Core Insights - Elicio Therapeutics is advancing its pipeline of novel cancer immunotherapies, with significant progress reported in the AMPLIFY-7P Phase 1a trial, showing durable T cell responses and potential disease-free survival benefits in patients with KRAS mutant tumors [2][3] - The company has strengthened its cash position, which is expected to support operations into Q2 2025, beyond the anticipated interim analysis of the AMPLIFY-7P Phase 2 study [2][8] Clinical Developments - The AMPLIFY-7P Phase 2 randomized study is expected to complete enrollment in Q4 2024, with a formal interim analysis of disease-free survival anticipated in H1 2025 [1][4] - Elicio presented data at the SITC 2024 Annual Meeting, highlighting the clinical efficacy of ELI-002 in mKRAS-driven solid tumors, including tumor biomarker reductions and robust T cell responses [2][3] - Upcoming presentations include updated relapse-free survival and overall survival data from the AMPLIFY-201 study at the 2024 ESMO Immuno-Oncology Congress [4] Financial Performance - For Q3 2024, Elicio reported R&D expenses of $7.2 million, slightly down from $7.3 million in Q3 2023, primarily due to reduced clinical trial expenses [5] - General and administrative expenses decreased to $3.1 million in Q3 2024 from $3.5 million in Q3 2023, attributed to lower external costs related to a merger [6] - The net loss for Q3 2024 was $18.8 million, compared to $10.7 million in Q3 2023, with a net loss per share of $1.39 [7] Cash Position - As of September 30, 2024, Elicio had cash and cash equivalents of $26.0 million, an increase from $12.9 million at the end of 2023, indicating improved liquidity [10] - The company has implemented operational changes to reduce expenses, ensuring that current cash reserves will support operations into Q2 2025 [8]
Elicio Therapeutics Reports Third Quarter 2024 Financial Results and Provides Corporate Updates