Overview of Empery Asset Management - Empery Asset Management, located at 1 Rockefeller Plaza, New York, focuses on investments in healthcare and consumer cyclicals, managing an equity portfolio valued at approximately $17 million [2] - The firm has a portfolio of 88 stocks, with top holdings including Unity Biotechnology Inc and Greenwave Technology Solutions Inc [2] Recent Transaction - On September 30, 2024, Empery Asset Management acquired 4,000,000 shares of Elevation Oncology Inc at a price of $0.5999 per share, increasing its stake in the company to 4.99% [1] - This acquisition represents a strategic move within the healthcare sector, enhancing the firm's exposure to biotechnology [4] Insight into Elevation Oncology Inc - Elevation Oncology Inc specializes in developing targeted therapeutics for cancer treatment, focusing on rare genomic alterations [3] - Since its IPO on June 25, 2021, Elevation Oncology has faced significant market challenges, with a current market capitalization of $31.511 million and a stock price of $0.5331, reflecting a 96.19% decline since its IPO [3][5] Financial Health and Growth Prospects - Elevation Oncology's financial health is concerning, with a Profitability Rank of 1/10 and a Growth Rank of 0/10, although its balance sheet scores better with a rank of 7/10 [6] - The company has a cash-to-debt ratio of 3.59, but negative EBITDA and earnings growth over the past three years raise concerns about its long-term growth prospects [6] Market Performance and Valuation Metrics - Elevation Oncology's stock has declined 15.25% year-to-date, with a GF Score of 33/100 indicating challenges in market performance and future potential [5] - The stock's current price-to-GF Value ratio stands at 0.00, suggesting difficulties in assessing its fair market value [5] Comparative Industry Analysis - Within the biotechnology industry, Elevation Oncology's financial and market performance metrics lag behind industry standards, raising questions about its competitive standing [7] - The firm's focus on niche genomic alterations provides a unique market position, but its financial metrics and market performance are concerning [7] Conclusion - Empery Asset Management's acquisition of Elevation Oncology shares reflects a calculated risk in a volatile sector, highlighting a long-term investment strategy that may depend on future scientific breakthroughs and market acceptance of ELEV's therapeutic developments [8]

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The stock of Elevation Oncology Inc. ELEV is trading lower on Tuesday after the company reported initial data from the dose escalation portion of the ongoing Phase 1 trial of EO-3021 in patients with advanced, unresectable, or metastatic solid tumors likely to express Claudin 18.2, including gastric, gastroesophageal junction, pancreatic, or esophageal cancers. As of the data cutoff date of June 10, 32 patients had been treated. EO-3021 was observed to be generally welltolerated. No Grade 4 or 5 treatment-r ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40523 Elevation Oncology, Inc. (Exact name of registrant as specified in its charter) Delaware 84-1771427 (Sta ...

Exhibit 99.1 Elevation Oncology Reports Second Quarter 2024 Financial Results and Highlights Recent Business Achievements -- Today announced promising initial data from Phase 1 clinical trial of EO-3021; 42.8% confirmed ORR observed in Claudin 18.2-enriched subset of gastric and GEJ cancer, with differentiated safety profile -- -- Advancing into dose expansion portion of Phase 1 trial; additional monotherapy data expected in 1H 2025 -- -- Secured clinical supply agreements to evaluate EO-3021 in combination ...

-- Today announced promising initial data from Phase 1 clinical trial of EO-3021; 42.8% confirmed ORR observed in Claudin 18.2-enriched subset of gastric and GEJ cancer, with differentiated safety profile -- -- Advancing into dose expansion portion of Phase 1 trial; additional monotherapy data expected in 1H 2025 -- -- Secured clinical supply agreements to evaluate EO-3021 in combination with ramucirumab and dostarlimab with Lilly and GSK, respectively; expect to initiate dosing in combination portion of th ...

Core Insights - Elevation Oncology announced promising initial data from the Phase 1 clinical trial of EO-3021, an antibody drug conjugate targeting Claudin 18.2, showing a 42.8% objective response rate (ORR) in a subset of gastric and gastroesophageal junction (GEJ) cancer patients [1][7] - The drug demonstrated a differentiated safety profile with minimal MMAE-associated toxicities, including no cases of neutropenia or peripheral neuropathy/hypoesthesia [1][4] - The company plans to advance into the dose expansion portion of the trial and expects to initiate combination dosing by the end of 2024 [1][10] Clinical Trial Details - EO-3021 was evaluated in a Phase 1 trial involving 32 patients with advanced, unresectable or metastatic solid tumors likely to express Claudin 18.2, with a median age of 65 years and a median of three prior lines of therapy [3] - The trial included a dose escalation stage with doses ranging from 1.0 mg/kg to 2.9 mg/kg administered every three weeks [3] Safety and Efficacy Data - As of June 10, 2024, EO-3021 was generally well-tolerated, with no Grade 4 or 5 treatment-related adverse events reported, and less than 10% of patients discontinued due to adverse events [4] - The most common treatment-emergent adverse events included nausea (56%), decreased appetite (47%), fatigue (41%), and diarrhea (28%) [5] - Among 15 evaluable patients with Claudin 18.2 expression in ≥20% of tumor cells, the ORR was 42.8%, while in patients with <20% expression, the ORR was 0% [7][6] Future Development Plans - Elevation Oncology plans to initiate enrollment in the dose expansion portion of the trial, focusing on two doses: 2.0 mg/kg and 2.5 mg/kg [8] - The primary objective of the study is to evaluate safety, tolerability, and preliminary anti-tumor activity in patients who have progressed on or after standard therapy [9] - The company also intends to explore combination therapies with ramucirumab and dostarlimab in future cohorts [10]

Core Insights - Elevation Oncology is expanding its Phase 1 clinical trial for EO-3021 to include two combination cohorts targeting advanced gastric or gastroesophageal junction cancer, with dosing expected to start by the end of 2024 [4][9] - The company has entered into clinical supply agreements with Eli Lilly and GSK to evaluate EO-3021 in combination with ramucirumab and dostarlimab, respectively [4][10] - EO-3021 is designed as a differentiated antibody-drug conjugate targeting Claudin 18.2, with a favorable safety profile and potential for improved efficacy when combined with other therapies [7][16] Clinical Development Plans - The ongoing Phase 1 trial will assess EO-3021 as a monotherapy, with initial safety and efficacy data expected by mid-third quarter 2024 and further data in the first half of 2025 [6][9] - The combination cohorts will include dose escalation and expansion phases, focusing on safety and anti-tumor activity [8][9] - EO-3021 aims to provide improved outcomes in second-line settings when combined with ramucirumab and in front-line settings with dostarlimab [10] Market Opportunity - The combination cohorts are intended to address unmet medical needs in both first-line and second-line treatment settings for gastric or gastroesophageal junction cancer [3][4] - EO-3021's unique mechanism and safety profile may allow it to become a best-in-class treatment option for tumors expressing Claudin 18.2, which includes a majority of gastric and gastroesophageal junction adenocarcinomas [7][16] - The company retains exclusive rights to develop and commercialize EO-3021 outside Greater China, indicating a strategic focus on global market opportunities [11]

BOSTON, May 7, 2024 /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 that Joseph J. Ferra, Chief Executive Officer of Elevation Oncology, will participate in a fireside chat at the Citizens JMP Life Sciences Conference on Tuesday, May 14, 2024, at 11:30 am ET.A live webcast and replay of the event ...

Recent Business Achievements Exhibit 99.1 Elevation Oncology Reports First Quarter 2024 Financial Results and Highlights Recent Business Achievements -- Enrollment ongoing in Phase 1 clinical trial of EO-3021 in the U.S. and Japan; expect to announce initial safety and efficacy data by mid-3Q 2024, with additional data in 1H 2025 -- -- Presented preclinical proof-of-concept data for HER3-ADC program at AACR Annual Meeting; on-track to nominate development candidate in 2H 2024 -- -- Raised $44.2 million year ...