Elevation Oncology reports Q2 EPS (18c), consensus (22c)

As of June 30, 2024, Elevation Oncology had cash, cash equivalents and marketable securities totaling $110.8M vs. $83.1M as of December 31, 2023. “Today, we announced promising initial data from our Phase 1 trial evaluating monotherapy EO-3021, which reinforce clinical proof-of-concept and support EO-3021’s potential as a best-in-class Claudin 18.2 antibody drug conjugate…,” said CEO Joseph Ferra. “These results support our broad clinical development program for EO-3021 and strengthen our conviction that EO-3021 can provide meaningful benefit to patients living with gastric or GEJ cancer. Looking ahead, we remain on track to advance into monotherapy dose expansion and initiate the combination portion of our Phase 1 trial evaluating EO-3021 by year-end, report additional monotherapy data for EO-3021 in the first half of 2025, and nominate a development candidate from our HER3-ADC program in the second half of 2024. This year has been transformative for Elevation Oncology, marked by strong execution toward our goal of bringing important treatment options to patients with significant unmet medical needs, and we are eager to continue these efforts as we advance our pipeline of differentiated ADC therapies.”