Candel Therapeutics Grants Stock Options to Strengthen Workforce
NEEDHAM, Mass., Sept. 01, 2026 /CourierPR/ -- Candel Therapeutics, a clinical-stage biopharmaceutical company focused on developing multimodal immunotherapies for cancer patients, has announced the grant of inducement stock options to two new employees, a move aimed at strengthening its workforce and aligning with Nasdaq listing rules.
On August 31, 2026, Candel's Compensation Committee granted a total of 31,400 shares of common stock to the two new hires via stock options, each with a per share exercise price of $13.07. According to the terms of the 2025 Inducement Plan, the options will vest as follows: 25% of the shares will vest on the first anniversary of the start date, and the remaining 75% will vest in 36 equal monthly installments thereafter. The vesting schedule is contingent on the employees' continued service at the company.
"These inducement grants are a strategic move to attract and retain top talent," said Candel's Chief Human Resources Officer, Jane Thompson. "We believe these options will motivate our new employees to contribute to the company's ongoing success."
The inducement stock options were granted in accordance with Nasdaq Listing Rule 5635(c)(4), which requires that such grants be made to new hires to secure their employment. The 2025 Inducement Plan, which was adopted by the Board on December 24, 2025, provides the framework for these and similar grants.
Candel Therapeutics continues to advance its research and development efforts. The company's lead product candidate, aglatimagene besadenovec (CAN-2409), has shown promising results in clinical trials. It has completed successful phase 2a clinical trials in non-small cell lung cancer (NSCLC) and pancreatic ductal adenocarcinoma (PDAC), and a pivotal, placebo-controlled phase 3 clinical trial in localized prostate cancer. The FDA has granted Fast Track Designation, Regenerative Medicine Advanced Therapy Designation, and Orphan Drug Designation to aglatimagene for the treatment of localized prostate cancer and PDAC.
In addition, the company's other lead product candidate, linoserpaturev (CAN-3110), is currently in an ongoing phase 1b clinical trial for recurrent high-grade glioma. Initial results from this trial have been published in Nature and Science Translational Medicine, and linoserpaturev has received Fast Track Designation and Orphan Drug Designation from the FDA.
Candel's enLIGHTEN™ Discovery Platform, a systematic and iterative HSV-based discovery platform, is also driving innovation. This platform leverages human biology and advanced analytics to create new viral immunotherapies for solid tumors.