Short answer
Candel Therapeutics, Inc. (CADL) filed its Q3 2025 10-Q quarterly report on Nov 13, 2025 for the quarter ended Sep 30, 2025.
Q3 2025 key financials · XBRL
- Net income
- −$11M
- −5.9% YoY · −135.0% QoQ
- EPS (diluted)
- −$0.22
- +31.3% YoY · −175.0% QoQ
Source: XBRL data from the Candel Therapeutics, Inc. (CADL) Q3 2025 10-Q on SEC EDGAR. USD.
Candel Therapeutics, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue and YoY change not provided in supplied MD&A
- Profitability or margin percentages not provided in supplied MD&A
- CAN-2409 strongest data: prostate DFS HR 0.70; pancreatic median survival 31.4 vs 12.5 months
- Cash and equivalents $87.0M at September 30, 2025; $14.3M net proceeds from June offering
- Runway into first quarter 2027; planned CAN-2409 NSCLC phase 3 initiation second quarter 2026
Risk Factors
- Newly added financing risk: Trinity LSA entered October 14, 2025, adds $130.0 million borrowing capacity and covenant-default exposure
- Liquidity runway extends into first quarter 2027 using $87.0 million cash plus Trinity proceeds
- Variable-rate Trinity debt exposes liquidity and cash flows to further interest-rate increases
- Clinical-development concentration: CAN-2409 remains the most advanced candidate and failure would materially delay profitability
- Commercial risk: no approved products and zero product-sales revenue to date
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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