CADL Phase 2 readout: a negative outcome, -9.1%

On December 15, 2025, aglatimagene besadenovec — Candel Therapeutics, Inc. (Prostate Cancer) reached its Phase 2 readout. The result was a negative outcome, and the stock moved -9.1% in the window around the event. It had already run +36.9% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.