We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Candel (CADL) Up on Upbeat Data From Pancreatic Cancer Study
Read MoreHide Full Article
Candel Therapeutics, Inc.’s (CADL - Free Report) shares skyrocketed 280.9% on Apr 5, after the company announced positive interim data from the phase II study evaluating its lead candidate, CAN-2409 plus valacyclovir (prodrug), together with standard of care (SoC) chemoradiation, followed by resection for borderline resectable pancreatic ductal adenocarcinoma (PDAC).
The updated interim data from the ongoing phase II study showed that experimental treatment with CAN-2409 led to notable improvements in estimated median overall survival of 28.8 months compared with only 12.5 months in the control group in borderline resectable PDAC.
Patients treated with CAN-2409 had a survival rate of 71.4% versus only 16.7% in the control group after chemoradiation at 24 months of treatment. Moreover, the survival rate was 47.6% for patients treated with CAN-2409 compared with a mere 16.7% in the control group at 36 months.
Per the company, adding the CAN-2409 regimen to SoC was generally well tolerated while no new safety signals were observed. No cases of pancreatitis and dose-limiting toxicities were reported either.
Shares of Candel have skyrocketed 335.4% year to date compared with the industry’s growth of 1.5%.
Image Source: Zacks Investment Research
The above-mentioned survival data were updated with eight months of further follow-up since the first analysis, which was presented in 2023 at the annual meeting of the Society for Immunotherapy.
The FDA granted Fast Track designation to CAN-2409 plus prodrug (valacyclovir) for the treatment of PDAC in December 2023.
If successfully developed and a potential approval for CAN-2409 could present a significant commercial opportunity for Candel, given the frequent recurrence and short survival with SoC chemotherapy for non-metastatic PDAC, there remains a high unmet medical need for effective new treatments for PDAC.
Apart from pancreatic cancer, CADL expects key data readouts for CAN-2409 in non-small cell lung cancer later in the second quarter of 2024, while top-line data in prostate cancer is expected in the fourth quarter of 2024.
In the absence of a marketed product, the successful development of its pipeline candidates remains the key focus for this clinical-stage biopharmaceutical company.
In the past 60 days, estimates for ADMA Biologics’ 2024 earnings per share have improved from 22 cents to 30 cents. Year to date, shares of ADMA have rallied 38.9%.
ADMA’s earnings beat estimates in three of the trailing four quarters and met the same once, the average surprise being 85.00%.
In the past 60 days, estimates for Ligand’s 2024 earnings per share have improved from $4.42 to $4.56. Year to date, shares of LGND have gained 9.2%.
Earnings of LGND beat estimates in each of the trailing four quarters, the average surprise being 84.81%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have improved from $4.06 to $4.43. Year to date, shares of ANIP have rallied 23.2%.
Earnings of ANIP beat estimates in each of the trailing four quarters, the average surprise being 109.06%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Candel (CADL) Up on Upbeat Data From Pancreatic Cancer Study
Candel Therapeutics, Inc.’s (CADL - Free Report) shares skyrocketed 280.9% on Apr 5, after the company announced positive interim data from the phase II study evaluating its lead candidate, CAN-2409 plus valacyclovir (prodrug), together with standard of care (SoC) chemoradiation, followed by resection for borderline resectable pancreatic ductal adenocarcinoma (PDAC).
The updated interim data from the ongoing phase II study showed that experimental treatment with CAN-2409 led to notable improvements in estimated median overall survival of 28.8 months compared with only 12.5 months in the control group in borderline resectable PDAC.
Patients treated with CAN-2409 had a survival rate of 71.4% versus only 16.7% in the control group after chemoradiation at 24 months of treatment. Moreover, the survival rate was 47.6% for patients treated with CAN-2409 compared with a mere 16.7% in the control group at 36 months.
Per the company, adding the CAN-2409 regimen to SoC was generally well tolerated while no new safety signals were observed. No cases of pancreatitis and dose-limiting toxicities were reported either.
Shares of Candel have skyrocketed 335.4% year to date compared with the industry’s growth of 1.5%.
Image Source: Zacks Investment Research
The above-mentioned survival data were updated with eight months of further follow-up since the first analysis, which was presented in 2023 at the annual meeting of the Society for Immunotherapy.
The FDA granted Fast Track designation to CAN-2409 plus prodrug (valacyclovir) for the treatment of PDAC in December 2023.
If successfully developed and a potential approval for CAN-2409 could present a significant commercial opportunity for Candel, given the frequent recurrence and short survival with SoC chemotherapy for non-metastatic PDAC, there remains a high unmet medical need for effective new treatments for PDAC.
Apart from pancreatic cancer, CADL expects key data readouts for CAN-2409 in non-small cell lung cancer later in the second quarter of 2024, while top-line data in prostate cancer is expected in the fourth quarter of 2024.
In the absence of a marketed product, the successful development of its pipeline candidates remains the key focus for this clinical-stage biopharmaceutical company.
Zacks Rank & Stocks to Consider
Candel currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are ADMA Biologics, Inc. (ADMA - Free Report) , Ligand Pharmaceuticals Incorporated (LGND - Free Report) and ANI Pharmaceuticals, Inc. (ANIP - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for ADMA Biologics’ 2024 earnings per share have improved from 22 cents to 30 cents. Year to date, shares of ADMA have rallied 38.9%.
ADMA’s earnings beat estimates in three of the trailing four quarters and met the same once, the average surprise being 85.00%.
In the past 60 days, estimates for Ligand’s 2024 earnings per share have improved from $4.42 to $4.56. Year to date, shares of LGND have gained 9.2%.
Earnings of LGND beat estimates in each of the trailing four quarters, the average surprise being 84.81%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have improved from $4.06 to $4.43. Year to date, shares of ANIP have rallied 23.2%.
Earnings of ANIP beat estimates in each of the trailing four quarters, the average surprise being 109.06%.