Candel Therapeutics (CADL)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	16.82 mm	16.82 mm	16.82 mm	16.82 mm	16.82 mm	16.82 mm
Cash burn (monthly)	3.05 mm	2.94 mm	2.92 mm	2.99 mm	(no burn)	1.92 mm
Cash used (since last report)	8.50 mm	8.21 mm	8.13 mm	8.32 mm	n/a	5.35 mm
Cash remaining	8.32 mm	8.62 mm	8.69 mm	8.50 mm	n/a	11.48 mm
Runway (months of cash)	2.7	2.9	3.0	2.8	n/a	6.0

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2024

CADL institutional ownership history Ownership history

29.0% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	53	48	+10.4%
Opened positions	14	33	-57.6%
Closed positions	9	6	+50.0%
Increased positions	16	9	+77.8%
Reduced positions	10	4	+150.0%

13F shares	Current	Prev Q	Change
Total value	45.78 bn	36.12 bn	+26.7%
Total shares	8.38 mm	7.65 mm	+9.6%
Total puts	130.00 k	56.00 k	+132.1%
Total calls	108.60 k	82.90 k	+31.0%
Total put/call ratio	1.2	0.7	+77.2%

Largest owners	Shares	Value	Change
Northpond Ventures	1.94 mm	$13.41 bn	0.0%
Northpond Ventures	1.69 mm	$0.00	0.0%
BLK BlackRock	1.13 mm	$7.80 bn	NEW
Vanguard	946.27 k	$6.56 bn	+15.6%
STT State Street	492.01 k	$3.41 bn	+4.1%
Geode Capital Management	449.00 k	$3.11 bn	+12.8%
Sands Capital Ventures	405.84 k	$2.81 bn	0.0%
Halter Ferguson Financial	304.54 k	$2.11 bn	NEW
NTRS Northern Trust	158.77 k	$1.10 bn	+265.5%
Susquehanna International	135.46 k	$938.70 mm	NEW

Largest transactions	Shares	Bought/sold	Change
BLK BlackRock	1.13 mm	+1.13 mm	NEW
BLK BlackRock	0.00	-823.07 k	EXIT
Nuveen Asset Management	66.22 k	-315.97 k	-82.7%
Halter Ferguson Financial	304.54 k	+304.54 k	NEW
Susquehanna International	135.46 k	+135.46 k	NEW
Vanguard	946.27 k	+127.72 k	+15.6%
NTRS Northern Trust	158.77 k	+115.33 k	+265.5%
HB Wealth Management	56.66 k	+56.66 k	NEW
Geode Capital Management	449.00 k	+51.11 k	+12.8%
MML Investors Services	22.31 k	-51.06 k	-69.6%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

CADL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
16 Dec 24	Paul B Manning	Common Stock	Buy	Acquire P	Yes	No	6	750,000	4.50 mm	1,303,752
16 Dec 24	Paul B Manning	Common Stock	Buy	Acquire P	Yes	No	6	500,000	3.00 mm	1,142,406
12 Dec 24	Estuardo Aguilar-Cordova	CADL	Sale back to company	Dispose D	Yes	No	10.04	200,000	2.01 mm	431,443
12 Dec 24	Estuardo Aguilar-Cordova	CADL	Sale back to company	Dispose D	No	No	10.04	200,000	2.01 mm	473,512
11 Dec 24	Estuardo Aguilar-Cordova	CADL	Sale back to company	Dispose D	Yes	No	8.53	200,000	1.71 mm	631,443
11 Dec 24	Estuardo Aguilar-Cordova	CADL	Sale back to company	Dispose D	No	No	8.53	200,000	1.71 mm	673,512
6 Dec 24	Estuardo Aguilar-Cordova	CADL	Sale back to company	Dispose D	No	No	5.23	20,000	104.60 k	91,335
5 Dec 24	Estuardo Aguilar-Cordova	CADL	Sale back to company	Dispose D	No	No	4.79	20,000	95.80 k	111,335
4 Dec 24	Estuardo Aguilar-Cordova	CADL	Sale back to company	Dispose D	No	No	4.46	20,000	89.20 k	131,335
29 Nov 24	Seshu Tyagarajan	Common Stock	Sell	Dispose S	No	No	4.5556	20,392	92.90 k	125,657