-- EO-1022 is a potentially differentiated HER3 ADC designed to address significant unmet needs across multiple solid tumors -- -- On-track to file IND application in 2026 --BOSTON, April 25, 2025 /PRNewswire/ -- Elevation Oncology, Inc. (Nasdaq: ELEV), an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs, today announced new preclinical proof-of-concept data for its novel H ...

-- Abstract accepted for late-breaking poster presentation – -- EO-1022 is a potentially differentiated HER3 ADC being developed for the treatment of solid tumors, including breast and non-small cell lung cancers -- -- On-track to file an Investigational New Drug (IND) application in 2026 – BOSTON, March 25, 2025 /PRNewswire/ -- Elevation Oncology, Inc. (Nasdaq: ELEV), an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of so ...

Shares of Elevation Oncology (ELEV) plunged more than 40% yesterday after reporting disappointing data from a phase I study on its lead pipeline drug EO-3021 for treating advanced, unresectable or metastatic gastric and gastroesophageal junction (GEJ) cancers.Data from the study showed that patients who were treated with ELEV’s lead drug showed an objective response rate (ORR) of 22.2% —out of 36 evaluable patients, there was one complete response and seven partial responses.ELEV’s Stock PerformanceFollowin ...

On Thursday, Elevation Oncology, Inc. ELEV elected to discontinue the development of EO-3021, a Claudin 18.2 antibody-drug conjugate (ADC). The company was developing a treatment for advanced, unresectable or metastatic gastric and gastroesophageal junction cancers. The decision came due to disappointing data from the dose escalation and expansion stages of Elevation Oncology's Phase 1 trial. Treatment with EO-3021 as monotherapy demonstrated an objective response rate of 22.2% (1 confirmed complete respons ...

"We are deeply disappointed by these results from our Phase 1 trial. Despite continuing to demonstrate differentiated safety as a more combinable ADC, updated efficacy data suggest that treatment with EO-3021 does not meet our bar for success and is insufficient to provide patients a competitive benefit-risk profile compared to other Claudin 18.2 ADCs in development," said Joseph Ferra, President and Chief Executive Officer of Elevation Oncology. "Based on these data, we have decided to discontinue further ...

Financial Performance - As of December 31, 2024, Elevation Oncology had cash, cash equivalents, and marketable securities totaling $93.2 million, an increase from $83.1 million as of December 31, 2023, reflecting net proceeds of $44.2 million raised through its at-the-market facility[5]. - The net loss for the fourth quarter of 2024 was $10.4 million, compared to a net loss of $7.9 million for the fourth quarter of 2023[8]. - Elevation Oncology's total operating expenses for the year ended December 31, 2024, were $44.7 million, slightly down from $45.4 million in 2023[15]. Research and Development - Research and development (R&D) expenses for the fourth quarter of 2024 were $6.6 million, up from $4.7 million in the fourth quarter of 2023, with total R&D expenses for the year at $28.6 million compared to $25.4 million in 2023[6]. - Preclinical data for HER3 ADC EO-1022 will be presented at the AACR Annual Meeting in the second quarter of 2025, with an IND application planned for 2026[10]. - Elevation Oncology expects to report additional safety and efficacy data from the ongoing Phase 1 clinical trial of monotherapy EO-3021 in the second quarter of 2025[10]. - Initial data from the combination cohorts of the Phase 1 clinical trial of EO-3021 is expected to be reported in the fourth quarter of 2025 or the first quarter of 2026[10]. - The company implemented prospective Claudin 18.2 expression testing in January 2025 as part of the patient screening process for its ongoing Phase 1 trial of EO-3021[3]. Clinical Trial Results - The combination of EO-3021 with a PD-1 inhibitor showed a tumor growth inhibition (TGI) of 79.9%, compared to 33.8% for EO-3021 alone[9]. General and Administrative Expenses - General and administrative (G&A) expenses for the fourth quarter of 2024 were $4.0 million, compared to $3.3 million in the fourth quarter of 2023, with total G&A expenses for the year at $16.1 million versus $14.9 million in 2023[7].

-- Dosing ongoing in Phase 1 clinical trial cohorts evaluating Claudin 18.2 ADC EO-3021 in combination with ramucirumab or dostarlimab in patients with advanced gastric/gastroesophageal junction (GEJ) cancer -- -- Expect to report initial data from combination cohorts in 4Q 2025 or 1Q 2026 ---- On-track to report additional monotherapy data from dose escalation and expansion cohort of ongoing Phase 1 clinical trial in 2Q 2025 ---- Preclinical data for HER3 ADC EO-1022 to be presented at American Association ...

Table of Contents For The Transition Period From To Commission file number: 001-40523 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ELEVATION ONCOLOGY, INC. Indicate by check mark if the registrant is not required to file reports pursuant to Section 1 ...

-- Initiated dosing in Phase 1 clinical trial cohort evaluating Claudin 18.2 ADC EO-3021 in combination with ramucirumab or dostarlimab in patients with advanced gastric/gastroesophageal junction (GEJ) cancer -- -- Expect to report initial data from combination cohort in 4Q 2025 or 1Q 2026 ---- On-track to report additional monotherapy data from dose escalation and expansion cohorts of ongoing Phase 1 clinical trial in 1H 2025 ---- Plan to present preclinical data for HER3 ADC EO-1022 in 1H 2025 and file an ...

-- Treatment with both combination regimens demonstrates synergistic anti-tumor activity, supporting planned combination strategy for EO-3021 in patients with gastric or gastroesophageal junction (GEJ) cancer – -- On-track to initiate dosing in combination portion of the ongoing Phase 1 clinical trial of EO-3021 in the fourth quarter of 2024 -- BOSTON, Dec. 5, 2024 /PRNewswire/ -- Elevation Oncology, Inc. (Nasdaq: ELEV), an innovative oncology company focused on the discovery and development of selective ca ...