Eledon Pharmaceuticals Inc Stock Price, News & Analysis

Eledon Pharmaceuticals (NASDAQ: ELDN) has announced the early completion of enrollment for its Phase 2 BESTOW clinical trial, evaluating tegoprubart for preventing organ rejection in kidney transplant patients. The trial reached its target of 120 participants four months ahead of schedule, reflecting strong interest in innovative therapies. This multicenter, two-arm study compares tegoprubart to tacrolimus, with the primary objective of assessing graft function at 12 months post-transplant. Top-line results are now expected in Q4 2025.

The accelerated enrollment builds on promising results from Eledon's ongoing Phase 1b trial presented at the American Transplant Congress in June 2024. Tegoprubart aims to provide a safer alternative to calcineurin inhibitors, which often cause side effects. Eledon is conducting multiple trials to establish tegoprubart as a new standard in immunosuppression therapy for organ transplant patients.

Eledon Pharmaceuticals (Nasdaq: ELDN) reported key developments for Q2 2024. The company has enrolled 80 participants in its Phase 2 BESTOW trial, comparing tegoprubart to tacrolimus for kidney transplant rejection prevention. At the American Transplant Congress, Eledon presented updated data from 13 participants in its Phase 1b trial, showing tegoprubart's safety and efficacy. The company completed an oversubscribed $50 million private placement, extending its cash runway through December 2025.

Eledon anticipates completing BESTOW trial enrollment by end of 2024 and reporting updated interim data from Phase 1b studies by mid-2025. The company is restating financial statements due to warrant reclassification but assures this is non-cash and won't impact operations or cash position. Eledon ended Q2 with $83.6 million in cash and cash equivalents.

Eledon Pharmaceuticals (NASDAQ: ELDN) has reached a significant milestone in its Phase 2 BESTOW trial, enrolling 80 participants, which represents two-thirds of the projected recruitment for evaluating tegoprubart in preventing kidney transplant rejection. The multicenter study, comparing tegoprubart to tacrolimus, aims to enroll approximately 120 participants across the United States, Europe, and Latin America. The trial's primary objective is to assess graft function at 12 months post-transplant using estimated glomerular filtration rate (eGFR). Eledon's CEO, David-Alexandre C. Gros, M.D., expressed gratitude for the high level of interest and emphasized the urgency for innovative solutions in transplant rejection prevention. The company remains on track to complete enrollment by the end of the year.

Eledon Pharmaceuticals (Nasdaq: ELDN) will be participating in the Leerink Partners Therapeutics Forum focused on Inflammation & Immunology (I&I) and Metabolism. The event is scheduled for July 9, 2024, in Boston, MA. During the forum, Eledon's management team will engage in one-on-one meetings with investors and industry professionals. This participation highlights Eledon's active role in the field of therapeutics and its ongoing efforts to engage with key stakeholders.

Eledon Pharmaceuticals presented updated data from its ongoing Phase 1b trial of tegoprubart for preventing organ rejection in kidney transplant patients at the American Transplant Congress.

The study involved 13 participants and demonstrated a consistent mean eGFR of 70.5 mL/min/1.73m² at all reported time points post-transplant. Notably, two participants had mean eGFRs above 90 mL/min/1.73m² at 12 months post-transplant.

Tegoprubart was generally well tolerated, with no cases of hyperglycemia, new onset diabetes, or tremor, commonly seen with current calcineurin inhibitor-based treatments. Three participants discontinued the study due to adverse effects, including hair loss, viral infection, and rejection.

Eledon is also running a Phase 2 BESTOW trial with expected enrollment completion by year-end 2024.

Eledon Pharmaceuticals reported its first quarter 2024 financial results, highlighting an oversubscribed $50 million private placement. The company dosed the first participant in a clinical trial at the University of Chicago assessing tegoprubart for islet cell transplant rejection in type 1 diabetes patients. They also shared data from a Phase 1b trial for kidney transplantation and the use of tegoprubart in xenotransplantation. Eledon anticipates significant milestones in 2024 and ended the quarter with $42.9 million in cash.

Eledon Pharmaceuticals, Inc. will present updated data from an ongoing Phase 1b trial of tegoprubart at the American Transplant Congress. The trial focuses on preventing rejection in kidney transplant patients. The company will also sponsor a symposium on solid organ transplantation. Details can be found on the company's website.

Eledon Pharmaceuticals, Inc. announced the dosing of the first participant in a clinical trial at the University of Chicago Medicine using tegoprubart to prevent islet cell transplant rejection in type 1 diabetes patients. They also reported positive results from a Phase 1b trial for kidney transplant rejection prevention. Tegoprubart demonstrated safety and effectiveness in protecting organ function in kidney transplant patients with no cases of graft loss or death. The company plans to present the data at the American Transplant Congress. Eledon is conducting multiple trials to evaluate tegoprubart for preventing organ rejection in kidney transplant recipients, showcasing its potential as a promising treatment option.

Eledon Pharmaceuticals announced an oversubscribed $50 million private placement deal with institutional investors, including BVF Partners LP. The financing involves the sale of common stock and pre-funded warrants at specific prices. The net proceeds will be used for pre-commercial activities and general corporate purposes, including the clinical development of its lead product tegoprubart.