Eledon Pharmaceuticals shares fall 9.88% premarket despite positive Phase 1b trial data for tegoprubart.

Eledon Pharmaceuticals, Inc. dropped 9.88% in premarket trading. The company presented updated data from its ongoing Phase 1b trial evaluating tegoprubart, showing positive results in kidney function and immunologic response. However, the market may have reacted negatively due to the lack of significant breakthroughs or unexpected adverse events, leading to the stock's decline.