Candel Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

NEEDHAM, Mass., Nov. 02, 2026 (GLOBE NEWSWIRE) -- Candel Therapeutics, Inc. (Candel or the Company) (Nasdaq: CADL), a clinical-stage biopharmaceutical company focused on developing multimodal immunotherapies to improve disease outcomes for patients with cancer, today announced that on October 31, 2026, the Compensation Committee of Candel's Board of Directors (the Board) granted to 4 new employees, stock options to purchase an aggregate of 107,600 shares of the Company's common stock, with a per share exercise price of $8.33.

The inducement stock options were made under the Company's 2025 Inducement Plan (the Plan) and will vest with respect to 25% of the shares of common stock underlying the award on the first anniversary of the employee's start date, and the remaining 75% of the shares of common stock underlying the inducement stock options will vest in 36 equal monthly installments thereafter. All vesting related to inducement awards is subject to the employees' continuing service at the Company through the applicable vesting date.