Welcome to our dedicated page for Elevation Oncolo news (Ticker: ELEV), a resource for investors and traders seeking the latest updates and insights on Elevation Oncolo stock.
Overview
Elevation Oncology Inc (symbol: ELEV) is an innovative oncology company that is reshaping cancer treatment through the development of selective, precision antibody-drug conjugates (ADCs). With a firm belief that every cancer patient deserves treatments tailored to the unique genomic drivers of their disease, the company focuses on targeting clinically validated oncologic markers such as Claudin 18.2 and HER3. Leveraging advanced ADC technology, Elevation Oncology is dedicated to converting genomic insights into actionable therapeutics that can selectively inhibit tumor growth and improve patient outcomes in various solid tumors.
Core Business and Scientific Approach
At its core, Elevation Oncology operates within the biopharmaceutical research and development sector. The company’s pipeline utilizes a deep understanding of genomic alterations to design ADCs that deliver cytotoxic agents directly to cancer cells expressing these targets. Its lead candidate, EO-3021, is a potential best-in-class ADC engineered to target Claudin 18.2, a marker often exposed upon malignant transformation in gastric and gastroesophageal junction cancers. In parallel, Elevation Oncology is advancing its HER3-targeting program by developing EO-1022, which is built on the selective binding properties of seribantumab, an anti-HER3 monoclonal antibody. This dual-target approach exemplifies the company’s commitment to precision medicine in oncology.
Market Position and Industry Relevance
Elevation Oncology distinguishes itself in the competitive oncology market by focusing on personalized therapeutic solutions for patients with significant unmet medical needs. The company’s strategic emphasis on ADC technology positions it at the intersection of innovative biotechnology and precision cancer care. Through rigorous preclinical and clinical programs, Elevation Oncology seeks to create therapeutics that not only demonstrate robust anti-tumor activity but also offer a differentiated safety profile, making them potentially more combinable with other treatment regimens. This nuanced approach is supported by collaborations and clinical supply agreements with major industry players, underlining the company’s commitment to advancing selective cancer therapies.
Clinical Development and Pipeline
Elevation Oncology’s development pipeline is structured around its flagship programs targeting Claudin 18.2 and HER3. EO-3021, the Claudin 18.2 ADC, is being evaluated in robust Phase 1 clinical trials, both as a monotherapy and in combination with other therapies, thereby exploring its potential to serve as a transformative treatment option for advanced gastric and gastroesophageal cancers. Simultaneously, EO-1022, the HER3 ADC candidate, is progressing through preclinical development, with its design leveraging advanced site-specific conjugation technologies to maximize safety and efficacy. The company’s focus on targeted therapy is driven by a scientific rationale that links unique genomic alterations to specific therapeutic interventions, exemplifying the principles of precision oncology.
Research, Partnerships, and Scientific Expertise
The path to developing next-generation cancer therapies is bolstered by Elevation Oncology’s commitment to scientific excellence and collaborative innovation. The company’s research efforts are centered on generating compelling preclinical and early clinical data that demonstrate proof-of-concept for its ADC programs. Through strategic partnerships and licensing agreements that provide access to cutting-edge conjugation technologies, Elevation Oncology reinforces its ability to deliver targeted therapeutics that are both safe and effective. This strategy not only supports its clinical development goals but also contributes to a pipeline that is poised to address a spectrum of oncology indications.
Operational Excellence and Industry Impact
Elevation Oncology’s operations are characterized by an unwavering focus on the discovery and development of selective cancer therapies. The company’s integration of genomic testing into its drug development strategy represents a decisive step toward personalized medicine, ensuring that each therapeutic candidate is closely aligned with the molecular profile of the patient population it intends to serve. This operational excellence, paired with a clear understanding of the competitive landscape within the oncology market, underscores the company’s role as a research-oriented entity with significant potential to influence modern cancer care strategies.
Conclusion
In summary, Elevation Oncology is a visionary company in the oncology space, distinguished by its commitment to developing precision therapeutics through ADC technology. By focusing on the targeted inhibition of Claudin 18.2 and HER3, the company not only addresses critical unmet needs in cancer care but also lays the groundwork for a future where treatment decisions are deeply informed by a patient’s individual genomic profile. With its comprehensive clinical programs, scientific rigor, and strategic industry partnerships, Elevation Oncology continues to advance the frontier of selective cancer therapies.
Elevation Oncology (ELEV) announced it will present preclinical data for EO-1022, its novel HER3 antibody drug conjugate (ADC), at the AACR Annual Meeting 2025 in Chicago. EO-1022 combines seribantumab, a human IgG2 anti-HER3 monoclonal antibody, with monomethyl auristatin E (MMAE) payload using Synaffix's site-specific conjugation technology.
The company is developing EO-1022 for treating HER3-expressing solid tumors, specifically targeting breast cancer and non-small cell lung cancer. The presentation will showcase the first preclinical data for this therapeutic candidate, which features a drug-to-antibody ratio of 4. Elevation Oncology plans to file an Investigational New Drug (IND) application in 2026.
Elevation Oncology (NASDAQ: ELEV) announced the discontinuation of EO-3021, its Claudin 18.2 antibody-drug conjugate (ADC) for gastric and gastroesophageal junction cancers, following Phase 1 trial results showing a 22.2% objective response rate, deemed insufficient for competitive positioning.
The company will focus on advancing EO-1022, a HER3 ADC for HER3-expressing solid tumors, with plans to present preclinical data at AACR Annual Meeting 2025 and file an IND in 2026. A significant restructuring includes a 70% workforce reduction, with estimated costs of $3 million.
The company's Chief Medical Officer will step down effective March 31, 2025. With $93.2 million in cash and equivalents as of December 31, 2024, Elevation expects to fund operations into second half of 2026 while evaluating strategic options to maximize shareholder value.
Elevation Oncology (NASDAQ: ELEV) reported its Q4 and full-year 2024 financial results, highlighting progress in its cancer therapy programs. The company's lead program, Claudin 18.2 ADC EO-3021, is advancing with ongoing combination therapy trials for gastric/GEJ cancer, with initial data expected in Q4 2025 or Q1 2026.
Key financial metrics include:
- Cash position of $93.2 million as of December 31, 2024
- Q4 2024 R&D expenses increased to $6.6 million from $4.7 million in Q4 2023
- Q4 2024 net loss of $10.4 million compared to $7.9 million in Q4 2023
The company implemented prospective Claudin 18.2 expression testing and initiated dosing in combination cohorts with dostarlimab and ramucirumab. Additionally, Elevation nominated HER3 ADC EO-1022 as a development candidate for HER3-expressing solid tumors, with plans to file an IND application in 2026. Current cash runway extends into 2026.
Elevation Oncology (Nasdaq: ELEV), an innovative oncology company focused on developing selective cancer therapies for patients with solid tumors and significant unmet medical needs, has announced its participation in two upcoming investor conferences in March 2025.
The company will participate in:
- The TD Cowen 45th Annual Health Care Conference with a fireside chat on Tuesday, March 4, 2025 at 9:10 AM ET in Boston, MA
- The Leerink Global Biopharma Conference with a fireside chat on Tuesday, March 11, 2025 at 8:40 AM ET in Miami, FL
Live webcasts and replays of both fireside chats will be available on the Events page of Elevation Oncology's Investor Relations website at https://investors.elevationoncology.com.
Elevation Oncology (NASDAQ: ELEV) has announced significant progress in its cancer therapy programs. The company has initiated dosing in a Phase 1 clinical trial combining its Claudin 18.2 ADC EO-3021 with ramucirumab or dostarlimab for advanced gastric/GEJ cancer patients.
Initial monotherapy data from August 2024 showed promising results with a 42.8% confirmed overall response rate in a biomarker-enriched population, demonstrating competitive efficacy and a differentiated safety profile. The company is now focusing on first- and second-line treatment of advanced gastric/GEJ cancer.
Key upcoming milestones include additional monotherapy data from dose escalation and expansion cohorts in 1H 2025, initial combination cohort data in 4Q 2025 or 1Q 2026, and preclinical data presentation for HER3 ADC EO-1022 in 1H 2025. The company's current cash position is expected to fund operations into 2026.
Elevation Oncology (ELEV) has nominated EO-1022 as its HER3 ADC development candidate for treating HER3-expressing solid tumors. EO-1022 combines seribantumab, an anti-HER3 monoclonal antibody, with an MMAE payload using Synaffix's technology platform. The company has secured a global license agreement with Synaffix for their GlycoConnect®, HydraSpace®, and SYNstatin E™ technologies.
HER3 is expressed in various cancers including breast cancer, EGFR-mutant non-small cell lung cancer, and pancreatic cancer. The company plans to present preclinical data in 1H 2025 and file an IND application in 2026. Seribantumab has already demonstrated a well-tolerated safety profile in over 900 patients across multiple studies.
Elevation Oncology (ELEV) presented preclinical data demonstrating enhanced anti-tumor activity when combining their EO-3021 Claudin 18.2 antibody-drug conjugate (ADC) with VEGFR2 or PD-1 inhibitors. Key findings show:
- Combination with VEGFR2 inhibitor achieved 88.2% tumor growth inhibition vs 20.1% for EO-3021 alone
- Combination with PD-1 inhibitor reached 79.9% tumor growth inhibition vs 33.8% for EO-3021 alone
- 92% complete response rate in mice with PD-1 inhibitor combination vs 50% for EO-3021 monotherapy
The company plans to initiate combination trials with ramucirumab and dostarlimab in Q4 2024 for gastric/GEJ cancer patients, while continuing monotherapy trials with additional data expected in H1 2025.
Elevation Oncology (Nasdaq: ELEV) has announced its participation in the Piper Sandler 36th Annual Healthcare Conference. Joseph J. Ferra, President and Chief Executive Officer, will engage in a fireside chat on Tuesday, December 3, 2024, at 8:30 a.m. ET. The company, which specializes in developing selective cancer therapies for patients with solid tumors, will provide a live webcast of the event, accessible through their Investor Relations website. A replay will also be available for those unable to attend the live presentation.
Elevation Oncology (ELEV) reported Q3 2024 financial results and progress on EO-3021, their Claudin 18.2 antibody-drug conjugate. Key highlights include a 42.8% confirmed objective response rate in Claudin 18.2-enriched gastric and GEJ cancer patients, with a favorable safety profile. The company received FDA Fast Track designation for EO-3021 and progressed to the dose expansion phase, with additional data expected in 1H 2025.
Financial results show cash position of $103.1 million, Q3 net loss of $12.9 million, and funding runway into 2026. R&D expenses increased to $9.4 million from $7.4 million year-over-year, while G&A expenses rose to $3.8 million from $3.5 million.
Elevation Oncology (Nasdaq: ELEV) announced that the FDA has granted Fast Track designation to EO-3021, a differentiated antibody drug conjugate, for treating advanced or metastatic gastric and gastroesophageal junction (GC/GEJ) cancer expressing Claudin 18.2 that has progressed after prior therapy. This designation is based on nonclinical and initial clinical data from the ongoing Phase 1 trial, which showed a confirmed overall response rate of 42.8% in a Claudin 18.2-enriched subset of GC/GEJ cancer patients. The company observed differentiated tolerability with minimal MMAE-associated toxicities. Elevation Oncology plans to report additional data in the first half of 2025 and initiate the combination portion of the study later this year.
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