Candel Therapeutics

CADL

Biotechnology · Healthcare

Price

$13.13

+0.78 (+6.32%)

Market Cap

$962.0M

Exchange

NASDAQ

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count rising — dilution

+180.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 18.9M (2021) → 53.0M (2025)

Winston Score History

The full picture

Candel Therapeutics is a small biotech company that tries to help the immune system fight cancer. It develops experimental treatments called oncolytic viral immunotherapies, which use engineered viruses to attack tumor cells and trigger an immune response. Its main customers are cancer patients enrolled in clinical trials, and it focuses on hard-to-treat cancers like prostate cancer and pancreatic cancer.

Candel does not yet sell any approved products, so it currently earns no meaningful revenue. The company is based in Lexington, Massachusetts, and funds its operations through grants, partnerships, and by raising money from investors. Its pipeline includes two main platforms — CAN-2409 and CAN-3110 — but like most early-stage biotechs, it faces significant risk: if clinical trials fail to show that its treatments are safe and effective, the company could run out of cash before reaching the market.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

-458.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$30M/ year

↑ Rising (+58% vs prior year)

R&D investment increasing — building for the future

Insider Activity

22.5%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~3 years

$202M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$202M cash & investments at current burn rate

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

N/A

—

Data not available

Profit after running costs

Operating Margin

N/A

—

Data not available

Return on the money invested

ROCE

-41.4%

Weak — -41.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

N/A

—

Data not available

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

N/A

—

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

0.38

Conservative — low debt load (0.38)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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