Candel Therapeutics (NASDAQ: CADL) stock skyrocketed over 280% in intraday trading Thursday after a biopharmaceutical company released promising interim data from a Phase 2 trial of CAN-2409 for non-metastatic pancreatic cancer.
Candel Therapeutics (CADL) has released promising interim results from its phase 2 clinical trial evaluating CAN-2409, an investigational pancreatic ductal adenocarcinoma (PDAC) treatment. The latest findings indicate a significant improvement in median overall survival among patients treated with CAN-2409 compared to the control group.
As of March 29, 2024, the updated data showcases compelling survival outcomes for patients with borderline resectable PDAC who received CAN-2409 in combination with standard chemoradiation and surgery. The median overall survival for this cohort reached an impressive 28.8 months, compared to 12.5 months for the control group. Moreover, at 24 months, the survival rate stood at 71.4% for the CAN-2409 group versus 16.7% for the control, with estimated survival rates of 47.6% versus 16.7% at 36 months, respectively.
The trial has not reported any new safety concerns associated with CAN-2409, indicating its favorable tolerability profile with multiple injections. There have been no instances of pancreatitis or dose-limiting toxicities reported.
Earlier analyses of resected tumors from patients treated with CAN-2409 also revealed encouraging signs, including dense clusters of immune cells within PDAC tissue, suggesting a robust anti-tumor immune response. Following treatment, increased levels of immune indicators in the blood further supported this response.
Candel Therapeutics (CADL) Phase 2 Trial Update
Dr. Garrett Nichols, Chief Medical Officer of Candel, expressed optimism regarding the improved survival outcomes associated with CAN-2409.
He said,
“We are very encouraged by the improved survival associated with CAN-2409, which has been shown to be durable after prolonged follow-up based on the updated data shown in this randomized clinical trial. CAN-2409 was generally well tolerated without significant additional local or systemic toxicity when added to SoC chemoradiation.”
Paul Peter Tak, President and CEO, underscored the potential of CAN-2409 to transform progressive cancer into a chronic condition with improved survival outcomes.
He noted,
“The immunological changes induced by CAN-2409, evident in the pancreatic tissue and the peripheral blood after administration, suggest that CAN-2409 is able to change the balance between the tumor and the patient’s anti-tumor immune response, which can convert progressive cancer into a chronic disease associated with improved survival.”
In addition to PDAC, Candel (NASDAQ: CADL) actively investigates CAN-2409 in ongoing clinical trials for non-small cell lung cancer and localized, non-metastatic prostate cancer. The FDA granted Fast Track Designation to CAN-2409 for treating PDAC in December 2023.
Candel Therapeutics (NASDAQ: CADL) Stock Price Action
CADL stock surged 280.95% to close at $6.40 on Thursday. The traders had exchanged hands with 137,007,530 (137 million) shares compared to the average daily trading volume of 83.88K.
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