Quick Answer
Candel Therapeutics, Inc. reported R&D Expense of $30.50 million for fiscal year 2025.
Candel Therapeutics, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $30.50M | +57.9% |
| 2024 | $19.31M | -21.2% |
| 2023 | $24.51M | +17.9% |
| 2022 | $20.79M | +37.0% |
| 2021 | $15.18M | +73.4% |
| 2020 | $8.75M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $8.46M | +56.2% | +21.0% |
| June 30, 2025 | $6.99M | +40.4% | +74.1% |
| March 31, 2025 | $4.02M | -2.1% | -25.8% |
| September 30, 2024 | $5.42M | -7.3% | +8.8% |
| June 30, 2024 | $4.98M | -16.1% | +21.4% |
| March 31, 2024 | $4.10M | -25.0% | -29.8% |
| September 30, 2023 | $5.84M | +8.7% | -1.5% |
| June 30, 2023 | $5.93M | +18.2% | +8.5% |
- Candel Therapeutics, Inc. showed an increase of +57.9% in R&D Expense compared to the prior fiscal year.
- Over the 2020–2025 period, Candel Therapeutics, Inc.’s r&d expense has grown by 248.4% (from $8.75 million to $30.50 million).
- The most recent figure is from Candel Therapeutics, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 12, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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