Candel Therapeutics (CADL) Operating Expenses (2020 - 2025)
Candel Therapeutics (CADL) posted Operating Expenses of $15.8 million for Q4 2025, up 19.27% sequentially from $13.2 million in Q3 2025, and up 93.49% YoY from $8.1 million in Q4 2024.
Candel Therapeutics (CADL) Operating Expenses (2020 - 2025) Analysis & Trends
Candel Therapeutics has reported Operating Expenses for 6 years, with the latest figure at $15.8 million in Q4 2025.
- Quarterly Operating Expenses rose 93.49% year-over-year to $15.8 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $48.3 million (up 44.63% YoY) and the FY2025 annual result came in at $48.3 million, up 44.63% from the prior year.
- Operating Expenses rose to $15.8 million in Q4 2025 per CADL's latest filing, from $13.2 million in the prior quarter.
- Over five years, Operating Expenses peaked at $15.8 million in Q4 2025 and troughed at $4.7 million in Q1 2021.
- A 5-year average of $9.0 million and a median of $8.8 million in 2022 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2021 and 2024: Operating Expenses jumped 189.93% in 2021, then slipped 21.1% in 2024.
- Over 5 years, Operating Expenses stood at $7.8 million in 2021, then gained by 4.65% to $8.1 million in 2022, then gained by 26.88% to $10.3 million in 2023, then slipped by 21.1% to $8.1 million in 2024, then surged by 93.49% to $15.8 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered $15.8 million, $13.2 million, and $11.2 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 2.89 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 505.13 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 1.21 Bn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 4,978.15 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 541.02 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 1.06 Bn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 427.03 Mn |
| 10 | Candel Therapeutics | 643.41 Mn | 643.41 Mn | - | 15.75 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 15.75 Mn |
| Sep 30, 2025 | 13.21 Mn |
| Jun 30, 2025 | 11.18 Mn |
| Mar 31, 2025 | 8.13 Mn |
| Dec 31, 2024 | 8.14 Mn |
| Sep 30, 2024 | 8.76 Mn |
| Jun 30, 2024 | 8.57 Mn |
| Mar 31, 2024 | 7.90 Mn |
| Dec 31, 2023 | 10.32 Mn |
| Sep 30, 2023 | 8.86 Mn |
| Jun 30, 2023 | 9.58 Mn |
| Mar 31, 2023 | 9.63 Mn |
| Dec 31, 2022 | 8.13 Mn |
| Sep 30, 2022 | 8.91 Mn |
| Jun 30, 2022 | 8.78 Mn |
| Mar 31, 2022 | 9.02 Mn |
| Dec 31, 2021 | 7.77 Mn |
| Sep 30, 2021 | 8.06 Mn |
| Jun 30, 2021 | 5.33 Mn |
| Mar 31, 2021 | 4.69 Mn |