Candel Therapeutics, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
CADL$9.35-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
(In thousands)
| NINE MONTHS ENDEDSEPTEMBER 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(8,686) | $(41,104) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation expense | 682 | 745 |
| Impairment of fixed assets | 83 | — |
| Loss on the sale and disposal of fixed assets | 339 | — |
| Non-cash stock compensation expense | 2,527 | 4,068 |
| Non-cash lease expense | 232 | 202 |
| Non-cash interest expense | 103 | 89 |
| Change in fair value of warrant liability | (21,718) | 14,970 |
| Accretion of debt discount | 97 | 218 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (1,710) | (143) |
| Other assets | (22) | 41 |
| Accounts payable | 769 | (129) |
| Accrued expenses | (35) | 213 |
| Lease liability | (404) | (379) |
| Net cash used in operating activities | (27,743) | (21,209) |
| Cash Flows from Investing Activities: | ||
| Purchase of fixed assets | (178) | (13) |
| Proceeds from the sale of fixed assets | 27 | — |
| Net cash used in investing activities | (151) | (13) |
| Cash Flows from Financing Activities: | ||
| Proceeds from issuance of common stock in registered direct offering | 14,331 | — |
| Proceeds from sale of common stock, net of issuance costs | 5,038 | 7,715 |
| Proceeds from option exercises | 512 | 1,319 |
| Principal payments on term loan | (7,500) | (6,667) |
| Payment of deferred debt issuance costs | (178) | — |
| Net cash provided by financing activities | 12,203 | 2,367 |
| Net decrease in cash, cash equivalents and restricted cash | (15,691) | (18,855) |
| Cash, cash equivalents and restricted cash at beginning of period | 102,920 | 35,679 |
| Cash, cash equivalents and restricted cash at end of period | $87,229 | $16,824 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $571 | $1,462 |
| Supplemental disclosures of non-cash information: | ||
| Change in right-of-use asset and lease liability due to lease amendment | $1,440 | $— |
| Deferred debt issuance costs in accounts payable and accrued expenses | $133 | $— |
| Capital expenditures in accounts payable and accrued expenses | $125 | $3 |
| Reversal of issuance costs in accrued expenses | $(75) | $— |
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