What is Candel Therapeutics, Inc.'s R&D?

Candel Therapeutics, Inc. (CADL) reported R&D of $9.84M in Q1 2026.

How has Candel Therapeutics, Inc.'s R&D changed year-over-year?

Candel Therapeutics, Inc.'s R&D increased by 145.0% year-over-year, from $4.02M to $9.84M.

What is the long-term trend for Candel Therapeutics, Inc.'s R&D?

Over 4 years (2021 to 2025), Candel Therapeutics, Inc.'s R&D has grown at a 19.1% compound annual growth rate (CAGR), from $15.16M to $30.5M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Candel Therapeutics, Inc. CADL R&D

R&D at other companies

Bristol-Myers SquibbBMY

$2.65B+17.4%

AmgenAMGN

$1.72B+15.7%

Replimune GroupREPL

$53.14M+10.7%

CG OncologyCGON

$43.73M+59.2%

Immix Biopharma, Inc.IMMX

$5.98M+203%

CytomX TherapeuticsCTMX

$19.24M+2.0%

Other financials

Income statement

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Revenue$31.0K0.0%

Operating income-$16.3M-100%

Net income-$8.9M-220%

EPS (diluted)-$0.14-208%

Balance sheet

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Cash & equivalents$194.8M+111%

Total debt$2.8M-73.9%

Total equity$138.0M+84.8%

Total assets$201.9M+111%

Cash flow

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Operating cash flow-$18.0M-109%

CapEx$675.0K+22,400%

Free cash flow-$18.7M-117%

Valuation

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Market cap$693.87M+192%

Enterprise value$501.88M+220%

P/S5,595.7×-18,674×

Profitability

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Operating margin-28,000.8%+15,050pp

Net margin-15,156.5%-5,064pp

FCF margin-26,383.9%+14,851pp

Returns & leverage

See full

Return on equity-51.2%-16.6pp

Debt / equity0×-0.1×

Current ratio28×+23.4×

Where this comes from

Reported directly by Candel Therapeutics, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Candel Therapeutics, Inc.’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Candel Therapeutics, Inc.'s R&D?: Candel Therapeutics, Inc. (CADL) reported R&D of $9.84M in Q1 2026.
How has Candel Therapeutics, Inc.'s R&D changed year-over-year?: Candel Therapeutics, Inc.'s R&D increased by 145.0% year-over-year, from $4.02M to $9.84M.
What is the long-term trend for Candel Therapeutics, Inc.'s R&D?: Over 4 years (2021 to 2025), Candel Therapeutics, Inc.'s R&D has grown at a 19.1% compound annual growth rate (CAGR), from $15.16M to $30.5M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.