Eledon Pharmaceuticals (ELDN) Company Overview

Eledon Pharmaceuticals' Tegoprubart, a second-gen anti-CD40L antibody, shows promise in preventing organ rejection without thromboembolic risks, addressing unmet needs in kidney and islet cell transplantation. Early trials indicate Tegoprubart's safety and efficacy, with no major side effects and better kidney function compared to current standards like tacrolimus. Eledon has a market cap of $264mn, a cash balance of $78mn, and a cash runway of 7-8 quarters, but remains a high-risk investment.

Completed enrollment in Phase 2 BESTOW trial assessing tegoprubart in kidney transplantation four months ahead of schedule; on track to report topline results in fourth quarter of 2025 Presented updated data on 13 participants from ongoing Phase 1b trial that continue to support safety and tolerability of tegoprubart for prevention of organ rejection in kidney transplantation Announced positive initial data from first three subjects with type 1 diabetes treated with tegoprubart as part of immunosuppression regimen following islet transplantation in investigator-initiated trial at UChicago Medicine Completed two financings totaling $135 million in combined gross proceeds, with funds expected to support operations through end of 2026 IRVINE, Calif., Jan. 13, 2025 (GLOBE NEWSWIRE) -- Eledon Pharmaceuticals, Inc. (“Eledon”) (Nasdaq: ELDN) today announced a summary of 2024 accomplishments and provided guidance for anticipated 2025 business milestones.

Eledon Announces Completion of Enrollment in Phase 2 BESTOW Clinical Trial Assessing Tegoprubart for Prevention of Organ Rejection in Kidney Transplants

Presented updated data on 13 participants from ongoing Phase 1b trial evaluating tegoprubart for prevention of rejection in kidney transplantation 80 participants (two-thirds of projected recruitment) enrolled in Phase 2 BESTOW trial Completed an oversubscribed $50 million private placement; Company expects sufficient liquidity through December 2025 IRVINE, Calif., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Eledon Pharmaceuticals, Inc. (“Eledon”) (Nasdaq: ELDN) today reported recent business highlights for its second quarter 2024.

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Data from 13 participants presented at the American Transplant Congress continue to support safety and tolerability profile of tegoprubart Overall mean eGFR of all reported time points after day 30 post-transplant of 70.5 mL/min/1.73m² Mean eGFR measured above 60 mL/min/1.73m ² at all reported time points after day 30 post-transplant IRVINE, Calif., June 03, 2024 (GLOBE NEWSWIRE) -- Eledon Pharmaceuticals, Inc. (“Eledon”) (NASDAQ: ELDN) today presented updated data from the Company's ongoing open-label Phase 1b trial and open-label extension study evaluating tegoprubart for the prevention of organ rejection in kidney transplant patients.

Eledon Pharmaceuticals (ELDN) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

Does Eledon Pharmaceuticals, Inc. (ELDN) have what it takes to be a top stock pick for momentum investors? Let's find out.

Eledon Pharmaceuticals (ELDN) could see an increase in its stock price due to increasing confidence in its earnings potential, as indicated by its upgrade to a Zacks Rank #2 (Buy).