Adaptive Biotechnologies Corp.

SEATTLE, May 05, 2026 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (“Adaptive Biotechnologies”) (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today reported financial results for the quarter ended March 31, 2026. “We delivered strong first quarter results based on accelerating adoption of MRD across both clinical testing and drug development. Our performance reinforces our market leadership position and the differentiated value of our platform,” said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. “With disciplined execution and multiple growth drivers in place, we are well positioned to sustain our growth trajectory and create long-term value.” Recent Highlights Revenue for the first quarter of 2026 was $70.9 million. The MRD business, which contributed 95% of revenue, grew 53% versus the first quarter of 2025. clonoSEQ ® test volume in the first quarter of 2026 increased 41% to 32,595 tests delivered versus the first quarter of 2025. Recognized $9.0 million in MRD pharma regulatory milestone revenue, the first U.S. primary endpoint milestone. Raising full year 2026 MRD revenue guidance to a new range of $260 million to $270 million, implying annual growth of 22% to 27%. First Quarter 2026 Financial Results Revenue was $70.9 million for the quarter ended March 31, 2026, representing a 35% increase from the first quarter in the prior year. Excluding revenue recognized under the Genentech Agreement, which did not generate revenue in the quarter ended March 31, 2026, revenue for the current quarter increased 45% from the first quarter in the prior year. MRD revenue was $67.1 million for the quarter, representing a 53% increase from the first quarter in the prior year. Immune Medicine revenue was $3.8 million for the quarter, representing a 57% decrease from the first quarter in the prior year. Excluding revenue from the Genentech Agreement, Immune Medicine revenue for the quarter ended March 31, 2026 decreased 26% from the first quarter in the prior year. Operating expenses for the first quarter of 2026 were $90.1 million, compared to $82.0 million in the first quarter of the prior year, representing an increase of 10%. Interest and other income, net was $2.1 million for the first quarter of 2026, compared to $2.7 million in the first quarter of the prior year. Interest expense from our revenue interest purchase agreement was $2.9 million in both the first quarter of 2026 and the first quarter of the prior year. Net loss was $20.0 million for the first quarter of 2026, compared to $29.8 million for the same period in 2025. Excluding revenue generated from the Genentech Agreement, net loss was $33.4 million for the first quarter of 2025. Adjusted EBITDA (non-GAAP) was a loss of $2.5 million for the first quarter of 2026, compared to a loss of $12.7 million for the first quarter of the prior year. Excluding revenue generated from the Genentech Agreement, Adjusted EBITDA was a loss of $16.3 million for the first quarter of 2025. Cash, cash equivalents and marketable securities was 237.2 million as of March 31, 2026, inclusive of $15.3 million of cash and cash equivalents held by Digital Biotechnologies, Inc. 2026 Updated Financial Guidance Adaptive Biotechnologies expects full year revenue for the MRD business to be between $260 million and $270 million, updated from the previous range between $255 million and $265 million. No revenue guidance is provided for the Immune Medicine business. We expect full year total company operating expenses, including cost of revenue, to be between $350 million and $360 million. Management will provide further details on the outlook during the conference call. Webcast and Conference Call Information Adaptive Biotechnologies will host a conference call to discuss its first quarter 2026 financial results after market close on Tuesday, May 5, 2026 at 4:30 PM Eastern Time. The conference call can be accessed at . The webcast will be archived and available for replay at least 90 days after the event. About Adaptive Biotechnologies Adaptive Biotechnologies (“we” or “our”) is a commercial-stage biotechnology company focused on harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. We believe the adaptive immune system is nature’s most finely tuned diagnostic and therapeutic for most diseases, but the inability to decode it has prevented the medical community from fully leveraging its capabilities. Our proprietary immune medicine platform reveals and translates the massive genetics of the adaptive immune system with scale, precision and speed. We apply our platform to partner with biopharmaceutical companies, inform drug development, and develop clinical diagnostics across our two business segments: Minimal Residual Disease (MRD) and Immune Medicine. Our commercial products and clinical pipeline enable the diagnosis, monitoring, and treatment of diseases such as cancer and autoimmune disorders. Our goal is to develop and commercialize immune-driven clinical products tailored to each individual patient. Forward-Looking Statements This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts and other matters regarding our business strategies, use of capital, results of operations and financial position and plans and objectives for future operations. In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law. Use of Non-GAAP Financial Measure To supplement our unaudited condensed consolidated statements of operations and unaudited condensed consolidated balance sheets, which are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”), this press release also includes references to Adjusted EBITDA, which is a non-GAAP financial measure that we define as net loss attributable to Adaptive Biotechnologies Corporation adjusted for interest and other income, net, interest expense, income tax (expense) benefit, depreciation and amortization expense, impairment costs for long-lived assets, restructuring expense and share-based compensation expense. We define our segment Adjusted EBITDA in the same way to the extent the net loss attributable to Adaptive Biotechnologies Corporation and adjustments are allocable to each segment. We have provided reconciliations of net loss attributable to Adaptive Biotechnologies Corporation, the most directly comparable GAAP financial measure, to Adjusted EBITDA at the end of this press release. Management uses Adjusted EBITDA, including segment Adjusted EBITDA, to evaluate the financial performance of our business and segments and to evaluate the effectiveness of our strategies. We present these figures because we believe it is frequently used by analysts, investors and other interested parties to evaluate companies in our industry and it facilitates comparisons on a consistent basis across reporting periods. Further, we believe it is helpful in highlighting trends in our operating results because it excludes items that are not indicative of our core operating performance. Adjusted EBITDA, including segment Adjusted EBITDA, has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. We may in the future incur expenses similar to the adjustments we make. In particular, we expect to incur meaningful share-based compensation expense in the future. Other limitations include that Adjusted EBITDA, including segment Adjusted EBITDA, does not reflect: all expenditures or future requirements for capital expenditures or contractual commitments; changes in our working capital needs; interest expense, which is an ongoing element of our costs to operate; income tax (expense) benefit, which may be a necessary element of our costs and ability to operate; the costs of replacing the assets being depreciated and amortized, which will often have to be replaced in the future; the noncash component of employee compensation expense; long-lived assets impairment costs; and the impact of earnings or charges resulting from matters we consider not to be reflective, on a recurring basis, of our ongoing operations, such as our restructuring activities and reductions in workforce. In addition, Adjusted EBITDA, including segment Adjusted EBITDA, may not be comparable to similarly titled measures used by other companies in our industry or across different industries. ADAPTIVE INVESTORS Karina Calzadilla, Vice President, Investor Relations and FP&A 201-396-1687 investors@adaptivebiotech.com ADAPTIVE MEDIA Erica Jones, Associate Corporate Communications Director 206-279-2423 media@adaptivebiotech.com Adaptive Biotechnologies Condensed Consolidated Statements of Operations (in thousands, except share and per share amounts) (unaudited) Three Months Ended March 31, 2026 2025 Revenue $ 70,874 $ 52,443 Operating expenses Cost of revenue 18,708 16,979 Research and development 23,623 24,203 Sales and marketing 26,346 23,047 General and administrative 20,984 17,399 Amortization of intangible assets 419 419 Total operating expenses 90,080 82,047 Loss from operations (19,206 ) (29,604 ) Interest and other income, net 2,080 2,679 Interest expense (2,889 ) (2,905 ) Net loss (20,015 ) (29,830 ) Add: Net income attributable to noncontrolling interest (18 ) (22 ) Net loss attributable to Adaptive Biotechnologies Corporation $ (20,033 ) $ (29,852 ) Net loss per share attributable to Adaptive Biotechnologies Corporation common shareholders, basic and diluted $ (0.13 ) $ (0.20 ) Weighted-average shares used in computing net loss per share attributable to Adaptive Biotechnologies Corporation common shareholders, basic and diluted 155,521,048 149,195,028 Adaptive Biotechnologies Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) March 31, 2026 December 31, 2025 (unaudited) Assets Current assets Cash and cash equivalents $ 77,581 $ 70,495 Short-term marketable securities (amortized cost of $140,762 and $156,246, respectively) 140,753 156,485 Accounts receivable, net 48,315 50,365 Inventory 11,206 9,820 Prepaid expenses and other current assets 13,952 13,020 Total current assets 291,807 300,185 Long-term assets Property and equipment, net 30,774 34,107 Operating lease right-of-use assets 40,248 40,616 Long-term marketable securities (amortized cost of $18,908 and $13,220, respectively) 18,889 13,234 Restricted cash 2,709 2,689 Intangible assets, net 1,307 1,726 Goodwill 118,972 118,972 Other assets 1,237 1,207 Total assets $ 505,943 $ 512,736 Liabilities and shareholders’ equity Current liabilities Accounts payable $ 9,615 $ 6,467 Accrued liabilities 7,465 7,700 Accrued compensation and benefits 6,217 16,992 Current portion of operating lease liabilities 8,513 8,920 Current portion of deferred revenue 49,397 45,194 Current portion of revenue interest liability, net 5,804 4,642 Total current liabilities 87,011 89,915 Long-term liabilities Operating lease liabilities, less current portion 69,115 70,228 Deferred revenue, less current portion 807 1,006 Revenue interest liability, net, less current portion 124,749 126,566 Other long-term liabilities 20 20 Total liabilities 281,702 287,735 Commitments and contingencies Shareholders’ equity Preferred stock: $0.0001 par value, 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025 — — Common stock: $0.0001 par value, 340,000,000 shares authorized at March 31, 2026 and December 31, 2025; 159,697,221 and 153,779,418 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 16 15 Additional paid-in capital 1,599,708 1,581,848 Accumulated other comprehensive (loss) gain (28 ) 253 Accumulated deficit (1,383,356 ) (1,363,323 ) Total Adaptive Biotechnologies Corporation shareholders’ equity 216,340 218,793 Noncontrolling interest 7,901 6,208 Total shareholders’ equity 224,241 225,001 Total liabilities and shareholders’ equity $ 505,943 $ 512,736 Adjusted EBITDA The following is a reconciliation of net loss attributable to Adaptive Biotechnologies Corporation, the most directly comparable GAAP financial measure, to Adjusted EBITDA for the periods presented (in thousands, unaudited): Three Months Ended March 31, 2026 2025 Net loss attributable to Adaptive Biotechnologies Corporation $ (20,033 ) $ (29,852 ) Interest and other income, net (2,080 ) (2,679 ) Interest expense 2,889 2,905 Depreciation and amortization expense 3,837 4,731 Impairment of long-lived assets 347 — Restructuring expense 643 — Share-based compensation expense 11,928 12,147 Adjusted EBITDA $ (2,469 ) $ (12,748 ) Segment Information (Including Segment Adjusted EBITDA) The following sets forth segment information for the periods presented (in thousands, unaudited): Three Months Ended March 31, 2026 2025 MRD: Revenue $ 67,093 $ 43,721 Adjusted EBITDA 12,138 (4,111 ) Reconciliation of Net Income (Loss) to Adjusted EBITDA: Net income (loss) $ 3,362 $ (12,238 ) Depreciation and amortization expense 2,381 2,663 Impairment of long-lived assets — — Restructuring expense 248 — Share-based compensation expense 6,147 5,464 Adjusted EBITDA $ 12,138 $ (4,111 ) Immune Medicine ( 1) : Revenue $ 3,781 $ 8,722 Adjusted EBITDA (10,360 ) (5,106 ) Reconciliation of Net Loss to Adjusted EBITDA: Net loss $ (15,929 ) $ (10,919 ) Depreciation and amortization expense 1,005 1,623 Impairment of long-lived assets 347 — Restructuring expense 395 — Share-based compensation expense 3,822 4,190 Adjusted EBITDA $ (10,360 ) $ (5,106 ) (1) Expenses related to Digital Biotechnologies, Inc. are no longer included in the Immune Medicine segment.

Extended long-term survival observed after an additional year of follow-up in ongoing phase 2a clinical trial, with 50% of 46 patients with advanced non-small cell lung cancer (NSCLC) treated with aglatimagene besadenovec (aglatimagene or CAN-2409) surviving beyond 24 months, despite prior inadequate response to immune checkpoint inhibitors (ICI) and multiple adverse baseline prognostic factors. Among the patients surviving beyond 24 months and with PD-L1 status available, (17/20) 85% had baseline PD-L1 tumor proportion scores (TPS) below 50% (a population typically less responsive to ICI), supporting the potential of aglatimagene to upregulate PD-L1 in the tumor microenvironment and convert non-responders to ICI into responders. Median overall survival (mOS) was 25.4 months in the evaluable patients with inadequate response to ICI in cohorts 1 and 2 (per-protocol population), 21.5 months among evaluable patients exhibiting progressive disease at baseline despite prior ICI therapy (cohort 2), and 25.4 months in patients with non-squamous histology within cohort 2, supporting the rationale for a precision medicine-based design for the phase 3 pivotal study planned for initiation in Q2 2026. Post-treatment tumor biopsies demonstrated an increase in pro-inflammatory gene expression, which was significantly associated with long-term survival, supporting activation of inflammatory pathways within the tumor microenvironment following aglatimagene treatment. Expansion of T-cell receptor (TCR) repertoire diversity was observed after treatment both within the tumor and in peripheral blood, consistent with broad activation of anti-tumor immunity through enhanced exposure of tumor antigens following aglatimagene therapy. NEEDHAM, Mass., March 17, 2026 (GLOBE NEWSWIRE) -- Candel Therapeutics, Inc. (Candel or the Company) (Nasdaq: CADL), a clinical-stage biopharmaceutical company focused on developing multimodal immunotherapies to help patients with cancer, today announced an additional 12 months of extended follow-up from its study of aglatimagene plus valacyclovir in combination with continued ICI therapy in patients with advanced NSCLC who had an inadequate response to prior ICI treatment. Among the 46 patients who received two administrations of aglatimagene (per-protocol population), 23 patients (50%) remained alive at 24 months. Additionally, 16 patients (35%) survived beyond 30 months, 12 patients (26%) survived beyond 36 months, 11 patients (24%) survived beyond 40 months, and 6 patients (13%) exceeded 50 months of survival. These outcomes represent an improvement from the prior data cut, in which 39% of the patients in the per-protocol population were alive at 24 months, with 10 patients surviving beyond 30 months, 6 patients each beyond 36 and 40 months, and 2 patients beyond 50 months. The extended follow-up further highlights the durability of anti-tumor immunity observed with aglatimagene-based therapy, and the persistence of a long-term survival tail in this difficult-to-treat population. Histologic analysis of available baseline and tumor biopsies demonstrated that among evaluable patients surviving beyond 24 months and with PD-L1 status available , (17/20) 85% had baseline PD-L1 TPS below 50% (a population typically less responsive to ICI). These findings highlight the ability of aglatimagene to convert immunologically “cold,” ICI-resistant tumors into immune-active microenvironments. mOS was 25.4 months among 46 evaluable patients who received two courses of aglatimagene (per-protocol population; cohorts 1 and 2). Among evaluable patients with progressive disease at baseline despite prior ICI therapy (cohort 2, n=41), mOS was 21.5 months, and 25.4 months in patients within cohort 2 with non-squamous histology (n=33). These outcomes compare favorably with historical reference mOS of 9.8–11.8 months reported for patients with progressive disease following ICI treatment receiving standard-of-care docetaxel 1,2 , representing approximately a two-fold improvement in mOS in this difficult-to-treat population. Aglatimagene maintained its generally favorable tolerability pro the extended follow-up period. Molecular profiling of paired baseline and post-treatment tumor biopsies revealed that long-term survivors exhibited robust upregulation of genes associated with sustained immune activation and antigen presentation. In particular, enhanced interferon signaling and activation of myeloid and antigen-presenting cell programs were observed, including significant increases in the expression of IFNγ, CSF1, CX3CL1, and IL1β (p = 0.010, 0.026, 0.013, and 0.034, respectively). These findings reflect increased local inflammation and recruitment of immune effector populations within the tumor microenvironment following aglatimagene treatment and may have contributed to the durable anti-tumor immune responses observed in long-term survivors. “These updated survival data further strengthen our previously reported findings, demonstrating the potential of aglatimagene to meaningfully extend survival for patients with advanced NSCLC who have limited treatment options after failing to respond to, or progressing despite, ICI therapy,” said Paul Peter Tak, MD, PhD, FMedSci, President and Chief Executive Officer of Candel Therapeutics. “With its differentiated mechanism of action and favorable safety pro to date, aglatimagene represents a novel therapeutic approach for solid tumors, with the potential to improve outcomes beyond current standards of care. These compelling results reinforce our commitment to advancing this program as we continue to develop new treatment options for patients facing this aggressive disease.” “The biomarker data presented here reinforces the multimodal anti-tumor activity of aglatimagene,” said Francesca Barone, PhD, Chief Scientific Officer of Candel Therapeutics. “Consistent with its proposed prime-boost mechanism, we observed expansion of T-cell receptor diversity in both tumor tissue and peripheral blood following treatment, reflecting a broadening of the adaptive immune response. Notably, similar TCR repertoire expansion was previously reported in patients with glioblastoma treated with aglatimagene (see link: Neuro Oncol 2025;27:2617-2631 ), supporting a consistent immunologic signature across tumor types. Together with the observed activation of interferon signaling and antigen-presentation pathways, these findings highlight aglatimagene’s ability to drive both local and systemic anti-tumor immunity.” Based on these findings, together with a strong supporting mechanistic data package, the Company plans to advance this program into a pivotal phase 3 clinical trial in patients with NSCLC with non-squamous histology, with trial initiation expected in the second quarter of 2026. The U.S. Food and Drug Administration (FDA) has previously granted Fast Track designation for aglatimagene plus valacyclovir in combination with ICI therapy for the treatment of patients with stage III/IV NSCLC who are resistant to first-line PD-(L)1 inhibitor therapy and who do not harbor activating molecular driver mutations, or who have progressed on directed molecular therapy. About aglatimagene besadenovec (CAN-2409) Aglatimagene, Candel’s most advanced multimodal biological immunotherapy candidate, is an investigational, off-the-shelf, replication-defective adenovirus designed to deliver the herpes simplex virus thymidine kinase (HSV-tk) gene to a patient’s tumor. After intratumoral administration, HSV-tk enzyme activity results in conversion of prodrug (valacyclovir) into deoxyribonucleic acid (DNA)-incorporating nucleotide analogs, leading to immunogenic cell death in cells exhibiting DNA damage and proliferating cells, with subsequent release of a variety of tumor (neo)antigens in the tumor microenvironment. At the same time, the adenoviral serotype 5 capsid proteins promote inflammation through the induction of expression of pro-inflammatory cytokines, chemokines, and adhesion molecules. Together, this regimen is designed to induce an individualized and specific CD8+ T cell-mediated response against the injected tumor and uninjected distant metastases for broad anti-tumor activity, based on in situ immunization against a variety of tumor antigens. Aglatimagene has the potential to treat a broad range of solid tumors. Encouraging monotherapy activity as well as combination activity with standard of care radiotherapy, surgery, chemotherapy, and immune checkpoint inhibitors have previously been shown in several preclinical and clinical settings. More than 1,000 patients have been dosed with aglatimagene in clinical trials with a favorable tolerability pro date, supporting the potential for combination with standard of care, when indicated. About Candel Therapeutics Candel is a clinical-stage biopharmaceutical company focused on developing off-the-shelf multimodal biological immunotherapies that elicit an individualized, systemic anti-tumor immune response to help patients fight cancer. Candel has established two clinical-stage multimodal biological immunotherapy platforms based on novel, genetically modified adenovirus and herpes simplex virus (HSV) gene constructs, respectively. Aglatimagene is the lead product candidate from the adenovirus platform. The Company recently completed successful phase 2a clinical trials of aglatimagene in NSCLC and pancreatic ductal adenocarcinoma (PDAC), and a pivotal, placebo-controlled, phase 3 clinical trial of aglatimagene in localized prostate cancer, conducted under a Special Protocol Assessment agreed with the FDA. The FDA also granted Fast Track Designation and Regenerative Medicine Advanced Therapy Designation to aglatimagene for the treatment of newly diagnosed localized prostate cancer in patients with intermediate-to high-risk disease, Fast Track Designation in NSCLC, and both Fast Track Designation and Orphan Drug Designation to aglatimagene for the treatment of PDAC. Linoserpaturev (CAN-3110) is the lead product candidate from the HSV platform and is currently in an ongoing phase 1b clinical trial in recurrent high-grade glioma, evaluating the effects of repeat linoserpaturev injections. Initial results were published in Nature and Science Translational Medicine and linoserpaturev received Fast Track Designation and Orphan Drug Designation from the FDA. Finally, Candel’s enLIGHTEN™ Discovery Platform is a systematic, iterative HSV-based discovery platform leveraging human biology and advanced analytics to create new viral immunotherapies for solid tumors. For more information about Candel, visit: . Funding for TCR sequencing and Nanostring work was provided by the Partnership for Accelerating Cancer Therapies (PACT), facilitated by the Foundations for the NIH (FNIH), and the National Cancer Institute-supported CIMAC-CIDC Network. T-cell receptor sequencing was performed by Adaptive Biotechnologies. NCI support: Scientific and financial support for the Cancer Immune Monitoring and Analysis Centers-Cancer Immunologic Data Commons (CIMAC-CIDC) Network are provided through the National Cancer Institute (NCI) Cooperative Agreements, U24CA224319 (to the Icahn School of Medicine at Mount Sinai CIMAC), U24CA224331 (to the Dana-Farber Cancer Institute CIMAC), U24CA224285 (to the MD Anderson Cancer Center CIMAC), U24CA224309 (to the Stanford University CIMAC), and U24CA224316 (to the CIDC at Dana-Farber Cancer Institute), and through NCI contract 140D0421D0007 to the CIDC operated by NCI. PACT support: Scientific and financial support for the Partnership for Accelerating Cancer Therapies (PACT) public-private partnership (PPP) was made possible through funding support provided to the FNIH by: AbbVie Inc., Amgen Inc., Boehringer-Ingelheim Pharma GmbH & Co. KG., Bristol-Myers Squibb, Celgene Corporation, Genentech Inc., Gilead, GlaxoSmithKline plc, Janssen Pharmaceutical Companies of Johnson & Johnson, Novartis Institutes for Biomedical Research, Pfizer Inc., and Sanofi. Forward-Looking Statements This press release includes certain disclosures that contain “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding the timing and advancement of current and future development programs; including the timing and availability of additional data and key data readout milestones and presentations; expectations regarding early biological readouts as predictor of clinical response; expectations regarding the therapeutic benefit of the Company’s programs, including the ability of aglatimagene to treat a broad range of solid tumors and improve disease-free survival, overall survival, and post-progression survival and expectations regarding the potential benefits conferred by regulatory designations. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, those risks and uncertainties related to the timing and advancement of development programs; expectations regarding the therapeutic benefit of the Company’s programs; that final data from the Company’s pre-clinical studies and completed clinical trials may differ materially from reported interim data from ongoing studies and trials; the Company’s ability to efficiently discover and develop product candidates; the Company’s ability to obtain and maintain regulatory approval of product candidates; the Company’s ability to maintain its intellectual property; the implementation of the Company’s business model, including strategic plans for the Company’s business and product candidates; the impact of the Company’s existing and any future indebtedness on its ability to operate its business; the Company’s ability to access any future tranches under its debt facility and to comply with all of its obligations thereunder and other risks identified in the Company’s filings with the U.S. Securities and Exchange Commission (SEC) including the Company’s most recent Annual Report on Form 10-K filed and Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, each as filed with the SEC and any subsequent filings with the SEC. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent the Company’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Investor Contact: Theodore Jenkins VP, Investor Relations and Business Development Candel Therapeutics, Inc. tjenkins@candeltx.com Media Contact: Ben Shannon ICR Healthcare CandelPR@icrhealthcare.com ____________________________ 1 Paz-Ares LG et al. J Clin Oncol 2024; 42:2860-2872 2 Ahn MJ et al. J Clin Onc 2024; 43:260-272 3 Reckamp,KL et al. J Clin Oncol . 2022; 40:2295-2306

Formulation and aseptic fill–finish successfully completed for Aramis Biotechnologies' phase 1/2 clinical studies MONTRÉAL and QUÉBEC CITY , Feb. 10, 2026 /CNW/ - Aramis Biotechnologies Inc. ("Aramis"), a Canadian company pioneering and a global leader in plant‑based bioproduction, and the Biologics Manufacturing Centre (BMC) Inc., a non-profit organization specializing in the manufacturing of essential biopharmaceutical solutions, today announced the successful completion of formulation, aseptic fill–finish, and clinical packaging activities for Aramis' seasonal influenza vaccine in development intended for its Phase 1/2 clinical studies. This key milestone marks the operational culmination of the partnership announced in February 2025 between the two organizations. The BMC leveraged its expertise in formulation, aseptic fill–finish operations, and clinical packaging to ensure the production of clinical material that meets applicable quality, safety, and regulatory compliance requirements for clinical trials. The successful delivery of this clinical material represents a significant milestone for the Aramis's seasonal influenza vaccine development program, a product with the potential to improve protection for populations most at risk. It also demonstrates the role of the BMC within Canada's biopharmaceutical ecosystem to support innovative projects, from scientific development through to clinical manufacturing. "We are extremely pleased with our partnership with the BMC. Aramis' business strategy is based on the complementarity of expertise. Specialists, facilities, and pharmaceutical production equipment at the BMC have fully met our needs," mentioned Frédéric Ors, Aramis' Chief Executive Officer. "We collaborated with a motivated and highly skilled team that delivered top-quality work, fully meeting our expectations and those of regulatory authorities." "This achievement marks an important milestone for Aramis, and we look forward to continuing our discussions with the BMC to expand our collaboration," added Nicolas Petit, Aramis' Chief Operating Officer. From the BMC's perspective, this achievement confirms its role as a strategic partner for Canadian biotechnology companies in the clinical development stage, by offering integrated formulation and aseptic fill–finish services tailored to high-value-added biologic products. "The success of this project highlights the value of close collaboration between an innovative biotech company and an agile manufacturing partner. We are proud to have delivered compliant clinical material on schedule and in line with the highest quality standards," highlighted Andy Sheldon, CEO of the Biologics Manufacturing Centre (BMC) Inc. This partnership between Aramis Biotechnologies and the BMC is a success and reflects a first promising collaboration, paving the way for future joint initiatives. It highlights both organizations' ability to combine their expertise to effectively support the clinical development of innovative biopharmaceutical solutions. About Aramis Biotechnologies Headquartered in Québec City, Aramis Biotechnologies is a pioneering Canadian company and a global leader in plant‑based bioproduction. Through its strategic partnerships, Aramis develops innovative and sustainable biomanufacturing solutions designed to meet the evolving needs of industry and society. The company is committed to advancing next‑generation technologies that address both current and emerging challenges and deliver benefits to all stakeholders. About the Biologics Manufacturing Centre (BMC) Inc. Based in Ville Mont-Royal, the BMC is a non-profit organization dedicated to the production of innovative biologic solutions. Its mission is to facilitate access to high-quality, affordable, and sustainable biologic therapies, while fostering innovation in rare and infectious diseases. The BMC is committed to building a robust and collaborative ecosystem to strengthen resilience against emerging health threats and promote health equity. For more information: aramisbiotechnologies.com Biologics Manufacturing Centre (BMC) Inc. SOURCE Biologics Manufacturing Centre (BMC) Inc.