HIGHBuilt-in & outside partyPipeline
aglatimagene
“10-K Item 1: 'Our most advanced product candidate, aglatimagene besadenovec (referred to herein as aglatimagene and previously as CAN-2409), is an off-the-shelf adenovirus product candidate'”
CADL · Concentration risk · 10-K extracted
Candel Therapeutics (CADL) concentration risks
Updated
The most significant concentration Candel Therapeutics discloses is aglatimagene, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Candel Therapeutics’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partySupplier
third party contract manufacturers
“10-K Item 1: 'We will rely on third party contract manufacturers for commercial-scale manufacturing of both product candidates, aglatimagene and linoserpaturev.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Candel Therapeutics' concentration risk is twofold and interlinked. On the pipeline side, aglatimagene besadenovec (aglatimagene, previously CAN-2409) is described as the company's most advanced product candidate, meaning near-term value is disproportionately tied to a single asset's clinical and regulatory outcomes. On the operational side, the company discloses it will rely on third-party contract manufacturers for commercial-scale production of both aglatimagene and linoserpaturev, a dependency-type exposure rather than a structural one — the risk here is counterparty performance and manufacturing continuity, not company-wide business mix. These two exposures compound one another: a manufacturing disruption at a third-party contractor would hit precisely the candidate the company is most dependent on for commercial success. Neither concentration is offset by a second manufacturing source or a second late-stage asset disclosed in these filings, so there is limited internal diversification to cushion either risk. For a clinical-stage biotech, this combination — single-asset pipeline concentration plus third-party manufacturing dependency — is a common but material profile; investors should treat manufacturing execution as the more idiosyncratic of the two risks, with pipeline concentration being the broader structural one.
For the engine’s reasoning on CADL’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Biotechnology
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ABUS | Arbutus Biopharma Corporation | 1 | 1 | 0 | 2 |
| CADL● | Candel Therapeutics, Inc. | 1 | 1 | 0 | 2 |
| ABSI | Absci Corporation | 1 | 0 | 0 | 1 |
| ABCL | AbCellera Biologics Inc. | 0 | 0 | 0 | 0 |
| ACHV | Achieve Life Sciences, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.