Eledon Pharmaceuticals(US:ELDN) Globenewswire·2025-11-14 22:00Core Insights - Eledon Pharmaceuticals reported favorable results from the Phase 2 BESTOW trial for tegoprubart, indicating a potential new standard for kidney transplant rejection prevention [1][2] - The company strengthened its financial position with a $57.5 million financing to support its transplantation programs [1][2] Business Highlights - The Phase 2 BESTOW trial demonstrated tegoprubart's efficacy and safety, significantly reducing toxicities associated with tacrolimus [2][7] - Eledon plans to advance tegoprubart into Phase 3 development after discussions with regulators regarding study design and data requirements [7] - The company aims to address unmet needs in transplant medicine, including kidney and islet cell transplantation, as well as xenotransplantation [2] Financial Results - As of September 30, 2025, Eledon's cash, cash equivalents, and short-term investments totaled $93.4 million, down from $140.2 million at the end of 2024 [5] - Research and development expenses for Q3 2025 were $15.0 million, a decrease from $16.5 million in Q3 2024 [5] - General and administrative expenses were $4.1 million in Q3 2025, slightly up from $4.0 million in Q3 2024 [6] - The net loss for Q3 2025 was $17.5 million, compared to a net income of $77.0 million in Q3 2024, which included a non-cash gain related to warrant liabilities [8][15] Upcoming Milestones - In Q4 2025, Eledon plans to enroll the final three patients in a clinical study evaluating tegoprubart for islet cell transplantation [7] - In 2026, the company expects to receive FDA guidance on the Phase 3 trial design for kidney transplantation and initiate the trial [7] - Long-term data from the Phase 1 and Phase 2 BESTOW studies will be reported in 2026, along with data from the islet cell transplantation study [7]