Welcome to our dedicated page for Elicio Therapeutics news (Ticker: ELTX), a resource for investors and traders seeking the latest updates and insights on Elicio Therapeutics stock.
Elicio Therapeutics, Inc. (Nasdaq: ELTX) is a clinical-stage biotechnology company focused on transforming cancer treatment through cutting-edge immunotherapies. By leveraging its proprietary Amphiphile (AMP) platform, Elicio is developing vaccines and immunotherapies targeting aggressive cancers such as pancreatic, colorectal, and head and neck cancers.
The AMP platform uniquely targets and delivers immunogens directly to the lymphatic system, amplifying the body's immune response to fight cancer and prevent its recurrence. This innovative approach aims to unlock the full potential of the human immune system, resulting in enhanced anti-tumor functionality and long-term protective memory.
Recent achievements include:
- The commencement of initial patient studies for its lead amphiphile vaccines targeting various cancers in early 2020.
- Ongoing Phase 1 and Phase 2 trials for ELI-002, a novel cancer vaccine targeting mutant KRAS-driven tumors.
- The publication of promising preclinical and clinical data which demonstrate the AMP platform's potential in enhancing T cell responses and eradicating solid tumors.
Financial updates reveal continued investment in clinical trials and research, with expenses reflecting the company's robust R&D initiatives. Partnerships with renowned institutions like the University of Texas MD Anderson Cancer Center further bolster Elicio's research capabilities.
Looking forward, Elicio plans to advance its development pipeline, including the ELI-002 7P Phase 2 trial as a monotherapy for patients with pancreatic ductal adenocarcinoma (PDAC). The company remains committed to pioneering new cancer treatments and improving patient outcomes.
Elicio Therapeutics (Nasdaq: ELTX), a clinical-stage biotech company focused on cancer immunotherapies, has announced the granting of 4,800 inducement stock options to a new employee. This grant, approved by the Compensation Committee of Elicio's Board of Directors, was made under the company's 2024 Inducement Incentive Award Plan in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options allow for the purchase of Elicio common stock at $4.13 per share, which was the closing price on September 16, 2024, the date of grant. The options have a four-year vesting schedule, with 25% vesting on the first anniversary of the employee's start date and the remainder vesting monthly thereafter, contingent on continued employment with Elicio.
Elicio Therapeutics (Nasdaq: ELTX) announced three upcoming presentations focusing on its lymph node targeted, mKRAS-specific Amphiphile vaccines. The presentations will take place at:
1. AACR Special Conference (Sept 15-18, 2024, Boston): Dr. Eileen O'Reilly will present Phase I AMPLIFY-7P trial updates.
2. RAS-Targeted Drug Development Summit (Sept 25, 2024, Boston): Dr. Pete DeMuth will discuss clinical translation of Elicio's RAS-targeted Amphiphile vaccines.
3. Stuart and Molly Sloan Precision Oncology Institute Symposium (Oct 1, 2024, Seattle): Dr. Christopher Haqq will present Phase I experience with ELI-002 2P and ELI-002 7P.
CEO Robert Connelly highlighted recent data showing T cell response correlation with reduced tumor biomarkers and progression risk. Elicio's $43 million funding is expected to provide runway into Q2 2025, with clinical updates expected in Q4 2024 and Q1 2025.
Elicio Therapeutics (Nasdaq: ELTX), a clinical-stage biotech company developing novel immunotherapies for cancer treatment, announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. CEO Robert Connelly will present on September 11, 2024, at 2:30 p.m. ET. The presentation will be available via live webcast and on-demand for 90 days afterward.
Elicio specializes in lymph node-targeted immunotherapies using their proprietary AMP technology. This approach aims to enhance the immune system's cancer-fighting capabilities by delivering therapeutic payloads directly to lymph nodes. Their R&D pipeline includes off-the-shelf therapeutic cancer vaccines ELI-002 (for mKRAS-driven cancers), ELI-007, and ELI-008 (for BRAF-driven cancers and p53 hotspot mutations, respectively).
Elicio Therapeutics (Nasdaq: ELTX) reported Q2 2024 financial results and provided corporate updates. Key highlights include:
- AMPLIFY-7P Phase 1 data showed 100% of patients developed mKRAS-specific T-cell responses
- Phase 2 randomized trial of ELI-002 expected to complete 135-patient enrollment in Q4 2024
- $43 million raised in 2024, funding operations into Q2 2025
- Q2 2024 R&D expenses increased to $8.2 million from $4.9 million in Q2 2023
- Net loss for Q2 2024 was $7.2 million or $0.64 per share
- Cash and equivalents as of June 30, 2024 were $3.4 million, not including $29.6 million in subsequent financings
Elicio Therapeutics (Nasdaq: ELTX) has announced the closing of a $20.0 million private placement of a 3.0% Senior Secured Convertible Promissory Note due February 15, 2026. The note was purchased by GKCC, , an entity controlled by an Elicio board member. Key details include:
- Initial conversion price: $5.81 per share (135% of closing price on August 9, 2024)
- Interest: 3% per annum, payable quarterly in cash
- Maturity date: February 15, 2026
- Use of proceeds: Working capital and general corporate purposes
The convertible note is secured and senior to other obligations. Elicio granted customary registration rights for shares issuable upon conversion. This private placement was conducted under Section 4(a)(2) of the Securities Act of 1933.
Elicio Therapeutics (Nasdaq: ELTX) has announced the pricing of an $11.5 million public offering. This includes 500,000 shares of common stock and warrants to purchase another 500,000 shares at $5.00 per share, as well as pre-funded warrants for 1,800,000 shares at an exercise price of $0.01 each, with accompanying warrants also priced at $5.00 per share.
The offering is expected to close by July 1, 2024, subject to customary conditions. The funds will support Elicio's development pipeline, working capital, and general corporate purposes. JonesTrading Institutional Services is the sole book-running manager.
Elicio Therapeutics (Nasdaq: ELTX), a clinical-stage biotechnology firm, has announced the commencement of an underwritten public offering of its common stock and accompanying warrants. This offering includes pre-funded warrants for certain investors as an alternative to common stock.
The size and terms of the offering are yet to be determined and are subject to market conditions. The proceeds will be utilized for advancing Elicio's development pipeline, as well as for working capital and general corporate purposes. JonesTrading Institutional Services is the sole book-running manager for this offering.
A shelf registration statement for these securities was filed and became effective on June 11, 2024, with the SEC. Preliminary prospectus supplements and accompanying documents will be available on the SEC's website.
Elicio Therapeutics reported preliminary data from its AMPLIFY-7P Phase 1a study of ELI-002 7P, an investigational therapeutic cancer vaccine. Administered as a monotherapy at the Phase 2 dose of 4.9mg AMP-peptide, ELI-002 7P shows promising disease-free survival (DFS) data in pancreatic ductal adenocarcinoma patients.
As of May 24, 2024, the study includes 14 patients with minimal residual disease and a median follow-up of 29.1 weeks. The median DFS has not been reached for patients receiving the 4.9mg dose, compared to 12.6 weeks for those on the 1.4mg dose. Patients showing tumor biomarker reduction and strong T cell response had no progression events, whereas those without biomarker response had a median DFS of 11.0 weeks.
Elicio plans further updates on the AMPLIFY Phase 1 trials later in 2024, with a Phase 2 interim analysis expected in Q1 2025.
Elicio Therapeutics (Nasdaq: ELTX), a biotechnology company specializing in immunotherapies for cancer, announced on June 18, 2024, the issuance of 5,400 inducement stock options to two new employees. These options, granted on June 17, 2024, align with Nasdaq Listing Rule 5635(c)(4) and were approved by the board's Compensation Committee under the 2024 Inducement Incentive Award Plan. The options are priced at $7.98 each, reflecting the closing price on the grant date. Vesting occurs over four years with 25% vesting on the first anniversary of the employees' start dates, and the remaining vesting monthly thereafter, contingent on continued employment.
Elicio Therapeutics revealed preliminary data from their AMPLIFY-7P Phase 1a study of ELI-002 7P at the ASCO 2024 Annual Meeting. The cancer vaccine candidate, targeting mKRAS-driven solid tumors, showed promising results. ELI-002 7P was well tolerated and induced a significant (~100x) mKRAS-specific T cell response in all enrolled patients.
Key findings included CD8+ and CD4+ responses in 66.7% of patients at the 4.9 mg dose, and tumor biomarker reductions in 71% of evaluable patients. Antigen-spreading, targeting non-immunizing tumor neoantigens, was observed in all patients at the 4.9 mg dose. The study supports further development, with the recommended Phase 2 dose being 10.0 mg AMP-CpG-7909 with 4.9 mg AMP-Peptides 7P.
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