Core Viewpoint - Elicio Therapeutics, Inc. has announced a registered direct offering to institutional investors, aiming to raise approximately $10 million through the sale of 1,261,830 shares of common stock and accompanying warrants, with a purchase price of $7.925 per share [1][2]. Group 1: Offering Details - The offering includes warrants that can be exercised at an exercise price of $7.80 per share, immediately upon issuance, and will expire five years from the initial exercise date [1]. - The closing of the offering is expected to occur on or about January 30, 2025, pending customary closing conditions [1]. - H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering [2]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and other general corporate purposes [2]. Group 3: Company Overview - Elicio Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies for cancer treatment, particularly targeting high-prevalence cancers such as mKRAS-positive pancreatic and colorectal cancers [5]. - The company is advancing its lead program, ELI-002, which is an off-the-shelf vaccine candidate targeting common KRAS mutations found in approximately 25% of all solid tumors [5]. - Elicio's pipeline also includes additional therapeutic cancer vaccines, ELI-007 and ELI-008, targeting BRAF-driven cancers and p53 hotspot mutations, respectively [5].
Elicio Therapeutics Announces $10.0 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules