Welcome to our dedicated page for Elicio Therapeutics news (Ticker: ELTX), a resource for investors and traders seeking the latest updates and insights on Elicio Therapeutics stock.
About Elicio Therapeutics, Inc.
Elicio Therapeutics, Inc. (Nasdaq: ELTX) is a clinical-stage biotechnology company pioneering the development of novel immunotherapies designed to prevent cancer recurrence and improve patient outcomes. Leveraging its proprietary Amphiphile (AMP) platform, Elicio delivers therapeutic payloads directly to the lymph nodes, the central hub of the immune response, to enhance the precision, magnitude, and durability of cancer-specific immune activation. This innovative approach positions Elicio at the forefront of the cancer immunotherapy sector, addressing significant unmet needs in the treatment of aggressive cancers.
Core Technology: The Amphiphile (AMP) Platform
Elicio’s AMP technology is engineered to optimize the immune system’s ability to recognize and eliminate cancer cells. By targeting the lymph nodes, the platform facilitates the efficient delivery of antigens, adjuvants, and immunomodulators, amplifying the immune response against tumor-specific mutations. This lymph node-specific engagement is designed to overcome limitations of conventional immunotherapies, offering potential advantages in magnitude, quality, and durability of immune responses. The AMP platform’s versatility allows for broad applicability across various cancer types and therapeutic modalities.
Pipeline and Key Programs
Elicio’s lead candidate, ELI-002, is an off-the-shelf cancer vaccine targeting KRAS mutations, which are implicated in approximately 25% of all solid tumors. ELI-002 is currently being evaluated in the AMPLIFY-7P Phase 1/2 clinical trial, focusing on patients with KRAS-driven pancreatic and colorectal cancers. The vaccine’s seven-peptide formulation is designed to provide immune coverage against multiple KRAS mutations, enhancing its therapeutic potential and patient eligibility. Early clinical data have demonstrated a favorable safety profile, robust T-cell responses, and promising disease-free survival (DFS) outcomes. Additional pipeline candidates, including ELI-007 and ELI-008, target BRAF-driven cancers and p53 hotspot mutations, respectively, further expanding Elicio’s portfolio of innovative immunotherapies.
Market Position and Competitive Differentiation
Operating within the highly competitive biotechnology sector, Elicio distinguishes itself through its groundbreaking AMP platform and focus on high-prevalence, hard-to-treat cancers. The company’s approach to targeting the lymph nodes for immune system activation represents a paradigm shift in cancer immunotherapy, offering potential advantages over traditional methods. By addressing biologically validated but challenging-to-drug targets, Elicio aims to redefine the standard of care for patients with limited treatment options.
Challenges and Opportunities
As a clinical-stage company, Elicio faces challenges common to the biotechnology industry, including regulatory approval processes, competition from other immunotherapy developers, and the inherent risks of clinical trials. However, the company’s innovative technology, promising early clinical data, and focus on high-impact therapeutic areas position it as a compelling player in the field. The potential for partnerships, licensing opportunities, and eventual commercialization of its pipeline products underscores significant growth prospects.
Conclusion
Elicio Therapeutics exemplifies scientific innovation and commitment to addressing unmet medical needs in oncology. Through its AMP platform and robust pipeline, the company is poised to make meaningful contributions to the fight against cancer, offering hope to patients and families impacted by these devastating diseases.
Elicio Therapeutics (Nasdaq: ELTX), a clinical-stage biotech company developing novel immunotherapies for cancer treatment, announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. CEO Robert Connelly will present on September 11, 2024, at 2:30 p.m. ET. The presentation will be available via live webcast and on-demand for 90 days afterward.
Elicio specializes in lymph node-targeted immunotherapies using their proprietary AMP technology. This approach aims to enhance the immune system's cancer-fighting capabilities by delivering therapeutic payloads directly to lymph nodes. Their R&D pipeline includes off-the-shelf therapeutic cancer vaccines ELI-002 (for mKRAS-driven cancers), ELI-007, and ELI-008 (for BRAF-driven cancers and p53 hotspot mutations, respectively).
Elicio Therapeutics (Nasdaq: ELTX) reported Q2 2024 financial results and provided corporate updates. Key highlights include:
- AMPLIFY-7P Phase 1 data showed 100% of patients developed mKRAS-specific T-cell responses
- Phase 2 randomized trial of ELI-002 expected to complete 135-patient enrollment in Q4 2024
- $43 million raised in 2024, funding operations into Q2 2025
- Q2 2024 R&D expenses increased to $8.2 million from $4.9 million in Q2 2023
- Net loss for Q2 2024 was $7.2 million or $0.64 per share
- Cash and equivalents as of June 30, 2024 were $3.4 million, not including $29.6 million in subsequent financings
Elicio Therapeutics (Nasdaq: ELTX) has announced the closing of a $20.0 million private placement of a 3.0% Senior Secured Convertible Promissory Note due February 15, 2026. The note was purchased by GKCC, , an entity controlled by an Elicio board member. Key details include:
- Initial conversion price: $5.81 per share (135% of closing price on August 9, 2024)
- Interest: 3% per annum, payable quarterly in cash
- Maturity date: February 15, 2026
- Use of proceeds: Working capital and general corporate purposes
The convertible note is secured and senior to other obligations. Elicio granted customary registration rights for shares issuable upon conversion. This private placement was conducted under Section 4(a)(2) of the Securities Act of 1933.
Elicio Therapeutics (Nasdaq: ELTX) has announced the pricing of an $11.5 million public offering. This includes 500,000 shares of common stock and warrants to purchase another 500,000 shares at $5.00 per share, as well as pre-funded warrants for 1,800,000 shares at an exercise price of $0.01 each, with accompanying warrants also priced at $5.00 per share.
The offering is expected to close by July 1, 2024, subject to customary conditions. The funds will support Elicio's development pipeline, working capital, and general corporate purposes. JonesTrading Institutional Services is the sole book-running manager.
Elicio Therapeutics (Nasdaq: ELTX), a clinical-stage biotechnology firm, has announced the commencement of an underwritten public offering of its common stock and accompanying warrants. This offering includes pre-funded warrants for certain investors as an alternative to common stock.
The size and terms of the offering are yet to be determined and are subject to market conditions. The proceeds will be utilized for advancing Elicio's development pipeline, as well as for working capital and general corporate purposes. JonesTrading Institutional Services is the sole book-running manager for this offering.
A shelf registration statement for these securities was filed and became effective on June 11, 2024, with the SEC. Preliminary prospectus supplements and accompanying documents will be available on the SEC's website.
Elicio Therapeutics reported preliminary data from its AMPLIFY-7P Phase 1a study of ELI-002 7P, an investigational therapeutic cancer vaccine. Administered as a monotherapy at the Phase 2 dose of 4.9mg AMP-peptide, ELI-002 7P shows promising disease-free survival (DFS) data in pancreatic ductal adenocarcinoma patients.
As of May 24, 2024, the study includes 14 patients with minimal residual disease and a median follow-up of 29.1 weeks. The median DFS has not been reached for patients receiving the 4.9mg dose, compared to 12.6 weeks for those on the 1.4mg dose. Patients showing tumor biomarker reduction and strong T cell response had no progression events, whereas those without biomarker response had a median DFS of 11.0 weeks.
Elicio plans further updates on the AMPLIFY Phase 1 trials later in 2024, with a Phase 2 interim analysis expected in Q1 2025.
Elicio Therapeutics (Nasdaq: ELTX), a biotechnology company specializing in immunotherapies for cancer, announced on June 18, 2024, the issuance of 5,400 inducement stock options to two new employees. These options, granted on June 17, 2024, align with Nasdaq Listing Rule 5635(c)(4) and were approved by the board's Compensation Committee under the 2024 Inducement Incentive Award Plan. The options are priced at $7.98 each, reflecting the closing price on the grant date. Vesting occurs over four years with 25% vesting on the first anniversary of the employees' start dates, and the remaining vesting monthly thereafter, contingent on continued employment.
Elicio Therapeutics revealed preliminary data from their AMPLIFY-7P Phase 1a study of ELI-002 7P at the ASCO 2024 Annual Meeting. The cancer vaccine candidate, targeting mKRAS-driven solid tumors, showed promising results. ELI-002 7P was well tolerated and induced a significant (~100x) mKRAS-specific T cell response in all enrolled patients.
Key findings included CD8+ and CD4+ responses in 66.7% of patients at the 4.9 mg dose, and tumor biomarker reductions in 71% of evaluable patients. Antigen-spreading, targeting non-immunizing tumor neoantigens, was observed in all patients at the 4.9 mg dose. The study supports further development, with the recommended Phase 2 dose being 10.0 mg AMP-CpG-7909 with 4.9 mg AMP-Peptides 7P.
Elicio Therapeutics (Nasdaq: ELTX) reported its Q1 2024 financial results and provided corporate updates on its lead cancer vaccine programs, ELI-002 2P and ELI-002 7P.
Q1 financial highlights include a net loss of $11.8 million, increased R&D expenses of $7.6 million, and G&A expenses of $2.7 million. Cash reserves stood at $11.9 million as of March 31, 2024.
ELI-002 2P data was published in Nature Medicine, showing promising immunogenicity and safety. ELI-002 7P is in Phase 2 trials, with preliminary Phase 1 data to be presented at ASCO in June 2024.
Upcoming milestones include completing Phase 2 enrollment for ELI-002 7P by Q4 2024 and providing updated data for ELI-002 2P in Q4 2024.
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