Eledon Pharmaceuticals Inc Stock Price, News & Analysis

Eledon Pharmaceuticals reported promising results from its Phase 1b trial evaluating tegoprubart for kidney transplant patients. Three participants demonstrated no acute rejection incidents at 56, 154, and 232 days post-transplant, with mean eGFRs above 70 mL/min/1.73m². The Phase 2a IgAN study also indicated that tegoprubart was safe and well-tolerated, with no serious adverse events. The trial, which includes up to 12 participants across multiple countries, aims to characterize the pharmacokinetics and safety of tegoprubart. Eledon remains optimistic about the drug's potential to enhance kidney transplant outcomes.

Eledon Pharmaceuticals reported significant financial losses for Q4 and the full year 2022, with a net loss of $58.4 million ($4.09 per share) for Q4 and $88.0 million ($6.16 per share) for the year. Notably, the losses included a non-cash goodwill impairment charge of $48.6 million. The company is concentrating its resources on kidney transplantation programs, highlighted by the Phase 1b kidney transplant trial, where data will be shared at the World Congress of Nephrology. Cash reserves of approximately $56.4 million are expected to sustain operations into Q1 2024.

Eledon Pharmaceuticals plans to release its financial results for the fourth quarter and full year ended December 31, 2022, on March 30, 2023, following the close of trading. A conference call and webcast will be hosted at 4:30 p.m. ET on the same day. Investors can join via toll-free and international numbers or access the webcast link provided in the announcement. Eledon, a clinical-stage biotechnology company headquartered in Irvine, California, focuses on developing treatments targeting the CD40 Ligand pathway, with its lead compound being tegoprubart, an anti-CD40L antibody.

Eledon Pharmaceuticals announced plans to present two posters at the World Congress of Nephrology 2023 in Bangkok, Thailand, from March 30 – April 2, 2023. The presentations will detail safety and efficacy data from ongoing trials of tegoprubart, an anti-CD40L antibody, focused on kidney transplantation and IgA Nephropathy (IgAN). The first presentation, highlighting data on preventing rejection in kidney transplants, is scheduled for March 31, while the second, detailing findings on IgAN, will take place on April 1. Both posters will be available on the company’s investor website post-event.

Eledon Pharmaceuticals, Inc. announced that CEO David-Alexandre C. Gros will present at the SVB Securities Global Biopharma Conference on February 15, 2023, at 5:00 p.m. ET. Interested participants can register for the presentation webcast here. A replay will be available on the company’s website after the live session. Eledon is developing innovative therapies targeting the CD40 Ligand pathway, including its lead compound, tegoprubart, for organ and cell transplants, autoimmune diseases, and ALS.

Eledon Pharmaceuticals is focusing resources on advancing tegoprubart for kidney transplantation, with ongoing enrollment in a Phase 1b trial and plans for a Phase 2 BESTOW trial set to begin in mid-2023. The company deprioritized its IgA Nephropathy program and discontinued its islet cell transplantation efforts to concentrate on kidney transplant opportunities. Eledon has sufficient financial resources to support its operations into 2024. Initial data from the ongoing trials are expected to be released at the World Congress of Nephrology in March 2023.