Candel's cancer therapy meets late-stage trial goal, shares soar (updated)

Candel Therapeutics

11/12/2024 12:26

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       Dec 11 (Reuters) - Candel Therapeutics  CADL.O  said on
Wednesday its experimental immunotherapy for prostate cancer met
the main goal of a late-stage trial, helping the company's
shares more than double in value in premarket trading.
    The immunotherapy, CAN-2409, in combination with radiation
therapy significantly improved disease-free survival in
patients, compared to radiation alone, the company said.
    Candel said it plans to discuss with the Food and Drug
Administration regarding the therapy in
intermediate-to-high-risk localized prostate cancer.
    Over 100,000 men are diagnosed with prostate cancer every
year in the U.S., the company said.
    The company's shares were up 176.8% at $12.76 in trading
before the bell. 


    

 (Reporting by Kamal Choudhury in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Kamal.Choudhury@thomsonreuters.com;))