CADLCandel Therapeutics, Inc.
Biological Products, (no Diagnostic Substances)
- Revenue
- —
- Operating margin
- —
- EBITDA
- −$47M
- 46% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$201M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired31× of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $125K | $125K | — | — | — | |
| Operating income | −$26M | −$35M | −$38M | −$33M | −$48M | 45% |
| Net income | −$36M | −$19M | −$38M | −$55M | −$38M | 31% |
| Operating cash flow | −$22M | −$31M | −$34M | −$27M | −$38M | 42% |
| Capex | $2M | $1M | $457K | $16K | $587K | 3569% |
| Stock-based comp | $3M | $2M | $3M | $5M | $4M | 28% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $3M · 2
- Net
- −$3M
Pay vs performance
No pay-versus-performance disclosure yet.