Elicio Therapeutics, Inc. Stock Price, News & Analysis

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.

Elicio Therapeutics (Nasdaq: ELTX) reported its Q1 2024 financial results and provided corporate updates on its lead cancer vaccine programs, ELI-002 2P and ELI-002 7P.

Q1 financial highlights include a net loss of $11.8 million, increased R&D expenses of $7.6 million, and G&A expenses of $2.7 million. Cash reserves stood at $11.9 million as of March 31, 2024.

ELI-002 2P data was published in Nature Medicine, showing promising immunogenicity and safety. ELI-002 7P is in Phase 2 trials, with preliminary Phase 1 data to be presented at ASCO in June 2024.

Upcoming milestones include completing Phase 2 enrollment for ELI-002 7P by Q4 2024 and providing updated data for ELI-002 2P in Q4 2024.

Summary not available.