---
title: "Candel Therapeutics | 8-K: FY2026 Q1 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286415130.md"
datetime: "2026-05-14T12:17:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286415130.md)
  - [en](https://longbridge.com/en/news/286415130.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286415130.md)
---

# Candel Therapeutics | 8-K: FY2026 Q1 Revenue: USD 0

Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD -0.14, beating the estimate of USD -0.326.

EBIT: As of FY2026 Q1, the actual value is USD -16.04 M.

#### Cash Position

Cash and cash equivalents were $194.8 million as of March 31, 2026, an increase from $119.7 million as of December 31, 2025 .

#### Research and Development Expenses

Research and development expenses increased to $9.8 million for the first quarter of 2026, up from $4.0 million for the first quarter of 2025 . This increase was primarily driven by higher clinical trial and manufacturing costs for the Company’s aglatimagene programs and an increase in employee-related expenses . Non-cash stock compensation expense within R&D was $0.6 million for Q1 2026, compared to - $0.1 million for Q1 2025 .

#### General and Administrative Expenses

General and administrative expenses rose to $6.4 million for the first quarter of 2026, compared to $4.1 million for the first quarter of 2025 . This increase was mainly due to higher commercial readiness costs and an increase in employee-related expenses . Non-cash stock compensation expense for G&A was $0.8 million for Q1 2026, compared to $0.4 million for Q1 2025 .

#### Total Operating Expenses

Total operating expenses were $16.3 million for the first quarter of 2026, up from $8.1 million for the first quarter of 2025 .

#### Loss from Operations

Loss from operations for the first quarter of 2026 was - $16.3 million, compared to - $8.1 million for the first quarter of 2025 .

#### Net Income (Loss)

Candel Therapeutics, Inc. reported a net loss of - $8.9 million for the first quarter of 2026, a decrease from a net income of $7.4 million for the first quarter of 2025 . This included net other income of $7.4 million for Q1 2026 and $15.5 million for Q1 2025, with the decrease primarily related to the change in the fair value of the Company’s warrant liabilities .

#### Other Income, Net

Total other income, net, was $7.4 million for the first quarter of 2026, down from $15.5 million for the first quarter of 2025 . This figure included grant income of $22 thousand (vs. $0 in Q1 2025), interest income of $1.3 million (vs. $934 thousand in Q1 2025), interest expense of - $1.6 million (vs. - $306 thousand in Q1 2025), and a change in fair value of warrant liabilities of $7.6 million (vs. $14.9 million in Q1 2025) .

#### Balance Sheet Highlights (as of March 31, 2026 vs. December 31, 2025)

-   Working capital: $190.7 million vs. $112.4 million
-   Total assets: $201.9 million vs. $125.2 million
-   Warrant liabilities: $8.0 million vs. $15.6 million
-   Total other liabilities: $55.9 million vs. $57.7 million
-   Accumulated deficit: - $239.2 million vs. - $230.4 million
-   Total stockholders’ equity: $138.0 million vs. $51.9 million

#### Outlook / Guidance

Candel Therapeutics, Inc. plans to submit a Biologics License Application (BLA) for aglatimagene (CAN-2409) in localized, intermediate- to high-risk prostate cancer in Q4 2026 . The Company expects its existing cash and cash equivalents of $194.8 million as of March 31, 2026, to fund operations into Q1 2028, including activities to support the potential commercial launch of aglatimagene in 2027 . Additionally, a pivotal Phase 3 clinical trial of aglatimagene in patients with progressive, metastatic, NSCLC despite ICI treatment is planned to initiate in Q2 2026 .

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