Every 10-Q that Eledon Pharmaceuticals Inc (ELDN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ELDN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ELDN filings page.
Eledon Pharmaceuticals reported a net loss of $31.6 million for the quarter and $70.7 million for the six months ended June 30, 2026, driven mainly by research and development expenses of $35.4 million and general and administrative costs of $8.6 million in the first half.
Cash, cash equivalents and short-term investments totaled $88.8 million, with working capital of $81.3 million, but operating activities used $45.3 million of cash in the six-month period. Management states that, based on the current operating plan, existing resources are not sufficient for the next 12 months, and there is substantial doubt about the ability to continue as a going concern without additional financing.
The company remains a clinical-stage biotech focused on tegoprubart for kidney transplantation and ALS. Capital structure is complex, with $40.0 million of warrant liabilities and outstanding preferred stock and pre-funded warrants contributing to a total accumulated deficit of $471.9 million as of June 30, 2026.
Eledon Pharmaceuticals reports results for the quarter ended March 31, 2026, highlighting continued investment in its lead antibody tegoprubart for transplantation and ALS. The company posted a net loss of $39.0 million, compared with $6.5 million a year earlier, largely driven by a non-cash $19.0 million increase in warrant liabilities.
Operating expenses rose to $21.2 million, mainly from higher research and development spending of $17.2 million linked to kidney transplant programs and manufacturing. Cash used in operating activities was $22.6 million. Eledon ended the quarter with $111.1 million in cash, cash equivalents and short-term investments and working capital of $100.1 million, and expects these resources to fund planned operations for at least 12 months.
The balance sheet reflects $32.4 million of in-process R&D from the Anelixis acquisition and $30.4 million of warrant liabilities measured at fair value. Management reiterates that additional capital will ultimately be needed to complete development of tegoprubart, and the risk factor section emphasizes ongoing losses, funding needs, clinical and regulatory uncertainties, and competitive pressures typical for a clinical-stage biotech.
Eledon Pharmaceuticals reports a Q3 2025 net loss of $17.5 million, driven by $19.1 million of operating expenses, mainly research and development on its lead anti-CD40L antibody tegoprubart. For the first nine months of 2025, the net loss was $35.2 million on $61.8 million of operating expenses, reflecting heavier R&D investment versus 2024.
At September 30, 2025, Eledon held $3.7 million in cash and cash equivalents and $89.7 million in short-term investments, for total liquid resources of $93.4 million and working capital of $82.0 million. Management believes this is sufficient to fund planned operations for at least 12 months from the filing date, while noting that additional financing will be needed to support longer-term plans.
Warrant liabilities declined to $21.9 million from $44.9 million at year-end 2024, producing a $22.9 million non-cash gain over nine months. The company also restated prior financial statements to treat its Series X and X1 non-voting convertible preferred stock as a separate class for earnings per share and to classify it as temporary equity due to certain contingent redemption features.
Eledon Pharmaceuticals (ELDN) reported continued clinical-stage activity focused on tegoprubart, with increased clinical and manufacturing spending to support Phase 1b, Phase 2 BESTOW and a Phase 2 open-label extension. The company disclosed material risk factors including a short operating history, sustained operating losses, the need for additional financing, and potential dilution from multiple warrant and equity programs. Share structure updates and equity programs are described, including a $75.0 million ATM shelf (not yet used), recent registered and private offerings with pre-funded warrants, and designated preferred share series. The report emphasizes reliance on CROs and CMOs, regulatory and enrollment risks, and increased personnel and professional costs tied to expanded development activity.
Eledon Pharmaceuticals (ELDN) reports continued clinical-stage operations focused on tegoprubart and related development programs. The company operates as a single reporting segment with the chief executive officer as the CODM. It has incurred significant operating losses and states it will require additional funding to complete development of its lead candidate. Recent activity increased expenses: a $4.0 million rise tied to kidney transplantation programs, $0.9 million higher manufacturing costs, $0.7 million higher personnel costs and $0.7 million higher stock-based compensation. The company established an "at-the-market" equity program for up to $75.0 million (Shelf effective October 2, 2024) but has not sold shares under it as of March 31, 2025. Capital structure disclosures include 59,881,775 common shares outstanding at March 31, 2025 and several series of non-voting convertible preferred stock and pre-funded warrants outstanding.