Elicio Therapeutics Q2 Results: Net Loss Beats Estimates, R&D Spending Down

Elicio Therapeutics reported a Q2 net loss per share of $0.66 (GAAP), beating estimates of $(0.69) loss (GAAP). Research and development spending (GAAP) fell from the prior year, while general administration costs increased. The company's lead pancreatic cancer vaccine trial was allowed to proceed as planned after a positive independent review. Operating spending and cash balance reflected steady management ahead of an important upcoming clinical milestone.

Elicio Therapeutics (NASDAQ:ELTX), a biotechnology company focused on immunotherapies for cancer, reported its second quarter results on August 7, 2025. The company recorded a net loss per share of $0.66 (GAAP), beating the analyst estimate of $(0.69) (GAAP) [1].

Research and development (R&D) expenses (GAAP) decreased 14.6% year-over-year, from $8.2 million to $7.0 million, while general and administrative (G&A) expenses (GAAP) rose 12.4% year-over-year, from $2.7 million to $3.1 million [1]. The company's lead pancreatic cancer vaccine trial, ELI-002 7P, was allowed to proceed as planned following a positive independent review by the Independent Data Monitoring Committee (IDMC) [2].

Elicio added $10 million in new, non-dilutive financing during the second quarter, extending its cash reserves to support operations through at least the first quarter of 2026 [1]. The company's cash balance and operating spending reflected steady management ahead of an important upcoming clinical milestone, the final analysis of the AMPLIFY-7P trial, expected in the fourth quarter of 2025 [2].

The company's operating expenses (GAAP) stood at $10.1 million for the second quarter, lower than the prior year period. The company's net loss (GAAP) widened to $10.6 million, compared to $7.2 million in the prior year period [1]. Management attributed this mainly to a routine adjustment in the value of outstanding warrants and the recognition of a grant income line.

Elicio's lead product candidate, ELI-002, is an off-the-shelf vaccine aimed at treating cancers with KRAS mutations. The company's main clinical trial, AMPLIFY-7P, is testing whether ELI-002 can improve the length of time patients remain free of cancer after initial treatment. Previous data from the AMPLIFY-201 Phase 1 trial showed a median recurrence-free survival of 16.3 months and a median overall survival of 28.9 months for patients [1].

Beyond ELI-002, Elicio is working on other preclinical candidates named ELI-007 and ELI-008, which target the BRAF and TP53 gene mutations found in other types of cancer. All these candidates use the same AMP technology, which aims to increase immune response in the lymph nodes [1].

Management stated that its current cash reserves should support operations through the first quarter of 2026. An important clinical milestone is coming up: the next analysis of the AMPLIFY-7P trial will take place in the last quarter of 2025, which could inform plans to start a pivotal Phase 3 trial. The company previously agreed with the U.S. Food and Drug Administration (FDA) on the main features of this future trial [1].

No formal guidance on future revenue or profits was provided. The primary focus remains advancing its clinical programs and preserving cash while preparing for potential regulatory discussions after the upcoming study results [1].

References:
[1] https://www.nasdaq.com/articles/elicio-eltx-q2-loss-beats-estimates
[2] https://www.biospace.com/press-releases/elicio-therapeutics-reports-second-quarter-2025-financial-results-and-provides-corporate-updates