NEEDHAM, Mass. - Candel Therapeutics, Inc. (NASDAQ: CADL), a biopharmaceutical company, announced new clinical trial data indicating that its immunotherapy candidate, CAN-2409, in combination with valacyclovir, may significantly improve survival in non-small cell lung cancer (NSCLC) patients. These patients had previously shown progressive disease despite treatment with immune checkpoint inhibitors (ICIs).
The phase 2 trial results showed a median overall survival (mOS) of 20.6 months after two administrations of CAN-2409 plus valacyclovir, compared to a mOS of 11.6 months with standard-of-care docetaxel-based chemotherapy in a similar patient population, as reported in 2022. The data, which will be presented at the American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago from May 31 to June 4, 2024, suggest that CAN-2409 can reactivate the immune system and may lead to prolonged survival.
Patients treated with CAN-2409 exhibited increased numbers of circulating cytotoxic and memory T cells, and more than 70% of patients with metastatic disease showed a beneficial effect on both injected and uninjected tumors, indicating a systemic immune response.
The study included 46 patients who received two administrations of the treatment. Notably, the therapy continued to demonstrate a favorable safety and tolerability profile, with no dose-limiting toxicities or severe treatment-related adverse events reported as of April 1, 2024.
CAN-2409 has been granted Fast Track Designation by the U.S. Food and Drug Administration (FDA) for the treatment of NSCLC and pancreatic cancer, as well as Orphan Drug Designation for pancreatic cancer. The results contribute to a growing body of evidence that suggests CAN-2409 may help convert progressive cancer into stable disease, potentially meeting a significant unmet medical need in advanced cancers.
The company's CEO, Paul Peter Tak, MD, PhD, expressed optimism about the potential of CAN-2409 to improve overall survival in patients whose disease had progressed despite prior anti-PD-(L)1 treatment. Charu Aggarwal, MD, MPH, FASCO, echoed this sentiment, highlighting the importance of these findings for patients with limited therapeutic options.
InvestingPro Insights
In light of Candel Therapeutics, Inc.'s (NASDAQ: CADL) promising clinical trial results for its immunotherapy candidate CAN-2409, investors are closely monitoring the company's financial health and stock performance. Real-time data from InvestingPro paints a nuanced picture of CADL's market position. The company's market capitalization currently stands at $313.72 million, reflecting its standing in the biopharmaceutical industry. Despite the positive clinical outcomes, the company's Price/Earnings (P/E) ratio is at -7.92, with an adjusted P/E for the last twelve months as of Q1 2024 at -8.4, indicating that investors are still cautious about the company's profitability prospects.
InvestingPro Tips highlight that CADL has experienced a significant price uptick over the last six months, with a total return of 1075.56%, showcasing a strong investor confidence following recent developments. Additionally, the stock is known for its high price volatility, which could be attributed to the nature of the biopharmaceutical sector and the inherent risks involved in drug development and regulatory approval processes.
For those looking to delve deeper into Candel Therapeutics' financials and stock analysis, InvestingPro offers a wealth of additional tips. Currently, there are 11 more InvestingPro Tips available that could provide valuable insights into CADL's performance and investment potential. Interested readers can find these tips and more detailed metrics at https://www.investing.com/pro/CADL. Furthermore, by using the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more expert analysis and data to inform their investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.