Eledon Pharmaceuticals (ELDN) Company Report

Eledon Pharmaceuticals completed a $57.5 million financing in 2025, which is anticipated to support company operations into the second quarter of 2027.
The company reported favorable efficacy, safety, and tolerability data from the Phase 2 BESTOW trial of tegoprubart in kidney transplantation, supporting its advancement into Phase 3 development in 2026.
Positive preliminary results were reported from the first six patients with type 1 diabetes treated with tegoprubart following islet transplantation, and tegoprubart continued to be used in xenotransplants.
Anticipated 2026 milestones include receiving U.S. FDA guidance on the Phase 3 trial design for kidney transplantation and reporting updated long-term data from various tegoprubart studies.

Jan 8, 2026, 9:05 PM

Press Release

Eledon Pharmaceuticals Reports Preliminary Tegoprubart Data for Type 1 Diabetes

ELDN

New Projects/Investments

Eledon Pharmaceuticals announced preliminary data from six Type 1 diabetes patients treated with tegoprubart following islet transplantation at UChicago Medicine, with all subjects achieving insulin independence.
Tegoprubart was well tolerated, showing no serious infections, thromboembolic events, or kidney and neurological toxicity commonly seen with calcineurin inhibitors.
The trial has been extended to 12 subjects, and Breakthrough T1D has committed to fund a second study in T1D patients with chronic kidney disease.

Dec 31, 2025, 1:07 PM

Press Release

Eledon Reports Positive Phase 2 Tegoprubart Data and Outlines Path to Phase 3

ELDN

New Projects/Investments

Guidance Update

Eledon reported impressive Phase 2 BESTOW data for tegoprubart in kidney transplant patients, demonstrating non-inferior efficacy to tacrolimus and a superior safety profile, particularly regarding nephrotoxicity and new-onset diabetes.
The company finished the last quarter with over $93 million in cash and secured an additional $57.5 million financing last month, extending its cash runway to Q2 2027.
Eledon intends to engage with the FDA in the first half of 2026 to discuss the path to market for kidney transplantation, with plans to launch a Phase 3 study in the second half of 2026.
Tegoprubart aims to replace tacrolimus, the current standard of care in a $1.5 billion market, by addressing its significant safety issues such as nephrotoxicity, diabetes, and hypertension.

Dec 4, 2025, 1:50 PM

Transcript

Eledon Reports Positive Phase 2 Tegoprubart Data and Financial Update

ELDN

New Projects/Investments

Product Launch

Guidance Update

Eledon reported impressive Phase 2 BESTOW data for its drug tegoprubart in kidney transplant patients, demonstrating non-inferior efficacy to tacrolimus and a superior safety profile.
The company plans to engage with the FDA in the first half of 2026 to discuss the path to market for kidney transplantation, with an anticipated launch of a Phase 3 trial in the second half of 2026.
Financially, Eledon finished the last quarter (Q3 2025) with over $93 million in cash and secured an additional $57.5 million in financing in November 2025, extending its cash runway to the second quarter of 2027.
The safety profile of tegoprubart showed significant advantages over tacrolimus, with tacrolimus associated with higher rates of adverse events such as bacteremia, sepsis, hyperglycemia, seven times the rate of new-onset diabetes, hyperkalemia, tremors, and cardiovascular issues.

Dec 4, 2025, 1:50 PM

Transcript

Eledon Pharmaceuticals Presents Positive Phase 2 Tegoprubart Data and Outlines Future Plans

ELDN

Product Launch

New Projects/Investments

Guidance Update

Eledon Pharmaceuticals announced positive Phase 2 BESTOW data for tegoprubart in kidney transplant patients, demonstrating non-inferiority to tacrolimus on a composite endpoint and a superior safety profile, with tacrolimus associated with significantly higher rates of adverse events like new-onset diabetes and sepsis.
The company reported a strong financial position, ending the last quarter with over $93 million in cash and securing an additional $57.5 million in financing, extending its cash runway to the second quarter of 2027.
Eledon intends to engage with the FDA in the first half of 2026 to discuss the regulatory pathway for tegoprubart in kidney, islet cell, and xenotransplantation, with plans to initiate a Phase 3 study in kidney transplantation in the second half of 2026.
Tegoprubart targets the kidney transplantation market, where the current standard of care, tacrolimus, represents a $1.5 billion market despite its significant nephrotoxic and other adverse effects.

Dec 4, 2025, 1:50 PM

Transcript

Eledon Pharmaceuticals Announces Q3 2025 Results and Phase 3 Advancement

ELDN

Earnings

New Projects/Investments

Eledon Pharmaceuticals reported a net loss of $17.5 million, or $0.21 per basic common share, for the third quarter of 2025, compared to a net income of $77.0 million, or $1.05 per basic common share, for the comparable period in 2024.
The company announced positive results from its Phase 2 BESTOW trial for tegoprubart, demonstrating a favorable safety and tolerability profile, and plans to advance the drug into Phase 3 development for the prevention of kidney transplant rejection.
Eledon strengthened its balance sheet by completing an underwritten public offering on November 13, 2025, which generated $57.5 million in gross proceeds and $53.6 million in net proceeds.
As of September 30, 2025, cash, cash equivalents, and short-term investments totaled $93.4 million.
Key upcoming milestones for 2026 include receiving FDA guidance on the Phase 3 trial design for kidney transplantation and subsequently initiating a Phase 3 trial.

Nov 14, 2025, 10:11 PM

8-K

Eledon Pharmaceuticals Announces Public Offering of Common Stock and Pre-Funded Warrants

ELDN

New Projects/Investments

Eledon Pharmaceuticals, Inc. entered into an underwriting agreement on November 12, 2025, for a public offering of 15,152,485 shares of common stock at $1.65 per share and pre-funded warrants to purchase up to 15,151,515 shares of common stock at $1.649 per Pre-Funded Warrant.
The company also granted underwriters an option, exercisable for 30 days, to purchase up to 4,545,600 additional shares of common stock.
The offering is expected to close on or about November 13, 2025, with estimated net proceeds to the company of approximately $46.5 million, which could increase to approximately $53.6 million if the underwriters fully exercise their option.
Eledon Pharmaceuticals plans to use the net proceeds from the offering to support the continued clinical development of its product candidates, advance its pipeline programs, and for general corporate purposes.

Nov 13, 2025, 1:55 AM

8-K

Eledon Pharmaceuticals Provides Update on Tegoprubart Clinical Development and Financial Position

ELDN

New Projects/Investments

Eledon Pharmaceuticals discussed the development of tegoprubart, an anti-CD40 ligand antibody, primarily focusing on transplant indications to replace tacrolimus.
The Phase 2 BESTOW study in kidney transplant missed its primary endpoint for superiority in kidney function but achieved non-inferiority and demonstrated a significantly better safety profile compared to tacrolimus, with reduced rates of new-onset diabetes, hypertension, and neurological toxicities.
The company plans to design and launch a Phase 3 study in kidney transplant, with ongoing discussions with the FDA regarding trial design and potential co-primary endpoints.
Eledon reported $90 million in cash as of September and is in the process of closing a raise expected to extend its cash runway to Q1 2027.
Beyond kidney transplant, Eledon is also advancing islet cell and xenotransplant programs, with tegoprubart being a key component in these areas.

Nov 12, 2025, 3:30 PM

Transcript

Eledon Pharmaceuticals Prices $50 Million Public Offering

ELDN

New Projects/Investments

Eledon Pharmaceuticals announced the pricing of an underwritten public offering of 15,152,485 shares of common stock at $1.65 per share and pre-funded warrants to purchase up to 15,151,515 shares at $1.649 per pre-funded warrant.
The offering is expected to generate approximately $50 million in gross proceeds.
The net proceeds will be used to support the continued clinical development of its product candidates, advance pipeline programs, and for general corporate purposes.

Nov 12, 2025, 12:56 PM

Press Release

Eledon Pharmaceuticals Commences Underwritten Public Offering

ELDN

Eledon Pharmaceuticals, Inc. has commenced an underwritten public offering of shares of its common stock and pre-funded warrants to purchase shares of its common stock.
The company intends to use the net proceeds from the offering to support the continued clinical development of its product candidates, advance its pipeline programs, and for general corporate purposes.
Leerink Partners and Cantor are serving as joint book-running managers for the offering.
Eledon plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the total shares of common stock (and shares underlying pre-funded warrants) sold in the public offering.