Candel therapeutics announces $15 million registered direct offering of common stock

Needham, mass., june 24, 2025 (globe newswire) -- candel therapeutics, inc. (candel or the company) (nasdaq: cadl), a clinical-stage biopharmaceutical company focused on developing multimodal biological immunotherapies to help patients fight cancer, has agreed to sell approximately 3.2 million shares of its common stock (common stock) to a select group of accredited investors in a registered direct offering (the offering), at a price per share of $4.67. the offering is expected to close on june 25, 2025, subject to the satisfaction of customary closing conditions. gross proceeds from the offering are expected to be approximately $15.0 million, before deducting offering-related expenses payable by the company.
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