Tegoprubart Beats Tacrolimus on 12-Month Quality-of-Life Measures in Phase 2
ELDN sits 71% above its 52-week low of $1.35.
Summary
Eledon reported 12-month patient-reported outcomes from the Phase 2 BESTOW trial showing tegoprubart beat tacrolimus on quality-of-life and symptom measures in kidney transplant patients. The KDQOL-SF Symptoms and Problems improvement was statistically significant, with a gain of 9.0 points for tegoprubart versus 3.3 for tacrolimus, and the MTSOSD-59R favored tegoprubart in 22 of 23 domains. The SF-12 mental component moved +1.5 for tegoprubart against -1.6 for tacrolimus. This extends the 24-month efficacy and safety data reported in September and adds a tolerability angle that matters for a chronic immunosuppressant. It is still Phase 2 and does not replace the rejection, graft function and safety results a Phase 3 must deliver before any filing. The company ended Q2 with $88.8M in cash against a $31.6M quarterly net loss, so financing remains the binding constraint on getting to that trial.
At the time of this announcement, ELDN was trading at $2.31 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $186.9M. 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 7 out of 10. Source: Wiseek News.