Elicio Therapeutics assumed with a Perform at Oppenheimer

Oppenheimer assumed coverage of Elicio Therapeutics with a Perform rating and without a price target. Vaccines “aren’t exactly loved by the investment community right now,” with the space carrying some historical baggage, and some fair criticisms of early approaches as most of them simply didn’t generate robust enough immune responses to take on bulky solid tumors, and accordingly, efficacy fell short, the firm says. That’s exactly why Oppenheimer is intrigued by Elicio’s approach to therapeutic cancer vaccines. Elicio’s programs are targeted to the lymph nodes — which should drive stronger, more potent immune responses. Meanwhile, Elicio is pursuing development in the adjuvant setting, where tumor burdens are lower and vaccines should work better, the firm adds. Oppenheimer awaits future data that could derisk shares in the next 12 months.