Core Viewpoint - Elicio Therapeutics, a clinical-stage biotechnology company, has announced an underwritten public offering of approximately $11.5 million to advance its cancer immunotherapy pipeline and for general corporate purposes [1][2]. Group 1: Offering Details - The offering includes 500,000 shares of common stock and accompanying common warrants to purchase up to 500,000 shares at a price of $5.00 per share [8]. - Additionally, pre-funded warrants to purchase up to 1,800,000 shares of common stock at an exercise price of $0.01 are being offered, with a combined public offering price of $4.99 per pre-funded warrant [8]. - The offering is expected to close on or about July 1, 2024, subject to customary closing conditions [8]. Group 2: Use of Proceeds - The net proceeds from the offering will be used alongside existing cash and marketable securities to advance Elicio's development pipeline, working capital, and general corporate purposes [2]. Group 3: Company Overview - Elicio Therapeutics focuses on developing novel lymph node-targeted immunotherapies for aggressive cancers, utilizing AMP technology to enhance the immune response [11]. - The company's R&D pipeline includes therapeutic cancer vaccines targeting mKRAS-driven cancers (ELI-002) and BRAF-driven cancers and p53 hotspot mutations (ELI-007 and ELI-008) [11].
Elicio Therapeutics Announces Pricing of $11.5 Million Underwritten Public Offering