Candel Therapeutics, Inc.

Candel Therapeutics, Inc. (CADL) priced its initial public offering on Jul 28, 2021 at $8.00 per share, raising $72M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $222.4M. Jefferies was lead-left underwriter, joined by Credit Suisse, BMO Capital Markets and UBS. Goodwin Procter advised the company and WilmerHale advised the underwriters.

Candel Therapeutics, Inc. is a late clinical-stage biopharmaceutical company developing oncolytic viral immunotherapies for cancer. Its engineered viruses are designed to kill cancer cells directly, release tumor neo-antigens and create a pro-inflammatory environment at the injection site.

Status

IPO

Ticker

CADL

Exchange

Nasdaq Global Market

Priced

Jul 28, 2021

IPO price

$8.00

Raised

$72M

Market cap at IPO price

$222.4M

First filed

Jun 25, 2021

Underwriters

Jefferies, Credit Suisse, BMO Capital Markets and UBS

Company counsel

Goodwin Procter

Underwriters' counsel

WilmerHale

Sector

Biotech & pharma

Country / state

MA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.