STOCK TITAN

Eledon Pharmaceuticals (ELDN) widens Q2 loss while advancing tegoprubart to Phase 3

(Moderate)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Eledon Pharmaceuticals reported second quarter 2026 results and highlighted progress with its lead anti-CD40L antibody, tegoprubart. An End-of-Phase 2 meeting with the FDA supports advancing a global Phase 3 kidney transplantation trial enrolling approximately 600 patients, with non-inferiority to tacrolimus at 52 weeks as the primary endpoint. Long-term Phase 2 BESTOW data showed mean eGFR of 74 vs. 61 mL/min/1.73 m² for tegoprubart versus tacrolimus at 18 months, with no biopsy-proven acute rejection events after six months in tegoprubart-treated patients. In an islet cell transplantation study, all 12 patients with type 1 diabetes achieved insulin independence and HbA1c below 6.5%. Cash, cash equivalents and short-term investments were $88.8 million as of June 30, 2026, and the company expects this to fund operations into the second quarter of 2027. R&D expense was $18.2 million, G&A was $4.6 million, and net loss was $31.6 million, including a $9.6 million non-cash loss from warrant liability remeasurement.

Positive

  • Cash runway into Q2 2027 based on $88.8 million in cash, cash equivalents and short-term investments as of June 30, 2026.
  • Phase 2 BESTOW kidney transplant data showed ~12 mL/min/1.73 m² higher eGFR and no biopsy-proven acute rejection events after six months in tegoprubart-treated patients versus tacrolimus.
  • Updated islet cell transplantation data showed 100% (12/12) insulin independence with HbA1c below 6.5% and no severe hypoglycemic episodes in type 1 diabetes patients.
  • FDA End-of-Phase 2 meeting supports advancement to a global Phase 3 kidney transplantation trial targeting enrollment of approximately 600 patients.

Negative

  • Net loss for Q2 2026 increased to $31.6 million from $11.2 million a year earlier, largely driven by a $9.6 million non-cash loss from warrant liabilities versus a prior non-cash gain.
  • Total assets declined to $126.1 million at June 30, 2026 from $169.0 million at December 31, 2025, reflecting cash burn and higher warrant liabilities.

Filing Explained

At June 30, 80,891,404 common shares were outstanding versus 75,430,033 at year-end, increasing the ownership denominator.

This Form 8-K furnishes the company’s completed second-quarter results for the period ended June 30, 2026. Its balance sheet reports 80,891,404 common shares issued and outstanding at that date, compared with 75,430,033 at December 31, 2025.

For a holder retaining the same number of shares, the larger reported common-share denominator would reduce that holder’s percentage ownership absent offsetting changes. The filing separately reports 450,000,000 common shares authorized at June 30, versus 300,000,000 at year-end; the authorized figure is separate from the issued-and-outstanding count.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Cash and investments $88.8 million Cash, cash equivalents and short-term investments as of June 30, 2026
Net loss Q2 2026 $31.6 million Net loss for the three months ended June 30, 2026
R&D expense Q2 2026 $18.2 million Research and development expenses for the three months ended June 30, 2026
G&A expense Q2 2026 $4.6 million General and administrative expenses for the three months ended June 30, 2026
Warrant liabilities $40.0 million Warrant liabilities as of June 30, 2026
Phase 3 kidney trial size approximately 600 patients Planned enrollment in global Phase 3 kidney transplantation trial of tegoprubart
BESTOW eGFR difference approximately 12 mL/min/1.73 m² Higher mean eGFR for tegoprubart vs. tacrolimus at 18 months
Islet transplant responders 12 patients All 12 type 1 diabetes patients achieved insulin independence and HbA1c < 6.5%
End-of-Phase 2 meeting regulatory
"Completed a successful End-of-Phase 2 meeting with the U.S. Food and Drug Administration"
An end-of-phase 2 meeting is a formal discussion between a drug developer and a regulatory agency to review mid-stage clinical results and agree on the plan and requirements for the larger, final tests needed for approval. It matters to investors because the meeting can clarify what evidence regulators will require, shape the cost and timeline for the next phase, and reduce uncertainty about whether a drug can advance toward market — like a checkpoint that determines whether a project gets the green light to move to the next, expensive stage.
biopsy-proven acute rejection medical
"composite of biopsy-proven acute rejection (BPAR), graft loss and death"
A biopsy-proven acute rejection is when a tissue sample from a transplanted organ shows clear signs that the recipient’s immune system is attacking that organ soon after transplant. For investors, it matters because this objective, lab-confirmed diagnosis is a key measure of how well anti-rejection drugs, medical devices, or transplant procedures are working, and it can directly affect trial outcomes, regulatory decisions, patient survival rates, and market demand for treatments.
donor-derived cell-free DNA medical
"exclusive donor-derived cell-free DNA (dd-cfDNA) monitoring assay in Eledon’s planned Phase 3"
Donor-derived cell-free DNA is fragments of DNA shed by a transplanted organ into the recipient’s bloodstream. Measuring its level is like checking a smoke alarm: rising amounts can warn of organ injury or immune rejection before symptoms appear. Investors track this biomarker because tests and treatments that detect or lower it can change clinical decisions, demand for diagnostic services, and the economic outlook for transplant-related healthcare products.
xenotransplantation medical
"regulatory guidance on the path to market for tegoprubart in xenotransplantation"
Transplanting organs, tissues, or cells from one species into a human, most often using genetically modified animals as donors. Investors watch this area because successful xenotransplantation could create large new markets for treating organ failure but also faces steep scientific, regulatory, ethical and reimbursement hurdles—think of fitting a part from a different-model car: if it works it can extend life and value, but compatibility and approval risks are high.
eGFR medical
"At 18 months, the eGFR curves showed a statistically significant separation"
Net loss $31.6 million compared with $11.2 million for the quarter ended June 30, 2025
R&D expense $18.2 million compared with $20.3 million for the quarter ended June 30, 2025
G&A expense $4.6 million compared with $4.5 million for the quarter ended June 30, 2025
Cash and investments $88.8 million compared with $133.3 million as of December 31, 2025
Guidance

The company expects current cash, cash equivalents and short-term investments to fund operations into the second quarter of 2027.

FAQ

What were Eledon Pharmaceuticals (ELDN) cash and investments as of June 30, 2026?

Eledon reported $88.8 million in cash, cash equivalents and short-term investments as of June 30, 2026. The company expects this capital to fund operations into the second quarter of 2027, supporting its planned Phase 3 and other tegoprubart studies.

How much did Eledon Pharmaceuticals (ELDN) lose in Q2 2026?

Eledon recorded a net loss of $31.6 million for the second quarter of 2026, or $0.27 per basic common share. This includes a $9.6 million non-cash loss from changes in the fair value of warrant liabilities.

What key clinical results for tegoprubart did Eledon (ELDN) report in Q2 2026?

Eledon highlighted Phase 2 BESTOW data showing mean eGFR of 74 vs. 61 mL/min/1.73 m² for tegoprubart versus tacrolimus at 18 months, and no biopsy-proven acute rejection events after six months in tegoprubart-treated patients, supporting advancement to Phase 3 kidney transplantation.

What were the islet cell transplantation outcomes with tegoprubart reported by Eledon (ELDN)?

In a UChicago Medicine investigator-initiated study, all 12 type 1 diabetes patients achieved insulin independence and HbA1c below 6.5%, with mean most recent HbA1c about 5.4% and no severe hypoglycemic episodes, indicating sustained islet graft function and tolerability.

What are Eledon Pharmaceuticals (ELDN) upcoming clinical milestones for tegoprubart?

Planned milestones include initiating a Phase 3 kidney transplantation trial in late 2026, starting a company-sponsored registration-path islet cell transplant study, supporting additional investigator-led renal dysfunction and liver transplant studies, and obtaining FDA guidance on xenotransplantation.

How did Eledon’s (ELDN) R&D and G&A expenses trend in Q2 2026?

In Q2 2026, research and development expenses were $18.2 million versus $20.3 million a year earlier, while general and administrative expenses were $4.6 million versus $4.5 million, indicating slightly lower R&D and relatively stable G&A spending.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false000140428100014042812026-08-132026-08-13

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2026

 

 

Eledon Pharmaceuticals, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-36620

20-1000967

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

19800 MacArthur Blvd.

Suite 250

 

Irvine, California

 

92612

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 949 238-8090

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, $0.001 par value

 

ELDN

 

Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


 

Item 2.02 Results of Operations and Financial Condition.

On August 13, 2026, Eledon Pharmaceuticals, Inc. (the “Company”) issued a press release regarding its quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1.

The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is furnished to comply with Item 2.02 of Form 8-K, and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.

Description

99.1

Press Release Issued on August 13, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

Eledon Pharmaceuticals, Inc.

 

 

 

 

Date:

August 13, 2026

By:

/s/ David-Alexandre C. Gros, M.D.

 

 

 

Name: David-Alexandre C. Gros, M.D.
Title: Chief Executive Officer

 

 


img20068692_0.gif

Exhibit 99.1

Eledon Pharmaceuticals Reports Second Quarter 2026 Financial Results and Recent Business Highlights

Successful End-of-Phase 2 meeting with FDA supports advancement of tegoprubart into a global Phase 3 kidney transplantation trial, on track to initiate in late 2026

Long-term Phase 2 BESTOW data presented at ATC 2026 demonstrated sustained higher kidney function and improved patient-reported outcomes with tegoprubart compared with tacrolimus

Updated islet cell transplantation data presented at ADA 2026 showed 100% insulin independence in all 12 patients with type 1 diabetes

Cash, cash equivalents and short-term investments of $88.8 million as of June 30, 2026

IRVINE, Calif., August 13, 2026 (GLOBE NEWSWIRE) -- Eledon Pharmaceuticals, Inc. (“Eledon”) (Nasdaq: ELDN) today reported its second quarter 2026 operating and financial results and provided recent business highlights.

“During the first half of the year, we made meaningful progress establishing the regulatory framework for our planned Phase 3 kidney transplantation program, which we expect to initiate later this year,” said David-Alexandre C. Gros, M.D., Chief Executive Officer of Eledon. “The continued strength of our clinical data, including sustained long-term kidney function in BESTOW and the compelling results from the UChicago Medicine islet cell transplantation study, reinforces the potential of tegoprubart to improve outcomes across multiple transplant settings. We look forward to advancing our Phase 3 program and expanding the clinical evidence for tegoprubart across additional transplant indications.”

Second Quarter 2026 Business Highlights

Kidney Transplantation

Completed a successful End-of-Phase 2 meeting with the U.S. Food and Drug Administration, establishing the regulatory framework for the planned Phase 3 trial of tegoprubart in kidney transplantation. The global trial is on track to initiate in late 2026 and enroll approximately 600 patients, with a primary endpoint of non-inferiority versus tacrolimus at 52 weeks based on a composite of biopsy-proven acute rejection (BPAR), graft loss and death.
Presented new long-term data from the Phase 2 BESTOW clinical program at the American Transplant Congress (ATC) in June 2026, demonstrating sustained higher kidney function in kidney transplant patients treated with tegoprubart compared with tacrolimus, the current standard-of-care immunosuppression therapy. At 18 months, the eGFR curves showed a statistically significant separation (p<0.05), with mean eGFR approximately 12 mL/min/1.73 m² higher for tegoprubart compared with tacrolimus (approximately 74 vs. 61 mL/min/1.73 m²). No BPAR events were

 


img20068692_0.gif

Exhibit 99.1

observed in tegoprubart-treated patients after the first six months post-transplant, compared with seven BPAR events (9.4% of tacrolimus-treated patients) reported in the tacrolimus arm. Patient-reported outcomes at 52 weeks favored tegoprubart, with statistically significant improvements versus tacrolimus on two validated measures of symptom burden. Long-term data from the BESTOW extension trial also demonstrated favorable long-term safety and tolerability.
Treated the first two patients in an investigator-initiated study of kidney transplant tolerance induction at Massachusetts General Hospital.
Entered into a strategic partnership with Natera, Inc., a global leader in cell-free DNA testing and precision medicine, to incorporate Natera’s Prospera kidney transplant assessment test as the exclusive donor-derived cell-free DNA (dd-cfDNA) monitoring assay in Eledon’s planned Phase 3 kidney transplantation trial.

Islet Cell Transplantation

Presented updated data from the University of Chicago Medicine investigator-initiated islet cell transplantation study at ADA 2026. All 12 patients with T1D achieved insulin independence and HbA1c below 6.5%, with a mean most recent HbA1c of approximately 5.4% and no severe hypoglycemic episodes post-transplant. Tegoprubart demonstrated stable islet graft function through a maximum follow-up of 22 months and was generally well tolerated, with no evidence of nephrotoxicity, hypertension or neurotoxicity.

Anticipated Upcoming Milestones

The Company anticipates the following milestones in 2026 and over the next 12 months:

Initiate Phase 3 clinical trial evaluating tegoprubart in kidney transplantation in late 2026.
Support the initiation of an investigator-led study evaluating tegoprubart for the prevention of organ rejection in patients with renal dysfunction receiving an islet cell transplant in 2026.
Initiate company-sponsored, registration path study evaluating tegoprubart in islet cell transplantation.
Support the initiation of an investigator-led study evaluating tegoprubart for the prevention of organ rejection in patients receiving a de novo liver transplant.
Receive FDA regulatory guidance on the path to market for tegoprubart in xenotransplantation.

Second Quarter 2026 Financial Results

Cash, cash equivalents and short-term investments totaled $88.8 million as of June 30, 2026, compared to $133.3 million as of December 31, 2025. The Company expects current cash, cash equivalents and short-term investments to fund operations into the second quarter of 2027.

 


img20068692_0.gif

Exhibit 99.1

Research and development (R&D) expenses for the second quarter of 2026 were $18.2 million, including $2.1 million of non-cash stock-based compensation expense, compared to $20.3 million for the comparable period in 2025, including $1.1 million of non-cash stock-based compensation expense.

General and administrative (G&A) expenses for the second quarter of 2026 were $4.6 million, including $1.1 million of non-cash stock-based compensation expense, compared to $4.5 million for the comparable period in 2025, including $1.6 million of non-cash stock-based compensation expense.

Net loss for the second quarter of 2026 was $31.6 million, or $0.27 per basic common share, compared to a net loss of $11.2 million, or $0.13 per basic common share, for the comparable period in 2025. Net loss in the second quarter of 2026 included a non-cash loss of $9.6 million from changes in the fair value of warrant liabilities, while the 2025 net loss included a non-cash gain of $12.3 million from such changes. Excluding the non-cash items related to changes in the fair value of warrant liabilities, Eledon would have recorded a net loss of $22.0 million for the three months ended June 30, 2026, and $23.5 million for the three months ended June 30, 2025.

About Eledon Pharmaceuticals and tegoprubart

Eledon Pharmaceuticals, Inc. is a clinical stage biotechnology company that is developing immune-modulating therapies for the management and treatment of life-threatening conditions. The Company’s lead investigational product is tegoprubart, an anti-CD40L antibody with high affinity for the CD40 Ligand, a well-validated biological target that has broad therapeutic potential. The central role of CD40L signaling in both adaptive and innate immune cell activation and function positions it as an attractive target for non-lymphocyte depleting, immunomodulatory therapeutic intervention. The Company is building upon a deep historical knowledge of anti-CD40L biology to conduct preclinical and clinical studies in kidney allograft transplantation, xenotransplantation, islet cell transplantation, liver transplantation and amyotrophic lateral sclerosis (ALS). Eledon is headquartered in Irvine, California. For more information, please visit the Company’s website at www.eledon.com.

Follow Eledon Pharmaceuticals on social media: LinkedIn; X

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. Any statements about the company’s future expectations, plans and prospects, including statements about planned clinical trials, the development of product candidates, expected timing for initiation of future clinical trials, expected timing for receipt of data from clinical trials, the company’s capital resources and ability to finance planned clinical trials, as well as other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “estimates,” “intends,” “predicts,” “projects,” “targets,” “looks forward,” “could,” “may,” and similar expressions, constitute forward-looking statements within

 


img20068692_0.gif

Exhibit 99.1

the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and are subject to numerous risks and uncertainties, including: our short operating history and shifts in our business strategy; our operating losses since inception; our need for additional funding to develop our lead drug candidate and our ability to secure additional funding on acceptable terms or at all; the impact of issuances of our common stock, including the possibility of dilution or a decline in our stock price; our ability to successfully develop our product candidates; unfavorable global economic and financial market conditions; the regulatory environment of our business and our ability to obtain required regulatory approvals; results of non-clinical studies and clinical trials, and risks that non-clinical studies or early clinical trials may not be predictive of results of later-stage clinical trials; delays or difficulties in enrollment of patients in clinical trials; our ability to attract and retain our executives and key employees; legislation of the pharmaceutical and healthcare industries; cybersecurity and data privacy risks; the ability of our products to achieve marketing approval; competition in our industry; our ability to obtain insurance coverage; our dependence on contract research organizations; our ability to protect our intellectual property; public health crises; our ability to maintain proper and effective internal control over financial reporting and other risks disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 19, 2026. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors. These risks and uncertainties, as well as other risks and uncertainties that could cause the company’s actual results to differ materially from the forward-looking statements contained herein, are discussed in our Annual Report on Form 10-K, and other filings with the U.S. Securities and Exchange Commission, which can be found at www.sec.gov. Any forward-looking statements contained in this press release speak only as of the date hereof and not as of any future date, and the company expressly disclaims any intent to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:

Stephen Jasper
Gilmartin Group
(858) 525 2047
stephen@gilmartinir.com

Media Contact:

Jenna Urban
CG Life
(212) 253 8881
jurban@cglife.com

 


img20068692_0.gif

Exhibit 99.1

ELEDON PHARMACEUTICALS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

(Unaudited)

 

 

 

June 30,
2026

 

 

December 31,
2025

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

6,803

 

 

$

22,808

 

Short-term investments

 

 

81,953

 

 

 

110,528

 

Prepaid expenses and other current assets

 

 

4,335

 

 

 

2,352

 

Total current assets

 

 

93,091

 

 

 

135,688

 

Operating lease asset, net

 

 

445

 

 

 

613

 

In-process research and development

 

 

32,386

 

 

 

32,386

 

Other assets

 

 

172

 

 

 

322

 

Total assets

 

$

126,094

 

 

$

169,009

 

LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

3,214

 

 

$

3,627

 

Current operating lease liabilities

 

 

381

 

 

 

358

 

Accrued expenses and other liabilities

 

 

8,194

 

 

 

14,359

 

Total current liabilities

 

 

11,789

 

 

 

18,344

 

Deferred tax liabilities

 

 

2,187

 

 

 

2,187

 

Non-current operating lease liabilities

 

 

86

 

 

 

283

 

Warrant liabilities

 

 

40,001

 

 

 

11,416

 

Total liabilities

 

 

54,063

 

 

 

32,230

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

Convertible preferred stock, 5,000,000 shares authorized at June 30, 2026 and December 31, 2025:

 

 

 

 

 

 

Series X non-voting convertible preferred stock, $0.001 par value, 10,000 shares designated; 4,422 shares issued and outstanding at June 30, 2026 and December 31, 2025

 

 

2,151

 

 

 

2,151

 

Series X1 non-voting convertible preferred stock, $0.001 par value, 515,000 shares designated; 75,800 and 110,086 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively

 

 

36,867

 

 

 

53,543

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

Common stock, $0.001 par value, 450,000,000 shares authorized at June 30, 2026 and 300,000,000 shares authorized at December 31, 2025; 80,891,404 and 75,430,033 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively

 

 

81

 

 

 

75

 

Additional paid-in capital

 

 

504,904

 

 

 

482,189

 

Accumulated other comprehensive income (loss)

 

 

(114

)

 

 

24

 

Accumulated deficit

 

 

(471,858

)

 

 

(401,203

)

Total stockholders’ equity

 

 

33,013

 

 

 

81,085

 

Total liabilities, convertible preferred stock and stockholders’ equity

 

$

126,094

 

 

$

169,009

 

 

 


img20068692_0.gif

Exhibit 99.1

ELEDON PHARMACEUTICALS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share data)

(Unaudited)

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

$

18,230

 

 

$

20,276

 

 

$

35,427

 

 

$

33,807

 

General and administrative

 

 

4,639

 

 

 

4,457

 

 

 

8,623

 

 

 

8,890

 

Total operating expenses

 

 

22,869

 

 

 

24,733

 

 

 

44,050

 

 

 

42,697

 

Loss from operations

 

 

(22,869

)

 

 

(24,733

)

 

 

(44,050

)

 

 

(42,697

)

Other income, net

 

 

862

 

 

 

1,224

 

 

 

1,980

 

 

 

2,633

 

Change in fair value of warrant liabilities

 

 

(9,623

)

 

 

12,293

 

 

 

(28,585

)

 

 

22,353

 

Net loss

 

$

(31,630

)

 

$

(11,216

)

 

$

(70,655

)

 

$

(17,711

)

Other comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized loss on available-for-sale securities, net

 

 

(42

)

 

 

(30

)

 

 

(138

)

 

 

(74

)

Comprehensive loss

 

$

(31,672

)

 

$

(11,246

)

 

$

(70,793

)

 

$

(17,785

)

Basic and diluted earnings per share of common stock

 

$

(0.27

)

 

$

(0.13

)

 

$

(0.59

)

 

$

(0.21

)

Weighted-average common shares outstanding, basic and diluted

 

 

113,631,565

 

 

 

77,156,068

 

 

 

113,031,223

 

 

 

77,141,196

 

Basic and diluted earnings per share of Series X and Series X1 non-voting convertible preferred stock

 

$

(14.79

)

 

$

(7.46

)

 

$

(33.04

)

 

$

(11.78

)

Weighted-average shares outstanding of Series X and Series X1 non-voting convertible preferred stock, basic and diluted

 

 

93,876

 

 

 

114,508

 

 

 

104,135

 

 

 

114,508

 

 

 

 

 


Filing Exhibits & Attachments

2 documents