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Eledon Pharmaceuticals, Inc. - ELDN STOCK NEWS

Welcome to our dedicated page for Eledon Pharmaceuticals news (Ticker: ELDN), a resource for investors and traders seeking the latest updates and insights on Eledon Pharmaceuticals stock.

Eledon Pharmaceuticals, Inc. (NASDAQ: ELDN) is a clinical-stage biotechnology company dedicated to developing immune-modulating therapies for life-threatening conditions. The company's main focus lies in targeting the CD40L pathway, aiming to provide novel treatments for organ and cellular transplantation, autoimmune diseases, and neurodegenerative conditions.

At the core of Eledon's research is tegoprubart, a humanized IgG1 anti-CD40L antibody. Tegoprubart shows high affinity for CD40 Ligand (CD40L), a crucial biological target involved in generating pro-inflammatory responses in autoimmune diseases, transplant rejection, and neuroinflammation. The CD40/CD40L pathway is essential in both adaptive and innate immune responses, making it a prime target for non-lymphocyte depleting therapeutic interventions.

In 2023, Eledon achieved significant milestones, including presenting initial clinical evidence of tegoprubart's potential to prevent organ rejection while maintaining robust kidney function and a favorable safety profile. The company also played a pivotal role in the second-ever genetically modified heart transplant from a pig to a human, using tegoprubart as a key immunosuppressive component.

Looking forward to 2024, Eledon is committed to advancing its clinical programs. Key initiatives include ongoing development in kidney allograft transplantation, xenotransplantation, and amyotrophic lateral sclerosis (ALS). The firm has several pivotal studies underway, including a Phase 1b trial for kidney transplantation, a long-term safety and efficacy extension study, and the Phase 2 BESTOW trial comparing tegoprubart to tacrolimus in kidney transplant patients.

Financially, Eledon reported a net loss of $40.3 million for 2023, slightly improved compared to the previous year's $88.0 million, which included a significant non-cash goodwill impairment charge. The firm's research and development expenses increased to $30.3 million, underscoring its commitment to advancing its clinical pipeline.

Eledon Pharmaceuticals is headquartered in Irvine, California, and continually seeks to build on its deep historical knowledge of anti-CD40L biology to develop groundbreaking therapies. For more information, visit www.eledon.com.

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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.

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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.

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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.

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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.

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Eledon Pharmaceuticals, Inc. enrolled 12 participants in Phase 2 BESTOW trial for tegoprubart in kidney rejection prevention. Positive Phase 1b data showed safety, efficacy, and improved kidney function. Financially, the company reported a net loss reduction in Q4 2023 and full year 2023.
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Eledon Pharmaceuticals, Inc. (ELDN) announced the enrollment of the 12th participant in the Phase 2 BESTOW trial comparing tegoprubart with tacrolimus for kidney transplant rejection prevention. The trial progress indicates a demand for new immunosuppressive options due to the risks associated with current therapies.
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Eledon Pharmaceuticals successfully completes historic kidney xenotransplantation procedure using tegoprubart, demonstrating safety and efficacy in preventing rejection. Tegoprubart shows potential as a new immunosuppressive option for transplant patients.
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Eledon Pharmaceuticals, Inc. granted 42,500 RSUs and stock options to an employee, following Nasdaq rules. The RSUs vest in one year, while the stock options vest over four years.
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Eledon Pharmaceuticals, ticker symbol ELDN, announced updated data from the Phase 1b trial demonstrating the success of tegoprubart in preventing kidney transplant rejection. The company also dosed the first participants in the Phase 2 BESTOW trial and achieved significant financing milestones. Eledon aims to complete the Phase 2 BESTOW trial and dose the first islet cell transplant participant for the treatment of type 1 diabetes in 2024.
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Eledon Pharmaceuticals, Inc. (NASDAQ: ELDN) granted 921,000 stock options to new Chief Medical Officer, Eliezer Katz, M.D., at a per share exercise price of $1.14. The options have a ten-year term and vest over four years, with both time-based and performance-based criteria tied to patient enrollment milestones in Phase 1b and Phase 2 kidney transplant clinical trials.
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FAQ

What is the current stock price of Eledon Pharmaceuticals (ELDN)?

The current stock price of Eledon Pharmaceuticals (ELDN) is $4.675 as of December 4, 2024.

What is the market cap of Eledon Pharmaceuticals (ELDN)?

The market cap of Eledon Pharmaceuticals (ELDN) is approximately 279.3M.

What does Eledon Pharmaceuticals specialize in?

Eledon Pharmaceuticals specializes in developing immune-modulating therapies for organ and cellular transplantation, autoimmune diseases, and neurodegenerative conditions.

What is tegoprubart?

Tegoprubart is Eledon Pharmaceuticals' lead investigational product. It is a humanized IgG1 anti-CD40L antibody with high affinity for CD40 Ligand, showing potential in preventing organ rejection and treating autoimmune diseases.

What are the recent achievements of Eledon Pharmaceuticals?

In 2023, Eledon presented initial clinical evidence of tegoprubart's effectiveness in preventing organ rejection, participated in a landmark genetically modified heart transplant, and made significant progress in clinical trials and research.

What are Eledon Pharmaceuticals' financial highlights for 2023?

Eledon reported a net loss of $40.3 million for 2023, with research and development expenses increasing to $30.3 million, reflecting the company's investment in advancing its clinical trials.

Where is Eledon Pharmaceuticals headquartered?

Eledon Pharmaceuticals is headquartered in Irvine, California.

What clinical trials are currently underway at Eledon Pharmaceuticals?

Eledon is conducting several trials, including a Phase 1b trial for kidney transplantation, a long-term safety and efficacy extension study, and the Phase 2 BESTOW trial to compare tegoprubart with tacrolimus.

How does tegoprubart work?

Tegoprubart targets the CD40/CD40L pathway, which plays a central role in immune responses. It aims to provide immunomodulatory therapeutic intervention without depleting lymphocytes.

What is the significance of the CD40/CD40L pathway?

The CD40/CD40L pathway is crucial in both adaptive and innate immune responses, making it a prime target for treatments aimed at reducing pro-inflammatory responses in autoimmune diseases and transplant rejection.

What are the future plans for Eledon Pharmaceuticals?

Eledon plans to continue advancing its clinical trials for tegoprubart, aiming to complete enrollment in the Phase 2 BESTOW trial by the end of 2024 and to further explore its use in kidney allograft transplantation, xenotransplantation, and ALS.

How can I learn more about Eledon Pharmaceuticals?

For more information, you can visit Eledon Pharmaceuticals' official website at www.eledon.com.

Eledon Pharmaceuticals, Inc.

Nasdaq:ELDN

ELDN Rankings

ELDN Stock Data

279.28M
56.14M
0.04%
42.88%
1.22%
Biotechnology
Pharmaceutical Preparations
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United States of America
IRVINE