Eledon's Tegoprubart Shows Durable Kidney Function, Wins FDA Fast Track
ELDN has more than doubled off its 52-week low of $1.35.
Summary
Eledon's lead drug tegoprubart delivered strong 24-month Phase 2 data in kidney transplant patients, maintaining a ~13 mL/min/1.73 m² eGFR advantage over tacrolimus and showing zero rejections beyond six months versus seven in the control arm. The FDA also granted Fast Track designation, which could speed development and review. This follows the 12-month data presented in November and the Q2 update noting FDA alignment on the Phase 3 program. The company remains on track to start the Phase 3 LEGACY trial in Q4 2026, a key near-term milestone. With a $234M market cap and $88.8M in cash as of Q2, positive data and regulatory tailwinds are material for the stock.
At the time of this announcement, ELDN was trading at $2.89 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $234.4M. The 52-week trading range was $1.35 to $4.60. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.