Why Candel Therapeutics Is Rising In Pre-market?

(RTTNews) - Candel Therapeutics (CADL) reported results from a multicenter phase 3 clinical trial evaluating CAN-2409 viral immunotherapy in localized prostate cancer patients. The phase 3 clinical trial of CAN-2409 in intermediate-to-high-risk, localized prostate cancer met its primary endpoint, by demonstrating statistically significant improvement in disease-free survival in patients who received CAN-2409 plus prodrug or valacyclovir combined with standard of care compared to standard of care alone.

Based on the results, Candel plans to initiate discussions with the FDA regarding the regulatory pathway for CAN-2409 in intermediate-to-high-risk localized prostate cancer.

Shares of Candel Therapeutics are up 128% in pre-market trade on Wednesday.

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