Elicio Therapeutics (Nasdaq: ELTX) trims Q2 loss, funds runway into 2027
Rhea-AI Filing Summary
Elicio Therapeutics, Inc. reported second quarter 2026 results and clinical updates focused on its lead KRAS-targeted immunotherapy ELI-002 7P. For the quarter ended June 30, 2026, net loss was $8.2 million compared with $10.6 million a year earlier, or $0.43 per share versus $0.66. Research and development expense was $6.8 million and general and administrative expense was $3.6 million. Cash and cash equivalents totaled $23.5 million on June 30, 2026, supported by $16.6 million in at-the-market proceeds year-to-date and a subsequent $15.0 million registered direct financing in July 2026; the company expects this cash to fund operations into the first quarter of 2027. Clinically, a Phase 2 AMPLIFY-7P trial in adjuvant pancreatic cancer did not meet its primary endpoint, while Elicio reported multiple complete responses in metastatic KRAS-mutant pancreatic cancer and plans a Phase 1 combination trial in metastatic disease anticipated to start in the fourth quarter of 2026.
Positive
- Net loss narrowed to $8.2 million from $10.6 million year over year, with loss per share improving to $0.43 from $0.66.
- Cash position strengthened to $23.5 million at June 30, 2026, aided by $16.6 million in at-the-market proceeds and a subsequent $15.0 million registered direct financing, extending runway into Q1 2027.
- Multiple complete responses observed following ELI-002 7P treatment and checkpoint inhibition in metastatic KRAS-mutant pancreatic cancer support advancing a Phase 1 combination trial.
- Inclusion in the Russell 2000 and 3000 Indexes may increase visibility among institutional and index-based investors.
Negative
- Phase 2 AMPLIFY-7P trial of ELI-002 7P in adjuvant KRAS-driven pancreatic cancer did not meet its primary endpoint, creating uncertainty for that development path.
- Ongoing operating losses continue, with total operating expenses of $10.4 million in the quarter and cash expected to fund operations only into the first quarter of 2027.
Filing Explained
The filing adds that a Memorial Sloan Kettering Cancer Center-led Phase 1 study of ELI-002 7P with chemotherapy and checkpoint inhibition has been activated for neoadjuvant pancreatic cancer, with treatment beginning before surgery and continuing after resection.
8-K Event Classification
2 items: 2.02, 9.01
2 items
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.
Key Figures
Net loss Q2 2026: $8.2 million
Net loss Q2 2025: $10.6 million
Loss per share Q2 2026: $0.43
+5 more
8 metrics
Net loss Q2 2026
$8.2 million
Net loss for the quarter ended June 30, 2026
Net loss Q2 2025
$10.6 million
Net loss for the quarter ended June 30, 2025
Loss per share Q2 2026
$0.43
Basic and diluted net loss per common share in Q2 2026
R&D expense Q2 2026
$6.8 million
Research and development expense for the quarter ended June 30, 2026
G&A expense Q2 2026
$3.6 million
General and administrative expense for the quarter ended June 30, 2026
Cash and cash equivalents
$23.5 million
Cash and cash equivalents as of June 30, 2026
Registered direct offering
$15.0 million
Aggregate gross proceeds from July 2026 registered direct financing
Total assets
$31.3 million
Total assets as of June 30, 2026
Key Terms
Phase 2 AMPLIFY-7P trial, adjuvant pancreatic ductal adenocarcinoma, at-the-market program, registered direct offering, +2 more
6 terms
Phase 2 AMPLIFY-7P trial medical
"Reported results from the Phase 2 AMPLIFY-7P trial for ELI-002 7P in adjuvant mKRAS-driven pancreatic cancer"
adjuvant pancreatic ductal adenocarcinoma medical
"Phase 3 development strategy for ELI-002 7P in adjuvant pancreatic ductal adenocarcinoma"
at-the-market program financial
"raised net proceeds of $16.6 million in the second quarter of 2026, through its established at-the-market program"
An at-the-market program is a way for a company to sell new shares of its stock gradually over time directly into the stock market, rather than all at once. This approach allows the company to raise money as needed while giving investors the opportunity to buy shares at current market prices. It helps manage the timing and price of new stock offerings, providing flexibility for both the company and investors.
registered direct offering financial
"Completed a $15.0 million registered direct offering led by new institutional investors"
A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.
amphiphile (AMP) platform medical
"amphiphile (“AMP”)-DNA adjuvant candidates developed using the Company's lymph node-targeting AMP platform technology"
neoadjuvant trial medical
"Phase 1 neoadjuvant trial evaluating ELI-002 7P plus chemotherapy and an anti-PD-1 checkpoint inhibitor"
Earnings Snapshot
Net loss: $8.2 million
Quarter ended June 30, 2026
Net loss
$8.2 million
compared with $10.6 million in the quarter ended June 30, 2025
Loss per share
$0.43
compared with $0.66 in the quarter ended June 30, 2025
R&D expense
$6.8 million
compared with $7.0 million in the quarter ended June 30, 2025
G&A expense
$3.6 million
compared with $3.1 million in the quarter ended June 30, 2025
Cash and cash equivalents
$23.5 million
as of June 30, 2026, versus $18.6 million as of December 31, 2025
FAQ
What were Elicio Therapeutics (ELTX) key financial results for Q2 2026?
Elicio reported a net loss of $8.2 million for Q2 2026, compared with $10.6 million a year earlier. Loss per share was $0.43 versus $0.66, with R&D expense of $6.8 million and G&A expense of $3.6 million.
How much cash does Elicio Therapeutics (ELTX) have and what is its runway?
Elicio reported $23.5 million in cash and cash equivalents as of June 30, 2026. Including a subsequent $15.0 million registered direct financing, management expects current cash to support operations into the first quarter of 2027.
What happened in Elicio Therapeutics’ (ELTX) Phase 2 AMPLIFY-7P trial?
The Phase 2 AMPLIFY-7P trial of ELI-002 7P in adjuvant KRAS-driven pancreatic cancer did not meet its primary endpoint. Elicio is evaluating pre-specified subgroups, including the R0 resected population, to refine a potential Phase 3 strategy.
What new clinical plans did Elicio Therapeutics (ELTX) announce for ELI-002 7P?
Elicio plans to initiate a Phase 1 combination trial of ELI-002 7P with a RAS small molecule inhibitor with or without an anti-PD-1 inhibitor in metastatic pancreatic cancer, with trial initiation anticipated in Q4 2026.
What recent financings did Elicio Therapeutics (ELTX) complete in 2026?
Elicio raised $16.6 million in net proceeds via its at-the-market program in Q2 2026, for $24.4 million year-to-date, and completed a $15.0 million registered direct offering in July 2026 to support ELI-002 7P development and its pipeline.
How is Elicio Therapeutics’ (ELTX) AMP platform being advanced clinically?
Elicio is advancing its AMP lymph node-targeting platform through ELI-002 7P trials in KRAS-driven cancers. A Memorial Sloan Kettering–led Phase 1 neoadjuvant trial in pancreatic ductal adenocarcinoma combining ELI-002 7P, chemotherapy and checkpoint inhibition has been activated.
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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
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices, including zip code) | ||||||||
(857 ) 209-0050
Registrant's telephone number, including area code
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:
Securities registered pursuant to Section 12(b) of the Act:
| (Title of each class) | (Trading Symbol) | (Name of exchange on which registered) | ||||||
The | ||||||||
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 , Elicio Therapeutics, Inc. (the “Company”) announced its financial results for the quarter ended June 30, 2026 and provided corporate updates. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Current Report on Form 8-K (including Exhibit 99.1) 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 filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Exhibit Description | |||||||
| 99.1 | Press Release dated 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, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Elicio Therapeutics, Inc. | |||||||||||||||||
| By: | /s/ ROBERT CONNELLY | ||||||||||||||||
Date: August 13, 2026 | Robert Connelly President and Chief Executive Officer (Principal Executive Officer) | ||||||||||||||||
Elicio Therapeutics Reports Second Quarter 2026 Financial Results and Provides Corporate Updates • Following the observation of multiple complete responses, Elicio plans to initiate a Phase 1 combination study of ELI-002 7P plus a RAS small molecule inhibitor with or without an anti-PD-1 inhibitor in metastatic pancreatic cancer; Phase 1 study anticipated to initiate Q4 2026 • While Phase 2 AMPLIFY-7P trial did not meet its primary endpoint, Elicio continues to evaluate pre-specified subgroups, including the R0 resected population, to further refine its Phase 3 development strategy for ELI-002 7P in adjuvant pancreatic ductal adenocarcinoma (“PDAC”) • Memorial Sloan Kettering Cancer Center-led Phase 1 trial activated evaluating ELI- 002 7P plus chemotherapy and checkpoint inhibition with treatment initiating in neoadjuvant pancreatic cancer and continuing post-resection • $15 million financing in July 2026, strengthens balance sheet to support cash runway into Q1 2027 BOSTON, August 12, 2026 — Elicio Therapeutics, Inc. (Nasdaq: ELTX, “Elicio” or the “Company”), a clinical-stage biotechnology company developing a pipeline of next- generation immunotherapies for KRAS-driven cancers, today reported financial results for the quarter ended June 30, 2026, and provided recent corporate and clinical updates. “The encouraging clinical observations reported to date, including multiple complete responses following ELI-002 7P treatment and subsequent checkpoint inhibition, further support the promise of our AMP platform approach and its potential to generate durable anti-tumor immune responses,” said Robert Connelly, Chief Executive OZicer of Elicio. “Our recent financing provided us with the capital needed to evaluate initial data from our planned Phase 1 combination study of ELI-002 7P with a RAS small molecule inhibitor with or without an anti-PD-1 inhibitor, which is anticipated to begin in the fourth quarter of this year. We are excited to advance our combination strategy and hope to unlock the full potential of our AMP platform to deliver durable clinical benefit for patients with metastatic pancreatic cancer.” Recent Highlights
• Reported multiple complete responses following ELI-002 7P treatment and subsequent checkpoint inhibition in metastatic mKRAS pancreatic cancer, which Elicio believes supports the planned Phase 1 combination study. • Reported results from the Phase 2 AMPLIFY-7P trial for ELI-002 7P in adjuvant mKRAS-driven pancreatic cancer following completion of standard locoregional therapy. The trial did not meet the primary endpoint but Elicio continues to evaluate pre-specified subgroups, including the R0 resected population, to further refine its Phase 3 development strategy for ELI-002 7P in adjuvant PDAC. • Announced the activation of an investigator-initiated Phase 1 neoadjuvant trial evaluating ELI-002 7P plus chemotherapy and an anti-PD-1 checkpoint inhibitor in borderline resectable and resectable pancreatic ductal adenocarcinoma (“PDAC”). The multi-center study is being led by Memorial Sloan Kettering Cancer Center and funded through a strategic partnership between The Lustgarten Foundation and Break Through Cancer. • Published a peer-reviewed manuscript in Science Advances highlighting the potent and durable immune responses generated by certain amphiphile (“AMP”)-DNA adjuvant candidates developed using the Company's lymph node-targeting AMP platform technology. • Completed a $15.0 million registered direct oZering led by new institutional investors to support the planned Phase 1 development of ELI-002 7P in metastatic pancreatic cancer and advance the Company's pipeline. • Added to the Russell 2000® and Russell 3000® Indexes, broadening visibility among institutional investors and index-based funds. Upcoming Anticipated Milestones • Initiation of the Phase 1 combination trial for ELI-002 7P in combination with a RAS small molecule inhibitor with or without an anti-PD-1 inhibitor in metastatic mKRAS pancreatic cancer anticipated in Q4 2026 Second Quarter 2026 Financial Results R&D expense for the second quarter of 2026 was $6.8 million, compared to $7.0 million for the second quarter of 2025. The decrease of $0.2 million was primarily due to lower clinical trial costs as the Phase 2 study of ELI-002 7P continued and the patients moved out of the active dosing phase and into the follow up phase of the trial.
G&A expense for the second quarter of 2026 was $3.6 million, compared to $3.1 million for the second quarter of 2025. The increase of $0.5 million was primarily due to increased Company headcount resulting in increased personnel costs and a slight increase in professional fees. Net loss for the second quarter of 2026 was $8.2 million, compared to $10.6 million for the second quarter of 2025. Net loss per share for the second quarter of 2026 was $0.43 compared to $0.66 for the second quarter of 2025. Cash and cash equivalents were $23.5 million as of June 30, 2026. The Company raised net proceeds of $16.6 million in the second quarter of 2026, for aggregate net proceeds of approximately $24.4 million year to date, through its established at-the-market program. In July 2026, the Company raised aggregate gross proceeds of approximately $15.0 million in a registered direct oZering before deducting the placement agents’ fees and related oZering expenses. The Company expects that its current cash and cash equivalents will support operations into the first quarter of 2027.
2026 2025 Operating expenses: Research and development $ 6,811 $ 7,006 General and administrative 3,618 3,085 Total operating expenses 10,429 10,091 Loss from operations (10,429) (10,091) Total other income (expense), net 2,212 (470) Net loss (8,217) (10,561) Other comprehensive gain: Foreign currency translation adjustment (4) 74 Comprehensive loss $ (8,221) $ (10,487) Net loss per common share, basic and diluted $ (0.43) $ (0.66) Weighted average common shares and pre-funded warrants outstanding, basic and diluted 19,244,679 16,059,423 Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited) Three Months Ended June 30 ELICIO THERAPEUTICS, INC.
Elicio Therapeutics, Inc. (Nasdaq: ELTX) is a clinical-stage biotechnology company advancing next-generation immunotherapies for the treatment of KRAS-driven cancers, including mKRAS-positive pancreatic and colorectal cancers. Elicio intends to build on recent clinical findings in the personalized cancer immunotherapy space to develop eZective, oZ-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 oZ-the-shelf immunotherapy candidate targeting the most common KRAS mutations, which drive approximately 25% of all solid tumors. OZ-the-shelf immunotherapy approaches have the potential benefits of low cost, rapid commercial scale manufacturing, and rapid availability of drug to patients, especially in neo-adjuvant settings and for prophylaxis in high-risk patients, contrary to personalized immunotherapy approaches. Elicio’s pipeline includes additional oZ-the-shelf therapeutic cancer immunotherapy candidates, including ELI-007 and ELI-008, that target BRAF-driven cancers and p53 hotspot mutations, respectively. June 30, 2026 December 31, 2025 Assets Cash and cash equivalents 23,480$ 18,563$ Other current assets 2,005 748 Total current assets 25,485 19,311 Other assets 5,845 6,551 Total assets 31,330$ 25,862$ Liabilities and stockholders' equity Current liabilities 9,202$ 8,110$ Long-term liabilities 14,191 16,116 Total liabilities 23,393 24,226 Total stockholders' equity 7,937 1,636 Total liabilities and stockholders' equity 31,330$ 25,862$ ELICIO THERAPEUTICS, INC. Condensed Consolidated Balance Sheets (in thousands) (unaudited)
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 proprietary AMP technology consisting of AMP- modified mutant KRAS peptide antigens and ELI-004, an AMP-modified CpG oligodeoxynucleotide adjuvant that is available as an oZ-the-shelf subcutaneous administration. ELI-002 7P (7-peptide formulation) was evaluated in the randomized Phase 2 AMPLIFY-7P trial in patients with mKRAS-driven pancreatic cancer (NCT05726864). The Phase 2 AMPLIFY-7P trial included patients with mKRAS-positive pancreatic cancer who completed standard therapy but remain at high risk of relapse. Elicio continues to evaluate pre- specified subgroups, including the R0 resected population, and intends to further refine its Phase 3 development strategy for ELI-002 7P in adjuvant PDAC. Elicio intends to initiate a Phase 1 study in metastatic PDAC designed to provide a rapid assessment of clinical activity using an open label design to assess the objective response rate including partial and complete radiographic responses. Elicio plans to use the study findings to further evaluate checkpoint inhibitor combinations and help inform future development strategies in metastatic PDAC and the adjuvant PDAC Phase 3 trial. At the time of the Phase 2 AMPLIFY-7P analysis, data for overall survival remained immature. ELI-002 also has been studied in patients with mKRAS-positive colorectal cancer in Phase 1 studies. In the future, Elicio may seek to expand ELI-002 7P to other indications, including mKRAS-positive lung cancer and other mKRAS-positive cancers, subject to financing. The ELI-002 7P formulation is designed to provide immune response coverage against seven of the most common KRAS mutations present in 25% of all solid tumors, thereby increasing the potential patient population for ELI-002. 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 eZiciently educate, activate and amplify critical immune cells, potentially resulting in induction and persistence of potent adaptive immunity required to treat many diseases. In pre-clinical 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 suZiciency of Elicio’s current cash and cash equivalents to support planned operations into Q1 2027; Elicio’s planned clinical programs, including the timing and outcome of planned clinical trials, including the planned Phase 1 study evaluating ELI-002 7P in combination with a RAS small molecule inhibitor with or without an anti-PD-1 inhibitor in metastatic PDAC; the potential validation of the combination in a Phase 1 study; the potential of Elicio’s product candidates, including the potential of ELI-002 7P; the potential for the Phase 1 study to provide a rapid development pathway for ELI-002 7P; the potential for the Phase 1 study to inform Elicio’s Phase 3 design in adjuvant PDAC; the potential for future expansion of ELI- 002 to other indications, including in mKRAS positive lung cancer and other mKRAS positive cancers; the potential benefits and eZectiveness of oZ-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 diZer 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
diZer materially from those expressed or implied in the statements due to a number of factors, including, but not limited to, 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; 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 diZer 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 amended on April 29, 2026, and Elicio’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 11, 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