Candel Therapeutics Inc. Common Stock (CADL)

FairStock Score: 18/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I start with the question Graham taught me: does this business earn money, and if not, what evidence supports paying for hope? Candel Therapeutics is a clinical-stage cancer immunotherapy company with no reported revenue in any filed period I was given. The losses are persistent: in FY2023 net income was -$37.9M; FY2024 -$55.2M; FY2025 -$38.2M; and in fiscal Q2 2026, the quarter ended 2026-06-30, the net loss was -$38.9M. Trailing free cash flow is -$57.3M, and the FCF yield is -8.1% (FairStock calculation). At the 2026-10-13 close of $9.27, market cap is $709.3M. Price-based metrics are unappealing: P/E -6.31 and P/B 5.58 (FairStock calculations). Returns on capital are deeply negative: ROE -81.84%, ROCE -28.64%. Debt/equity of 0.39 is not alarming, but it does not solve the cash-burn problem. Quality scores confirm the picture: Piotroski 1/9, Altman Z 4.42, FairStock Score 18/100. Lynch category is none because the company has lost money in each of the last four years. The pipeline—CAN-2409 in Phase 2a for prostate and NSCLC, CAN-3110 in Phase Ib for recurrent high-grade glioma—may have option value, but there is no approved product, no revenue, and no demonstrated moat. I would call the current price speculative, not cheap on present numbers. Progress must come from trial data and financing, not from earnings.

In plain English: Candel Therapeutics is a small healthcare company testing new cancer treatments. It has no product sales yet and has been losing money for years, so the business looks weak on current financial strength. At about $9.27 a share, the price looks expensive versus today’s numbers because there are no profits or revenue to support it; the value depends almost entirely on future trial results.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer