BofA initiated coverage of Candel Therapeutics (CADL) with a Buy rating and $15 price target Candel’s pipeline includes two lead drugs – CAN-2409 and CAN-3110 – both of which have shown “promising early data,” the analyst tells investors. 2409’s early data in prostate cancer point to potential for a “meaningful step” as available treatments have not progressed significantly in recent years, while 3110 appears in early data to “nearly double” overall survival in recurrent high-grade glioma, the analyst added.
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