Candel Therapeutics is a clinical-stage biopharmaceutical company developing off-the-shelf viral immunotherapies designed to trigger systemic anti-tumor immune responses by engineering viruses to induce immunogenic cell death within tumors. The company's lead product, aglatimagene, is a replication-defective adenovirus administered with a widely available antiviral prodrug, with clinical development focused on localized prostate cancer, non-small cell lung cancer with inadequate checkpoint inhibitor response, and pancreatic cancer, supported by a complementary pipeline including a replication-competent herpes simplex virus platform for recurrent glioma. Candel intends to commercialize through a capital-efficient, externalized model leveraging specialist partners and clinical networks, with revenue generation dependent on regulatory approval and subsequent product sales, supplemented by milestone payments and royalties from strategic agreements.