Core Insights - Elicio Therapeutics reported strong preliminary results from the AMPLIFY-7P Phase 1 trial, showing a 100% mKRAS-specific T cell response among patients, with approximately 66% of responses involving both CD4+ and CD8+ T cells [1][2] - The company raised $43 million in 2024, providing funding into the second quarter of 2025, which supports ongoing clinical trials [1][2] - The AMPLIFY-7P Phase 2 trial is expected to complete enrollment of 135 patients by the fourth quarter of 2024, with interim analysis anticipated in early 2025 [1][6] Clinical Developments - The AMPLIFY-7P trial is a multicenter Phase 1/2 study assessing ELI-002 7P in patients with high relapse risk mutant KRAS-driven solid tumors [2] - Initial data from the ELI-002 Phase 1 trial indicated that the 7-peptide formulation is well-tolerated and generates a significantly larger T cell response compared to the 2-peptide formulation [2][3] - As of the May 24, 2024 data cutoff, patients receiving the recommended Phase 2 dose of 4.9 mg AMP-peptide had not yet reached the median disease-free survival [3][4] Financial Performance - Research and development expenses for Q2 2024 were $8.2 million, up from $4.9 million in Q2 2023, primarily due to increased clinical trial costs [7] - The net loss for Q2 2024 was $7.2 million, a slight improvement from a net loss of $7.6 million in Q2 2023, with a net loss per share of $0.64 compared to $2.61 in the previous year [8][10] - Cash and cash equivalents as of June 30, 2024, were $3.4 million, down from $12.9 million at the end of 2023, not including recent financing proceeds [9][11] Upcoming Milestones - Updated immunogenicity and relapse-free survival data from the AMPLIFY-201 trial is expected in Q4 2024 [6] - Preliminary disease-free survival data from the ELI-002 7P monotherapy Phase 1a arm is anticipated in Q1 2025 [6] - Completion of enrollment for the randomized Phase 2 trial is expected in Q4 2024, with interim analysis in Q1 2025 [6]
Elicio Therapeutics Reports Second Quarter 2024 Financial Results and Provides Corporate Updates