Elicio Therapeutics Reports First Quarter 2026 Financial Results and Provides Corporate Updates
Rhea-AI Summary
Elicio Therapeutics (Nasdaq: ELTX) reported Q1 2026 results and clinical updates. The Phase 2 AMPLIFY-7P primary disease-free survival analysis of ELI-002 7P in post-resection mKRAS PDAC is expected mid-2026, with fewer progressions and deaths than projected.
Q1 R&D was $6.8M, G&A $3.8M, net loss $11.8M ($0.65/share). Cash was $14.9M on March 31, plus $13.0M raised via ATM, supporting operations into Q4 2026.
Positive
- Phase 2 AMPLIFY-7P primary DFS analysis expected mid-2026
- Fewer disease progressions and deaths than projected in AMPLIFY-7P
- Q1 2026 R&D expenses decreased to $6.8M from $7.8M
- Net loss per share improved to $0.65 from $0.87
- Raised approximately $13.0M via at-the-market program in 2026
- Cash runway expected to extend into Q4 2026
Negative
- Q1 2026 net loss was $11.8M versus $11.2M prior year
- Q1 2026 G&A expenses increased to $3.8M from $3.0M
- Cash and equivalents declined to $14.9M from $18.6M year-end 2025
- Q1 2026 includes $1.0M non-cash expense from warrant liability change
- Total stockholders’ equity turned negative $1.4M at March 31, 2026
News Market Reaction – ELTX
In the May 12 session, ELTX declined 9.13%, reflecting a notable negative market reaction. Argus tracked a peak move of +23.6% during that session. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 12 | Full-year 2025 earnings | Positive | +11.9% | Reported 2025 results, AMPLIFY-7P progress, and cash runway into Q3 2026. |
| Nov 13 | Q3 2025 earnings | Positive | -2.2% | Q3 2025 results with strong immunogenicity data and extended cash runway. |
| Aug 07 | Q2 2025 earnings | Positive | +1.4% | Q2 2025 results, IDMC support for Phase 2 and $10M non-dilutive financing. |
| May 13 | Q1 2025 earnings | Positive | -5.3% | Q1 2025 results, Phase 2 interim DFS timeline and new financing/leadership. |
| Mar 31 | 2024 full-year results | Negative | -20.9% | 2024 results with higher net loss, new financing and Phase 2 enrollment completion. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings updates often pair trial progression with financing and shifting cash runway, with share reactions split between strong rallies and notable selloffs.
Across recent earnings releases, Elicio consistently highlighted progress in its AMPLIFY-7P program and evolving timelines for the Phase 2 DFS analysis. Financial updates frequently included new financings that extended runway beyond key readouts, but share-price reactions have been mixed, with both double-digit gains and sharp declines. Today’s Q1 2026 results again stress the anticipated DFS analysis mid-2026, updated cash runway into Q4 2026, and ongoing Phase 2 follow-up, continuing this pattern of pairing clinical and funding milestones.
Key Terms
phase 2 medical
disease-free survival medical
at-the-market program financial
warrant liability financial
end-of-phase 2 meeting regulatory
registrational study regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- In the ongoing Phase 2 AMPLIFY-7P study evaluating ELI-002 7P in patients with pancreatic ductal adenocarcinoma (“PDAC”), the event-driven primary disease-free survival (“DFS”) analysis is anticipated mid-year 2026
- The Company raised net proceeds of approximately
$8.0 million in Q1 2026 and an additional$5.0 million in Q2 2026 to date, for aggregate net proceeds of approximately$13.0 million , through its established at-the-market program - Projected cash runway beyond the expected AMPLIFY-7P Phase 2 final DFS data
BOSTON, May 11, 2026 (GLOBE NEWSWIRE) -- Elicio Therapeutics, Inc. (Nasdaq: ELTX, “Elicio” or the “Company”), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, today reported financial results for the quarter ended March 31, 2026, and provided recent corporate and clinical updates. “We remain focused on advancing the Phase 2 AMPLIFY-7P trial and anticipate reaching the event-driven primary DFS analysis of ELI-002 7P in post-resection KRAS-driven PDAC mid-year 2026,” said Robert Connelly, Chief Executive Officer of Elicio. “We are encouraged by the durability of T-cell responses and clinical observations to date, supporting the potential of ELI-002 7P to favorably impact outcomes as monotherapy in the adjuvant PDAC setting. With our cash runway now expected to extend into Q4 2026, beyond the anticipated DFS readout, we believe we are well positioned to execute on this key milestone and further advance our amphiphile (“AMP”) platform in KRAS-mutant pancreatic cancer and other indications, with the goal of delivering meaningful long-term value for patients and shareholders.”
Updates on the AMPLIFY-7P Phase 2 Trial
- The event-driven primary DFS endpoint analysis for Elicio’s randomized Phase 2 AMPLIFY-7P trial in post-resection mKRAS PDAC is anticipated mid-year 2026
- Fewer disease progressions and deaths than projected to date have been observed in the ongoing 2:1 randomized Phase 2 AMPLIFY-7P trial
- The Company remains blinded to the Phase 2 AMPLIFY-7P trial clinical efficacy outcomes
- Following completion of the primary DFS endpoint analysis, the Company plans to request an End-of-Phase 2 meeting with the U.S. Food and Drug Administration (“FDA”) to align on the Phase 3 trial design for ELI-002 7P in resected mKRAS PDAC and to advance ELI-002 7P toward initiation of a registrational study
First Quarter 2026 Financial Results
R&D expenses were
G&A expenses were
Net loss was
Cash and cash equivalents were
The Company raised net proceeds of
The Company expects its current cash and cash equivalents to support planned operations into Q4 2026, beyond the anticipated AMPLIFY-7P Phase 2 event-driven DFS analysis expected mid-year 2026.
| ELICIO THERAPEUTICS, INC. | ||||||||
| Condensed Consolidated Statements of Operations and Comprehensive Loss | ||||||||
| (in thousands, except share and per share amounts) | ||||||||
| (unaudited) | ||||||||
| Three Months Ended March 31 | ||||||||
| 2026 | 2025 | |||||||
| Operating expenses: | ||||||||
| Research and development | $ | 6,757 | $ | 7,778 | ||||
| General and administrative | 3,845 | 2,958 | ||||||
| Total operating expenses | 10,602 | 10,736 | ||||||
| Loss from operations | (10,602 | ) | (10,736 | ) | ||||
| Total other expense, net | (1,221 | ) | (473 | ) | ||||
| Net loss | (11,823 | ) | (11,209 | ) | ||||
| Other comprehensive gain: | ||||||||
| Foreign currency translation adjustment | 5 | 31 | ||||||
| Comprehensive loss | $ | (11,818 | ) | $ | (11,178 | ) | ||
| Net loss per common share, basic and diluted | $ | (0.65 | ) | $ | (0.87 | ) | ||
| Weighted average common shares and pre-funded warrants outstanding, basic and diluted | 18,211,745 | 12,950,574 | ||||||
| ELICIO THERAPEUTICS, INC. | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (in thousands) | |||||||
| (unaudited) | |||||||
| March 31, 2026 | December 31, 2025 | ||||||
| Assets | |||||||
| Cash and cash equivalents | $ | 14,948 | $ | 18,563 | |||
| Other current assets | 1,252 | 748 | |||||
| Total current assets | 16,200 | 19,311 | |||||
| Other assets | 6,489 | 6,551 | |||||
| Total assets | $ | 22,689 | $ | 25,862 | |||
| Liabilities and stockholders' equity (deficit) | |||||||
| Current liabilities | $ | 7,229 | $ | 8,110 | |||
| Long-term liabilities | 16,897 | 16,116 | |||||
| Total liabilities | 24,126 | 24,226 | |||||
| Total stockholders' equity (deficit) | (1,437 | ) | 1,636 | ||||
| Total liabilities and stockholders' equity (deficit) | $ | 22,689 | $ | 25,862 | |||
Elicio Therapeutics, Inc. (Nasdaq: ELTX) is a clinical-stage biotechnology company advancing novel immunotherapies for the treatment of high-prevalence cancers, including mKRAS-positive pancreatic and colorectal cancers. Elicio intends to build on recent clinical successes in the personalized cancer immunotherapy space to develop effective, off-the-shelf immunotherapies. Elicio’s AMP technology aims to enhance the education, activation and amplification of cancer-specific T cells relative to conventional immunotherapy strategies, with the goal of promoting durable cancer immunosurveillance in patients. Elicio’s ELI-002 7P lead program is an off-the-shelf immunotherapy candidate targeting the most common KRAS mutations, which drive approximately
About ELI-002
Elicio’s lead product candidate, ELI-002, is a structurally novel investigational AMP cancer immunotherapy that targets cancers that are driven by mutations in the KRAS-gene—a prevalent driver of many human cancers. ELI-002 is comprised of two powerful components that are built with Elicio’s AMP technology consisting of AMP-modified mutant KRAS peptide antigens and ELI-004, an AMP-modified CpG oligodeoxynucleotide adjuvant that is available as an off-the-shelf subcutaneous administration.
ELI-002 2P (2-peptide formulation) has been studied in the Phase 1 (AMPLIFY-201) trial in patients with high relapse risk mKRAS-driven solid tumors, following surgery and chemotherapy (NCT04853017). ELI-002 7P (7-peptide formulation) is currently being studied in a Phase 1/2 (AMPLIFY-7P) trial in patients with mKRAS-driven pancreatic cancer (NCT05726864). The ELI-002 7P formulation is designed to provide immune response coverage against seven of the most common KRAS mutations present in
About the Amphiphile Platform
Elicio’s proprietary AMP platform delivers investigational immunotherapeutics directly to the “brain center” of the immune system – the lymph nodes. Elicio believes this site-specific delivery of disease-specific antigens, adjuvants and other immunomodulators may efficiently educate, activate and amplify critical immune cells, potentially resulting in induction and persistence of potent adaptive immunity required to treat many diseases. In preclinical models, Elicio observed lymph node-specific engagement driving therapeutic immune responses of increased magnitude, function and durability. Elicio believes its AMP lymph node-targeted approach will produce superior clinical benefits compared to immunotherapies that do not engage the lymph nodes based on preclinical studies.
Elicio’s AMP platform, originally developed at the Massachusetts Institute of Technology, has broad potential in the cancer space to advance a number of development initiatives through internal activities, in-licensing arrangements or development collaborations and partnerships.
The AMP platform has been shown to deliver immunotherapeutics directly to the lymph nodes by latching on to the protein albumin, found in the local injection site, as it travels to lymphatic tissue.
Cautionary Note on Forward-Looking Statements
Certain statements contained in this communication regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, known as the PSLRA. These include statements regarding the sufficiency of Elicio’s current cash and cash equivalents to support planned operations into Q4 2026, beyond the anticipated AMPLIFY-7P Phase 2 event-driven primary DFS endpoint analysis anticipated mid-year 2026; Elicio’s planned clinical programs, including the timing and outcome of planned clinical trials; the timing of the expected event-driven primary DFS endpoint analysis of the Phase 2 AMPLIFY-7P trial anticipated mid-year 2026; the potential efficacy of Elicio’s product candidates, including ELI-002 7P; the potential of Elicio’s product candidates, including ELI-002 7P, to favorably impact outcomes as monotherapy in the adjuvant PDAC setting; Elicio’s plan to request an End of Phase 2 meeting with the FDA to align on the Phase 3 trial design for ELI-002 7P and the potential outcome of such meeting, if granted; Elicio’s plans to advance ELI-002 7P toward initiation of a registrational study; the potential for future expansion of ELI-002 to other indications including, in neo-adjuvant and metastatic PDAC settings, and other mKRAS-positive cancers; the potential benefits and effectiveness of off-the-shelf immunotherapy approaches; and other statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future and, therefore, you are cautioned not to place undue reliance on them. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Elicio undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. Elicio uses words such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions of the PSLRA. Such forward-looking statements are based on our expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including, but not limited to, Elicio’s financial condition, including its anticipated cash runway, and ability to obtain the funding necessary to advance the development of ELI-002 7P and any other future product candidates, and Elicio’s ability to continue as a going concern; Elicio’s plans to develop and commercialize its product candidates, including ELI-002 7P; the timing of initiation of Elicio’s planned clinical trials; the timing of the availability of data from Elicio’s clinical trials, including the event-driven primary DFS endpoint analysis from the Phase 2 AMPLIFY-7P trial anticipated mid-year 2026; the timing of any planned investigational new drug application or new drug application; Elicio’s plans to research, develop and commercialize its current and future product candidates; and Elicio’s estimates regarding future revenue, expenses, capital requirements and need for additional financing.
New factors emerge from time to time, and it is not possible for Elicio to predict all such factors, nor can Elicio assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. These risks are more fully discussed under the heading “Risk Factors” in Elicio’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 12, 2026, as updated by subsequent reports and other documents filed from time to time with the SEC. Forward-looking statements included in this release are based on information available to Elicio as of the date of this release. Elicio does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date of this release, except to the extent required by law.
Investor Relations Contact
Brian Ritchie
LifeSci Advisors
(212) 915-2578
britchie@lifesciadvisors.com
