** Shares of Candel Therapeutics CADL.O down 17% to $8.13 post-market as co looks to raise equity after its stock popped this week
** Needham, Massachusetts-based firm launches $80 mln offering comprising stock and pre-funded warrants
** On Weds, CADL shares surged 68% to close at $7.75 after co said its prostate cancer therapy, CAN-2409, met main goal in late-stage study
** Stock finished up 26.5% at $9.80 on Thurs
** Co plans to use net offering proceeds to prepare submission of a Biologics License Application for CAN-2409, and for general purposes
** Citigroup, BofA and Canaccord Genuity jt bookrunners for offering
** With ~32.5 mln shares outstanding, co has roughly $320 mln market cap
** Stock ended 2023 at $1.47
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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