Candel Therapeutics Joins Russell 3000 Index, Despite Cumulative Net Loss
Candel Therapeutics, a clinical stage biopharmaceutical company focused on cancer immunotherapies, has announced its inclusion in the broad-market Russell 3000 Index. The decision was made during the 2024 Russell US Indexes annual reconstitution, with the company set to join the index at the open of US equity markets on July 1, 2024. This development was based on a preliminary list of additions published on May 24, 2024.
Despite its achievement, Candel Therapeutics Inc has experienced a cumulative net loss of $-32 million in the 12-month period ending in the third quarter of 2023. This has resulted in a negative return on investment (ROI) of -56.92%. In comparison, among companies within the Healthcare sector, there are 618 others that have shown higher ROIs.
However, there is some positive news for Candel Therapeutics as its overall ROI ranking has improved. As of September 30, 2023, the company’s ROI ranking has progressed to 3984 from its previous ranking of 4074 in the second quarter of 2023.
Despite its financial challenges, Candel Therapeutics has secured a spot in the prestigious Russell 3000 Index. As the company continues to focus on developing multimodal biological immunotherapies to combat cancer, this inclusion in the index reflects recognition and potential for growth in the market.
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