Core Insights - Elevation Oncology is advancing its Claudin 18.2 ADC program, EO-3021, for advanced gastric/gastroesophageal junction cancer, with initial data from combination cohorts expected in Q4 2025 or Q1 2026 [1][2] - The company has implemented prospective Claudin 18.2 testing in its ongoing Phase 1 trial to better identify patients likely to benefit from EO-3021 [2][3] - Financial results for the year ended December 31, 2024, show an increase in cash reserves and R&D expenses, reflecting ongoing investment in clinical trials [5][6][14] Clinical Development - EO-3021 is currently being evaluated in combination with dostarlimab and ramucirumab in Phase 1 clinical trials [1][3] - Preclinical data presented at ESMO-IO 2024 demonstrated superior tumor growth inhibition when EO-3021 was combined with either a PD-1 inhibitor or a VEGFR2 inhibitor [3] - The company plans to file an Investigational New Drug (IND) application for its HER3 ADC, EO-1022, in 2026 [1][4][11] Financial Performance - As of December 31, 2024, Elevation Oncology reported cash, cash equivalents, and marketable securities totaling $93.2 million, up from $83.1 million in 2023 [5][14] - R&D expenses for Q4 2024 were $6.6 million, an increase from $4.7 million in Q4 2023, driven by clinical trial costs [6][13] - The net loss for Q4 2024 was $10.4 million, compared to $7.9 million in Q4 2023 [8][13] Upcoming Milestones - The company expects to report additional safety and efficacy data from the EO-3021 monotherapy trial in Q2 2025 [11] - Initial data from the combination cohorts of the EO-3021 trial is anticipated in Q4 2025 or Q1 2026 [1][11] - Preclinical data for EO-1022 will be presented at the AACR Annual Meeting in 2025 [1][11]