Eledon Pharmaceuticals(US:ELDN)2025-03-20 20:05Clinical Developments - Tegoprubart was used as a key component in the second transplant of a genetically modified pig kidney into a human, with the patient discharged without the need for dialysis for the first time in over two years[3]. - Initial positive data from the first three subjects with type 1 diabetes treated with tegoprubart showed potential insulin independence without the use of tacrolimus[4]. - Anticipated milestones include topline results from the Phase 2 BESTOW trial in Q4 2025 and updated interim clinical data from ongoing trials in 2025[10]. Financial Performance - Cash, cash equivalents, and short-term investments totaled $140.2 million as of December 31, 2024, compared to $78.2 million at September 30, 2024, extending the cash runway to the end of 2026[6]. - Research and development expenses for Q4 2024 were $17.9 million, up from $7.1 million in Q4 2023, driven by increased clinical development expenses[7]. - General and administrative expenses for Q4 2024 were $6.8 million, compared to $3.3 million in Q4 2023, reflecting higher stock-based compensation and professional services[8]. - Net loss for Q4 2024 was $44.6 million, or $0.64 per basic share, compared to a net loss of $30.1 million, or $1.00 per basic share, in Q4 2023[9]. - Full year 2024 net loss was $36.2 million, or $0.75 per basic share, significantly improved from a net loss of $116.5 million, or $4.73 per basic share, in 2023[13]. - The company completed an oversubscribed offering for total gross proceeds of $85 million, with net proceeds of approximately $79.5 million after expenses[4]. - Total assets increased to $177.4 million as of December 31, 2024, compared to $89.1 million in 2023, reflecting strong balance sheet growth[19].