What is CADL's dilution risk score?

CADL has a latest available DilutionScore record of 27/100, categorized as medium dilution risk by the DilutionWatch scoring model. DilutionWatch displays SEC filing and dilution indicators for CADL, including shelf registrations, ATM offerings, warrant exercises, PIPE deals, and reverse split signals when detected in source data.

What SEC filings does DilutionWatch track for CADL?

DilutionWatch tracks 25 SEC filing types for CADL including S-3 shelf registrations, 424B prospectuses (ATM offerings), S-1 registration statements, 8-K material events, warrant exercise notices, convertible note agreements, and Form 4 insider transactions. Alerts are delivered via email within minutes of a filing appearing on EDGAR.

How does stock dilution affect CADL shareholders?

Stock dilution occurs when a company issues new shares, reducing the ownership percentage of existing shareholders. For CADL, common dilution events include at-the-market (ATM) stock offerings, shelf registration drawdowns, warrant exercises, and convertible note conversions. Each event increases the share count and can pressure the stock price lower.

Is DilutionWatch free for CADL tracking?

DilutionWatch provides a free tier that shows DilutionScores and basic filing history for CADL. Premium plans ($19.95/month Basic, $39.95/month Premium) unlock real-time email alerts, the full Pulse™ feed, advanced dilution forecasts, and access to all 10,000+ tracked tickers.

CADL Dilution Risk Score: 27/100 (MEDIUM)

Score Breakdown

📋 Offering Ability

💰 Cash Runway

📊 Float Risk

⚠️ Warrant Exposure

🔄 Convertible Debt

Dilution Forecast

☀️

Clear

No significant dilution signals

model est. 9%

💰 Capital Raise model 18%

• Active ATM program with $100M remaining capacity

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Market Data

Market Cap$748.35M

Shares Outstanding76.52M

Float56.91M

Cash$201.56M

Debt$1.73M

Short InterestN/A

Source-Backed Evidence Depth

This public preview uses stored DilutionWatch fields and linked SEC/market records only. Missing values are not estimated.

Field	Current Value	Basis
DilutionScore	27/100	DilutionWatch score record
Shares Outstanding	76.52M	Verified float table or market cache
Public Float	56.91M	Verified float table or market cache
Market Cap	$748.35M	Market data cache
Cash Runway	52.7 months	DilutionWatch score inputs
Shelf Capacity	None in current score inputs	SEC-derived dilution fields
ATM Capacity	$100.00M	SEC-derived dilution fields
Outstanding Warrants	None in current score inputs	SEC-derived dilution fields

Recent source-backed SEC insight records available on this page: 6.

Recent SEC source mix: 4 4, 8-K 1, XBRL 1.

The page does not infer future share issuance, financing probability, cash needs, management intent, or price impact when source fields are absent.

Institutional Holdings

QoQ: ↑ 95.6% shares (2026Q1 vs prior)

115 institutional holders · 47.20M shares

#1 FMR LLC 10.99M shares

#2 RTW INVESTMENTS, LP 6.42M shares

#3 VANGUARD CAPITAL MANAGEMENT LLC 4.93M shares

+ 17 more holders Sign up free to view →

Institutional holder totals are aggregated from ownership filings and may use a different share basis or reporting date than public float. They are not a reconciliation against tradeable float.

Short Interest

Short Interest13.00M

Days to Cover11.2

% of Float22.8%

FINRA data as of Sep 30, 2026

Recent SEC Activity

xbrl XBRL WARRANT 2026-03-12

4 INSIDER TRANSACTION 2026-04-02

4 INSIDER TRANSACTION 2026-02-26

Full SEC filing analysis available with free account →

Recent News

No recent news available for this ticker.

Factual CADL Dilution Snapshot

Candel Therapeutics, Inc. (CADL) has a DilutionScore of 27/100, rated Medium dilution risk. Score date: October 13, 2026.

Stored ATM program remaining capacity: $100.0M.
Recent SEC activity tracked for CADL: 4 on 2026-04-02; 4 on 2026-04-02; 4 on 2026-04-02.

This automatically generated snapshot is assembled from stored DilutionWatch data fields and may contain data-source errors or omissions. It is not financial advice, not investment research, and not a recommendation. Do your own research and review the full disclaimer and terms of service.

DilutionScore History — Last 90 Days

CADL's DilutionScore is currently 27/100 (Medium risk), with 1 score change tracked over 89 days. The score deteriorated from 30/100 (Medium risk).

Period	Score	Risk Level	Duration
Aug 14 – Oct 13, 2026	27/100	MEDIUM	60 days
Jul 16 – Aug 13, 2026	30/100	MEDIUM	29 days

Score recalculated daily from SEC filings and market data. Sign up free for real-time score change alerts.

Share Dilution History

CADL shares outstanding have increased 0.0% from 73.25M (Mar 2026) to 73.27M (May 2026). Each increase represents potential dilution to existing shareholders.

Date	Shares Outstanding	Public Float	Change
May 18, 2026	73.27M	56.91M	▼ 10.14%
May 15, 2026	73.27M	63.33M	▲ 0.03%
Mar 13, 2026	73.25M	63.31M	▲ 33.42%
Mar 09, 2026	73.25M	47.45M	▼ 0.86%

Share counts sourced from verified regulatory filings. Increases indicate dilution events.

Track CADL Dilution Risk in Real-Time

DilutionWatch monitors SEC filings 24/7 and alerts you the moment CADL files a shelf registration, ATM offering, warrant notice, or convertible note. Free tier available — no credit card required.

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