Breaking News: Candel Therapeutics Successfully Completes Public Offering and Underwriters Exercise Option for Additional Shares!
NEEDHAM, Mass., Dec. 16, 2024 (GLOBE NEWSWIRE) —
Candel Therapeutics, Inc. (“Candel”) (Nasdaq: CADL), a clinical stage biopharmaceutical company focused on developing multimodal biological immunotherapies to help patients fight cancer, today announced the closing of its previously announced underwritten public offering of 12,000,001 shares of its common stock at a price to the public of $6.00 per share and pre-funded warrants to purchase up to an aggregate of 3,333,333 shares of its common stock at a price to the public of $5.99 per pre-funded warrant to purchase one share of the common stock, which represents the per share public offering price for the common stock less the $0.01 per share exercise price for each such pre-funded warrant. The 12,000,001 shares of common stock sold in the offering include 2,000,000 shares sold pursuant to the full exercise of the underwriters’ option to purchase up to 2,000,000 additional shares of common stock at the public offering price, less the underwriting discount.
Candel Therapeutics, a biopharmaceutical company known for its focus on developing innovative treatments for cancer patients, has successfully completed a public offering of its common stock. The offering, which included an option exercised by underwriters for additional shares, has been met with great success in the market.
The company’s dedication to developing multimodal biological immunotherapies to combat cancer has garnered attention from investors and industry experts alike. This latest announcement marks a significant milestone for Candel Therapeutics and its mission to provide effective treatment options for patients facing cancer diagnoses.
With the completion of this public offering, Candel Therapeutics is poised to further its research and development efforts, potentially leading to groundbreaking advancements in the field of oncology. The influx of funding from the offering will support the company’s ongoing clinical trials and initiatives aimed at bringing new therapeutic options to market.
How will this affect me?
As a potential investor, the successful completion of Candel Therapeutics’ public offering may present an opportunity for financial growth. The company’s focus on developing innovative cancer treatments has the potential to generate returns for shareholders, especially as its research progresses and reaches key milestones.
How will this affect the world?
The continued progress and success of companies like Candel Therapeutics in the biopharmaceutical industry have the potential to positively impact the world by advancing the development of new and improved cancer therapies. Patients around the globe stand to benefit from the groundbreaking research and treatment options that may result from investments in companies like Candel Therapeutics.
Conclusion
Candel Therapeutics’ successful completion of its public offering and the underwriters’ exercise of additional shares mark a significant moment in the company’s journey to revolutionize cancer treatment. With a focus on innovative immunotherapies, Candel Therapeutics is paving the way for advancements in the fight against cancer, benefiting both investors and patients worldwide.
