Candel Therapeutics Inc. has released its financial results for the second quarter ended June 30, 2025. The company reported research and development expenses of $7.0 million for the second quarter of 2025, marking an increase from $5.0 million in the same period of 2024. This increase was primarily due to a rise in manufacturing costs supporting the company's CAN-2409 programs, despite a decrease in employee-related expenses driven by a reduction in stock-based compensation expense. The non-cash stock compensation expense included in the research and development expenses was $0.4 million for the second quarter of 2025, compared to $1.3 million for the second quarter of 2024. Candel Therapeutics also outlined significant corporate highlights, including the receipt of FDA Regenerative Medicine Advanced Therapy (RMAT) Designation for CAN-2409 in the treatment of prostate cancer and positive results from the phase 3 randomized, placebo-controlled clinical trial of CAN-2409 in localized prostate cancer, which were presented at the 2025 Annual Meeting of the American Society of Clinical Oncology (ASCO). Additionally, the company received Orphan Designation for CAN-2409 for the treatment of pancreatic cancer from the European Medicines Agency $(EMA)$. The company holds cash and cash equivalents of $100.7 million as of June 30, 2025, which is expected to fund operations into the first quarter of 2027. Candel is preparing for a Biologics License Application $(BLA.AU)$ for CAN-2409 in intermediate-to-high-risk localized prostate cancer, with submission expected in the fourth quarter of 2026.