Candel Therapeutics (CADL) Operating Expenses (2020 - 2025)

Candel Therapeutics' Operating Expenses history runs 6 years deep, the most recent figure standing at $15.8 million for Q4 2025.

• In Q4 2025, Operating Expenses rose 93.49% year-over-year to $15.8 million; the TTM figure through Dec 2025 stood at $48.3 million (up 44.63% YoY), while the FY2025 annual figure was $48.3 million, up 44.63% from the prior year.
• Operating Expenses came in at $15.8 million for Q4 2025 at Candel Therapeutics, up from $13.2 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $15.8 million in Q4 2025 to a low of $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.
• Across the five-year window, Operating Expenses soared 189.93% in 2021 and decreased 21.1% in 2024, its largest moves.
• Candel Therapeutics' Operating Expenses stood at $7.8 million in 2021, then rose by 4.65% to $8.1 million in 2022, then rose by 26.88% to $10.3 million in 2023, then decreased by 21.1% to $8.1 million in 2024, then jumped 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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