Candel Therapeutics' CAN-2409 Enhances NSCLC Survival In Phase 2 Trial; Stock Surges

(RTTNews) - Candel Therapeutics Inc. (CADL) announced positive overall survival data from its phase 2 clinical trial of CAN-2409, a multimodal biological immunotherapy candidate, plus valacyclovir (prodrug), together with standard of care immune checkpoint inhibitor or ICI therapy in patients with Stage III/IV non-small cell lung cancer or NSCLC inadequately responding to ICI (anti-PD-(L)1) therapy.

The data will be presented at the 2024 American Society of Clinical Oncology Annual Meeting, to be held in Chicago, May 31 to June 4, 2024, the company said.

CADL closed Thursday's regular trading at $10.69 up $0.11 or 1.04%. In the after-hours trading the stock further gained $3.97 or 37.14%.

The company noted that Median overall survival of 20.6 months was observed following two administrations of CAN-2409 + valacyclovir in NSCLC patients with progressive disease despite immune checkpoint inhibitor therapy compared to published results of median overall survival of 11.6 months observed with standard of care docetaxel-based chemotherapy in a similar patient population.

The company noted that CAN-2409 treatment resulted in activation of the systemic immune response after two administrations of CAN-2409, including increased numbers of circulating cytotoxic and memory T cells associated with subsequent prolonged survival, and a beneficial effect on both injected and uninjected tumors (abscopal response).

As of the data cut-off date, CAN-2409 treatment in NSCLC continued to exhibit a favorable safety and tolerability profile, the company said.

Previously, the Company received FDA Fast Track Designation for CAN-2409 in NSCLC and pancreatic cancer as well as orphan drug designation in pancreatic cancer.