Elevation Oncolo Stock Price, News & Analysis
Company Description
Elevation Oncology, Inc. (ELEV) was a clinical-stage biopharmaceutical company dedicated to developing precision medicines for patients with genomically defined cancers. The company was acquired by Concentra Biosciences and has since been delisted from the NASDAQ exchange, with SEC reporting obligations terminated through a Form 15-12G deregistration filing.
Original Business Focus
Elevation Oncology specialized in developing therapeutics targeting specific genetic alterations that drive tumor growth. The company's core philosophy centered on making genomic testing results actionable by creating drugs designed to inhibit the specific alterations identified as cancer drivers. This approach represented a shift from traditional oncology treatments toward more personalized medicine based on individual tumor genetics.
Lead Drug Candidate: Seribantumab
The company's primary therapeutic candidate was seribantumab, an antibody designed to inhibit tumor growth driven by NRG1 fusions. NRG1 gene fusions are rare genetic alterations found across multiple tumor types, making them a challenging but potentially high-impact therapeutic target. Seribantumab was evaluated in the Phase 2 CRESTONE study, which enrolled patients with various tumor types harboring NRG1 fusions.
Pipeline Development
Beyond seribantumab, Elevation Oncology pursued additional oncology programs. The company developed antibody-drug conjugate (ADC) programs, including EO-3021 and EO-1022. Development of EO-3021 was discontinued, while EO-1022 showed preclinical proof-of-concept data presented at the American Association for Cancer Research (AACR) Annual Meeting. These ADC programs represented the company's efforts to expand beyond its initial NRG1 fusion focus.
Precision Oncology Approach
Elevation Oncology operated within the precision oncology sector, a specialized field that uses genetic and molecular information to guide cancer treatment decisions. This approach differs from conventional oncology by focusing on the specific molecular characteristics of each patient's tumor rather than treating cancers based solely on their tissue of origin. The company's mission aligned with the broader industry movement toward biomarker-driven drug development.
Corporate Backing and Structure
The company received backing from notable healthcare-focused investment firms, including Aisling Capital, Vertex Ventures HC, Qiming Venture Partners USA, Driehaus Capital Management, and BVF Partners. This institutional support reflected investor interest in precision oncology and targeted cancer therapeutics during the company's operational period.
Acquisition and Delisting
Elevation Oncology entered into an agreement to be acquired by Concentra Biosciences. Following the completion of this transaction, the company's common stock was delisted from the NASDAQ exchange, as documented in the Form 25-NSE filing. Subsequently, the company filed a Form 15-12G to terminate its SEC reporting obligations, ending its status as a public reporting company. Investors who held ELEV shares should note that the ticker no longer trades on major exchanges.