Elevation Oncolo Stock Price, News & Analysis

Elevation Oncology has announced the selection of an abstract for SYSA1801 (EO-3021) Phase 1 clinical data for presentation at the ASCO 2023 Annual Meeting in Chicago, from June 2-6, 2023. The ongoing Phase 1 study is focused on evaluating SYSA1801 in patients with Claudin 18.2-positive advanced solid tumors, conducted in partnership with CSPC Pharmaceutical Group in China. Elevation plans to advance its clinical trial for EO-3021 in the U.S. in the second half of 2023. EO-3021 targets Claudin 18.2, a significant unmet need in oncology, particularly for gastric and pancreatic cancers, with no existing approved therapies. The U.S. FDA has cleared an Investigational New Drug application for EO-3021.

Elevation Oncology (Nasdaq: ELEV) recently presented preclinical data for its lead candidate EO-3021 targeting Claudin 18.2 at the AACR Annual Meeting 2023. The antibody-drug conjugate displayed anti-tumor efficacy in various cancers like gastric and pancreatic in preclinical models. Notably, EO-3021 achieved a confirmed partial response in a patient with metastatic gastric cancer during a Phase 1 trial in China, showing a 66.7% tumor reduction over approximately 11 months of treatment. The company plans to initiate a US Phase 1 clinical trial in the latter half of 2023, further advancing EO-3021's development aimed at addressing significant unmet medical needs in oncology.

Elevation Oncology (Nasdaq: ELEV) has announced it will present preclinical proof-of-concept data for its drug candidate EO-3021 at the AACR Annual Meeting 2023 in Orlando, Florida, from April 14-19, 2023. The oral presentation is scheduled for April 17, showcasing EO-3021, an antibody-drug conjugate targeting Claudin 18.2, which may become a leading treatment for solid tumors. Additionally, two posters will detail findings from a Phase 2 CRESTONE study on NRG1 fusions. The company aims to initiate a Phase 1 clinical trial for EO-3021 in the U.S. in the latter half of 2023.

Elevation Oncology (Nasdaq: ELEV) reported its financial results for Q4 2022, revealing a net loss of $19 million, up from $9.6 million in Q4 2021. The company has $90.3 million in cash and equivalents, sufficient to fund operations into Q4 2024. Key developments include the prioritization of EO-3021, a promising antibody-drug conjugate targeting solid tumors with Claudin 18.2, with preclinical data expected in H1 2023 and the initiation of a Phase 1 trial in the US in H2 2023. Additionally, there has been a workforce reduction of about 30% and a pause in investment in seribantumab's clinical development.

Elevation Oncology (Nasdaq: ELEV) announced participation in key investor conferences this March. They will attend the Cowen 43rd Annual Health Care Conference on March 7 at 12:50 p.m. ET focusing on GI/GU Oncology. Additionally, they will present at the Oppenheimer 33rd Annual Healthcare Conference on March 15 at 8:00 a.m. ET. A live webcast and replay will be accessible on their Investor Relations website. Elevation Oncology is dedicated to developing selective cancer therapies, like their lead candidate, EO-3021, targeting Claudin18.2.