Francesca Barone, the Chief Scientific Officer of Candel Therapeutics, Inc. (NASDAQ:CADL), a $148 million market cap biotechnology company, recently sold 22,081 shares of the company at an average price of $4.5556 per share, amounting to a total transaction value of $100,592. The stock has shown remarkable performance, surging over 400% in the past year despite the company's weak financial health score according to InvestingPro analysis. This transaction, recorded on November 29, was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as per the company's mandatory sell-to-cover policy. Following this sale, Barone retains ownership of 137,880 shares in the company. InvestingPro analysis reveals the company is currently burning through cash rapidly, with 8 additional key insights available to subscribers.
In other recent news, Milestone Pharmaceuticals (NASDAQ:MIST) has announced the addition of Joseph Papa to its Board of Directors. Papa, with over three decades of experience in the pharmaceutical industry, is expected to contribute significantly to the company's strategic direction. Among the recent developments, the company is actively pursuing the approval of its investigational drug, CARDAMYST™, designed to treat paroxysmal supraventricular tachycardia.
Turning to Candel Therapeutics, the company's recent earnings and revenue results have contributed to its inclusion in the Russell 3000 Index, a development that is expected to enhance investor visibility. The FDA has granted Orphan Drug Designation to the company's investigational therapy, CAN-3110, for the treatment of recurrent high-grade glioma. Another promising candidate, CAN-2409, has shown encouraging results in clinical trials for non-small cell lung cancer and pancreatic cancer.
In terms of governance, the re-election of three Class III directors and the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, are among the recent actions taken by Candel Therapeutics. These and other developments underscore the ongoing progress at both Milestone (WA:MMD) Pharmaceuticals and Candel Therapeutics.
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