The biopharmaceutical company reported an operating loss of $23 million, or 28 cents a share, compared with $13.2 million, or 21 cents, in the same quarter a year earlier. Operating expenses nearly doubled to $23 million from $13.2 million.

Candel said it remains in dialogue with the FDA about a biologics license application for aglatimagene as a treatment for prostate cancer. The company plans to submit the application in the middle of 2027, depending on the outcome of those discussions.

The stock was down 9% at Thursday’s market close and has gained 49% this year.