Candel Therapeutics, Inc. (CADL) shares rose 4.55 percent to $5.85 on Wednesday, gaining $0.26, after the company announced that the U.S. Food and Drug Administration granted Regenerative Medicine Advanced Therapy designation to its lead candidate, CAN-2409, for the treatment of newly diagnosed localized prostate cancer in intermediate-to-high-risk patients. Candel opened at $5.66 and traded between $5.66 and $6.29 on the Nasdaq. Volume reached 1.43 million shares, surpassing its average of 976,245. The stock previously closed at $5.60 and has a 52-week range of $3.79 to $14.60.
The therapy had previously received Fast Track designation for the same indication. CAN-2409 is a biological immunotherapy designed to activate the immune system to target and destroy cancer cells. The RMAT designation is expected to facilitate expedited development and review, potentially accelerating its path to market.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.