | 0 | 0 | 0 |
CADL Key Ratios
Candel Therapeutics, Inc. (CADL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | -178.06% | -33.61% | -125.5% | -139.56% | - |
| Return on Invested Capital (ROIC) | - | - | - | - | -10470.27% | - | - |
| Gross Margin | -5185.6% | 100% | -11575.2% | 100% | - | - | - |
| Net Margin | -6592% | -14144% | -28899.2% | -15035.2% | - | - | - |
| Debt / Equity | - | - | 0.01x | 0.48x | 1.79x | 0.20x | 0.04x |
| Interest Coverage | - | - | -485.40x | -20.33x | -74.69x | -15.97x | - |
| FCF Conversion | 0.63x | 0.51x | 0.62x | 1.67x | 0.90x | 0.49x | - |
| Revenue Growth | - | 0% | 0% | 0% | -100% | - | - |
CADL SEC Filings & Documents
Candel Therapeutics, Inc. (CADL) SEC filings — annual & quarterly reports (10-K, 10-Q)
CADL Frequently Asked Questions
Candel Therapeutics, Inc. (CADL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Candel Therapeutics, Inc. (CADL) grew revenue by 0.0% over the past year. Growth has been modest.
Candel Therapeutics, Inc. (CADL) reported a net loss of $8.7M for fiscal year 2025.
Dividend & Returns
Candel Therapeutics, Inc. (CADL) had negative free cash flow of $38.9M in fiscal year 2025, likely due to heavy capital investments.
Explore More CADL
Candel Therapeutics, Inc. (CADL) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
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Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates