Candel Therapeutics, Inc. (NASDAQ:CADL) recently disclosed that its Chief Medical (TASE:PMCN) Officer, William Garrett Nichols, sold 13,935 shares of the company's common stock. The shares were sold at an average price of $4.5556 per share, totaling approximately $63,482. This transaction took place on November 29, 2024. The sale comes amid a remarkable year for CADL, which has seen its stock surge over 400% year-to-date, according to InvestingPro data, despite a 45% decline in the past six months.
According to the filing, the sale was not discretionary but was made to cover tax withholding obligations related to the vesting of restricted stock units. Following the transaction, Nichols retains ownership of 100,547 shares of Candel Therapeutics, representing a significant stake in the $148 million market cap company. InvestingPro subscribers can access 8 additional key insights about CADL, including detailed insider trading patterns and company health metrics.
In other recent news, Milestone Pharmaceuticals (NASDAQ:MIST) has announced the appointment of Joseph Papa, a seasoned pharmaceutical industry leader, to its Board of Directors. Papa brings a wealth of experience from his roles at companies such as Bausch + Lomb, Bausch Health, and Perrigo, and is expected to contribute significantly to Milestone (WA:MMD)'s strategic direction. This development comes as the company anticipates potential FDA approval of its investigational drug, CARDAMYST™, a treatment for paroxysmal supraventricular tachycardia.
Meanwhile, Candel Therapeutics has seen a series of significant developments, including favorable earnings and revenue results. The company's market capitalization growth has led to its inclusion in the Russell 3000 Index, a move expected to enhance investor visibility. Additionally, Candel's investigational therapy, CAN-3110, has been granted Orphan Drug Designation by the FDA for the treatment of recurrent high-grade glioma.
Candel Therapeutics also reported promising results from clinical trials of its immunotherapy candidate, CAN-2409, for non-small cell lung cancer and pancreatic cancer, leading to another Orphan Drug Designation for the treatment of pancreatic cancer. The company has also re-elected three Class III directors and ratified the appointment of KPMG LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2024. These recent developments highlight the ongoing progress at both Milestone Pharmaceuticals and Candel Therapeutics.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.