Elicio Therapeutics (ELTX -3.20%), a biotechnology firm targeted on immunotherapies for most cancers, reported its second quarter outcomes on August 7, 2025, for the interval ending June 30. The corporate recorded a web loss per share of $0.66 (GAAP) for the second quarter, lower than the anticipated $(0.69) loss (GAAP). Analysis and growth spending (GAAP) fell from the prior yr, whereas common administration prices elevated. No product income was reported, as the corporate stays within the scientific growth section. The quarter’s spotlight was a optimistic unbiased assessment permitting its lead pancreatic most cancers vaccine trial to proceed as deliberate. Elicio’s working spending and money stability mirrored regular administration forward of an necessary upcoming scientific milestone.
MetricQ2 2025Q2 2025 EstimateQ2 2024Y/Y ChangeEPS (GAAP)$(0.66)$(0.69)$(0.64)(3.1% lower)Income (GAAP)N/A$0.0N/AN/AR&D Expense$7.0 million$8.2 million(14.6%)G&A Expense$3.1 million$2.7 million14.8percentNet Loss$(10.6 million)$(7.2 million)(47.2%)
Supply: Analyst estimates for the quarter offered by FactSet.
Firm Overview and Enterprise Mannequin
Elicio Therapeutics operates as a clinical-stage biotechnology firm. It develops immunotherapies to assist the physique’s immune system acknowledge and assault most cancers by concentrating on particular genetic mutations that drive tumor development. The corporate’s core know-how, referred to as Amphiphile (AMP), is engineered to direct vaccine parts to the lymph nodes, which play a central position in activating immune cells often known as T cells.
The corporate’s major enterprise focus is advancing its AMP platform by way of scientific trials. Its lead product candidate, ELI-002, is an off-the-shelf vaccine aimed toward treating cancers with KRAS mutations. These mutations are generally present in strong tumors together with pancreatic and colorectal cancers. Success is determined by exhibiting that AMP-based therapies really enhance affected person outcomes in well-designed research and on securing sufficient funding to keep up analysis into additional phases of growth.
Quarter Highlights and Operational Developments
The corporate’s main information this quarter was progress in its ELI-002 7P program for pancreatic most cancers. In August, a panel of unbiased consultants, often known as the Impartial Knowledge Monitoring Committee (IDMC), reviewed mid-stage outcomes from the Section 2 AMPLIFY-7P trial. The IDMC authorized the examine to proceed with out adjustments, citing optimistic efficacy and security findings thus far. This inexperienced gentle implies that Elicio will have the ability to full its pivotal evaluation later within the yr.
Working prices shifted year-over-year. Analysis and growth spending (GAAP) dropped by $1.2 million, reflecting much less manufacturing exercise because the ELI-002 scientific program superior. In the meantime, common and administrative prices elevated by $0.4 million, primarily associated to bills for a financing deal accomplished in June.
Whole working bills (GAAP) stood at $10.1 million for the second quarter, decrease than the prior yr interval. The corporate’s web loss (GAAP) widened to $10.6 million, in comparison with $7.2 million within the prior yr interval. Administration attributed this primarily to a routine adjustment within the worth of excellent warrants and the popularity of a grant revenue line.
No income was acknowledged, as is typical for a biotech firm that has not but commercialized a product. Elicio added $10 million in new, non-dilutive financing in the course of the second quarter, extending its money reserves. This helps cowl operations by way of at the very least the primary quarter of 2026 and will get the corporate previous the vital information readout for its AMPLIFY-7P trial in pancreatic most cancers.
Medical Pipeline and Key Success Elements
ELI-002 is an experimental vaccine for cancers pushed by mutated KRAS genes. It’s designed for use in a broad part of sufferers with pancreatic and colorectal most cancers, concentrating on a few quarter of all strong tumors. The corporate’s major scientific trial, referred to as AMPLIFY-7P, is testing whether or not ELI-002 can enhance the size of time sufferers stay freed from most cancers after preliminary remedy. Earlier information from the AMPLIFY-201 Section 1 trial, offered on the ESMO Immuno-Oncology Congress 2024, confirmed a median recurrence-free survival of 16.3 months and a median total survival of 28.9 months for sufferers. These figures are getting used to help ongoing growth.
Past ELI-002, Elicio is engaged on different preclinical candidates named ELI-007 and ELI-008, which goal the BRAF and TP53 gene mutations present in different sorts of most cancers. All these candidates use the identical AMP know-how, which goals to extend immune response within the lymph nodes. Plans are in place to increase using this platform past most cancers, into areas comparable to infectious illness and autoimmune issues. Strategic collaborations are thought of necessary for this subsequent stage, however none have been reported throughout this quarter.
Monetary Outlook and Wanting Forward
Administration said that its present money reserves ought to help operations by way of the primary quarter of 2026. No new partnership offers or income streams have been introduced. An necessary scientific milestone is arising: the subsequent evaluation of the AMPLIFY-7P trial will happen within the final quarter of 2025, which might inform plans to start out a pivotal Section 3 trial. The corporate beforehand agreed with the U.S. Meals and Drug Administration (FDA) on the primary options of this future trial.
No formal steering on future income or earnings was offered. The first focus stays advancing its scientific applications and preserving money whereas making ready for potential regulatory discussions after the upcoming examine outcomes.
Income and web revenue offered utilizing U.S. usually accepted accounting rules (GAAP) except in any other case famous.
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