Eledon Pharmaceuticals Inc (ELDN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ELDN SEC filings page.
This page shows Eledon Pharmaceuticals Inc (ELDN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
External financing funds a research-heavy development model while operating cash use accelerates and the balance sheet remains capital-dependent
Operating cash outflow widened from$47.3M in FY2024 to$62.3M in FY2025, even as the reported net loss also deepened. Because cash use exceeded accounting loss in both periods—and the gap expanded—the reported loss understates the resources consumed by development activity, pointing to weaker cash conversion than earnings alone suggest.
R&D spending rose from
FY2025 financing cash flow remained positive while shares outstanding rose from 59.9M in FY2024 to 75.9M, linking balance-sheet support to fresh capital rather than operating receipts. The reported liquidity comparison was 25.7 months of latest annual operating outflow, while current ratio was 7.4x; that snapshot does not change the external-funding mechanic.
Financial Health Signals
Eledon Pharmaceuticals Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Eledon Pharmaceuticals Inc passes 0 of 6 computable financial strength tests (3 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Eledon Pharmaceuticals Inc reported a net loss of $45.6M while operations used $62.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Eledon Pharmaceuticals Inc reported -$31.6M in net income in Q2 2026. This represents a decrease of 182.0% from the same quarter a year earlier. Against the prior quarter it is up 18.9%.
Eledon Pharmaceuticals Inc earned -$0.27 per diluted share (EPS) in Q2 2026. This represents a decrease of 107.7% from the same quarter a year earlier. Against the prior quarter it is up 18.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Eledon Pharmaceuticals Inc held $6.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Eledon Pharmaceuticals Inc's ROE was -95.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 73.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Eledon Pharmaceuticals Inc invested $18.2M in research and development in Q2 2026. This represents a decrease of 10.1% from the same quarter a year earlier. Against the prior quarter it is up 6.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
ELDN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $18.2M-10.1% | $17.2M+27.1% | N/A | $15.0M-9.4% | $20.3M+100.6% | $13.5M+82.6% | N/A | $16.5M+108.3% |
| SG&A Expenses | $4.6M+4.1% | $4.0M-10.1% | N/A | $4.1M+2.8% | $4.5M+1.4% | $4.4M+28.2% | N/A | $4.0M+22.1% |
| Operating Income | -$22.9M+7.5% | -$21.2M-17.9% | N/A | -$19.1M+7.0% | -$24.7M-70.5% | -$18.0M-65.3% | N/A | -$20.5M-83.2% |
| Net Income | -$31.6M-182.0% | -$39.0M-500.8% | N/A | -$17.5M-122.7% | -$11.2M+75.0% | -$6.5M+72.5% | N/A | $77.0M+877.0% |
| EPS (Basic) | -$0.27-107.7% | -$0.33-312.5% | -$0.10+87.3% | -$0.21-120.0% | -$0.13+85.9% | -$0.08+87.7% | -$0.79+16.0% | $1.05+418.2% |
| EPS (Diluted) | -$0.27-107.7% | -$0.33-312.5% | -$0.10-117.5% | -$0.21+25.0% | -$0.13 | -$0.08 | $0.57 | -$0.28 |
| Diluted Shares (Avg) | 114M+47.3% | 112M+45.8% | N/A | 77M+39.1% | 77M | 77M | N/A | 55M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, EBITDA, Interest Expense, Income Tax.
ELDN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $126.1M-13.0% | $146.7M-9.1% | $169.0M-4.7% | $129.9M+13.3% | $144.9M+20.3% | $161.3M+99.6% | $177.4M+99.2% | $114.6M+19.3% |
| Current Assets | $93.1M-16.4% | $113.6M-11.1% | $135.7M-5.6% | $96.3M+18.1% | $111.4M+27.7% | $127.7M+166.2% | $143.7M+156.1% | $81.5M+29.4% |
| Cash & Equivalents | $6.8M+18.5% | $6.2M-27.6% | $22.8M+11.0% | $3.7M-45.7% | $5.7M-78.0% | $8.5M+50.2% | $20.5M+345.6% | $6.8M+84.1% |
| Short-Term Investments | $82.0M-19.5% | $104.9M-9.8% | $110.5M-7.6% | $89.7M+25.6% | $101.8M+76.9% | $116.4M+212.8% | $119.6M+157.3% | $71.4M+27.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $93.1M-1.6% | $101.9M-0.5% | $87.9M-23.5% | $94.5M+0.3% | $94.6M-48.8% | $102.4M-32.3% | $115.0M-16.4% | $94.2M+55.8% |
| Current Liabilities | $11.8M-14.1% | $13.5M+46.5% | $18.3M+58.5% | $14.3M+14.5% | $13.7M+127.7% | $9.2M+116.3% | $11.6M+197.2% | $12.5M+330.8% |
| Non-Current Liabilities | $81.3M+0.5% | $88.4M-5.1% | $69.6M-32.7% | $80.2M-1.9% | $80.9M-54.7% | $93.2M-36.6% | $103.4M-22.7% | $81.7M+41.9% |
| Total Equity | $33.0M-34.4% | $44.8M-24.0% | $81.1M+29.8% | $35.4M+73.6% | $50.3M+178.4% | $58.9M+183.6% | $62.4M+228.8% | $20.4M-42.8% |
| Retained Earnings | -$471.9M-26.4% | -$440.2M-21.6% | -$401.2M-12.8% | -$390.8M-25.7% | -$373.3M+3.8% | -$362.1M-5.6% | -$355.6M-11.3% | -$311.0M-7.5% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
ELDN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$22.7M-28.0% | -$22.6M-40.8% | -$14.1M+25.8% | -$14.5M-23.0% | -$17.7M-127.8% | -$16.1M-83.7% | -$19.0M-107.9% | -$11.8M+3.9% |
| Stock-Based Compensation | $3.2M+17.1% | $2.2M-23.1% | N/A | $2.4M+36.2% | $2.7M-12.0% | $2.9M+69.1% | N/A | $1.8M+2.8% |
| Investing Cash Flow | $23.2M+55.3% | $6.0M+53.0% | -$20.5M+56.8% | $12.4M+196.9% | $15.0M+175.1% | $3.9M-60.2% | -$47.4M-570.2% | -$12.8M+48.9% |
| Financing Cash Flow | N/A | N/A | $53.7M-33.0% | $0-100.0% | $0-100.0% | $115K+11400.0% | $80.2M | $5.3M |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
ELDN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -95.8%-73.5pp | -87.2%-76.2pp | N/A | -49.4%-427.4pp | -22.3% | -11.0% | N/A | 378.0%+405.8pp |
| Return on Assets | -25.1%-17.3pp | -26.6%-22.6pp | N/A | -13.4%-80.6pp | -7.7%+29.5pp | -4.0%+25.2pp | N/A | 67.2%+77.5pp |
| Current Ratio | 7.90-0.2x | 8.44-5.5x | 7.40-5.0x | 6.74+0.2x | 8.12-6.4x | 13.91+2.6x | 12.42-2.0x | 6.53-15.2x |
| Debt-to-Equity | 2.82+0.9x | 2.28+0.5x | 1.08-0.8x | 2.67-2.0x | 1.88 | 1.74 | 1.84 | 4.63+2.9x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Eledon Pharmaceuticals Inc ELDN | FY2025 | N/A | -$45.6M | N/A | $245.4M | — |
| Seres Therapeutics Inc MCRB | FY2025 | $789K | $5.7M | N/A | $57.5M | — |
| Nkarta, Inc. NKTX | FY2025 | $0 | -$104.1M | N/A | $209.1M | — |
| Aardvark Therapeutics AARD | FY2025 | $5.1M | -$57.6M | N/A | $117.7M | 55/100 |
| Nuvectis Pharma, Inc. NVCT | FY2025 | N/A | -$26.4M | N/A | $799.5M | — |
| Cabaletta Bio, Inc. CABA | FY2025 | N/A | -$167.9M | N/A | $588.3M | — |
Where Eledon Pharmaceuticals Inc Ranks
Frequently Asked Questions
Is Eledon Pharmaceuticals Inc profitable?
No, Eledon Pharmaceuticals Inc (ELDN) reported a net income of -$45.6M in fiscal year 2025.
What is Eledon Pharmaceuticals Inc's return on equity (ROE)?
Eledon Pharmaceuticals Inc (ELDN) has a return on equity of -56.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Eledon Pharmaceuticals Inc's operating cash flow?
Eledon Pharmaceuticals Inc (ELDN) recorded an outflow of $62.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Eledon Pharmaceuticals Inc's total assets?
Eledon Pharmaceuticals Inc (ELDN) had $169.0M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Eledon Pharmaceuticals Inc spend on research and development?
Eledon Pharmaceuticals Inc (ELDN) invested $66.3M in research and development during fiscal year 2025.
What is Eledon Pharmaceuticals Inc's current ratio?
Eledon Pharmaceuticals Inc (ELDN) had a current ratio of 7.40 as of fiscal year 2025, which is generally considered healthy.
What is Eledon Pharmaceuticals Inc's debt-to-equity ratio?
Eledon Pharmaceuticals Inc (ELDN) had a debt-to-equity ratio of 1.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Eledon Pharmaceuticals Inc's return on assets (ROA)?
Eledon Pharmaceuticals Inc (ELDN) had a return on assets of -27.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Eledon Pharmaceuticals Inc's P/E ratio?
Eledon Pharmaceuticals Inc (ELDN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $245.4M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Eledon Pharmaceuticals Inc's price-to-sales ratio?
Eledon Pharmaceuticals Inc (ELDN) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $245.4M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Eledon Pharmaceuticals Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Eledon Pharmaceuticals Inc (ELDN) held $133.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $62.3M over that year. Dividing the one by the other, the reported balance equals about 26 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Eledon Pharmaceuticals Inc's Piotroski F-Score?
Eledon Pharmaceuticals Inc (ELDN) has a Piotroski F-Score of 0 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Eledon Pharmaceuticals Inc's earnings high quality?
Eledon Pharmaceuticals Inc (ELDN) reported a net loss of $45.6M while operations used $62.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.