Elevation Oncology (ELEV) AI Stock Analysis

• Market Cap: $15.58M
• Dividend Yield: N/A
• Average Volume (3M): 1.78M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.75
• Revenue Growth: N/A
• EPS Growth: 47.73%
• Country: US
• Employees: 29
• Sector: Healthcare
• Sector Strength: 66
• Industry: Biotechnology
• EPS (TTM): -0.80
• Shares Outstanding: 59,215,794
• 10 Day Avg. Volume: 3,166,230
• 30 Day Avg. Volume: 1,781,430
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): -0.40
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $1.06
• Price Target Upside: 307.69% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

Elevation Oncology's stock score is primarily impacted by the lack of revenue and ongoing financial losses typical of an early-stage biotech firm. Technical indicators suggest bearish momentum, despite oversold conditions. The recent discontinuation of EO-3021 and workforce cuts underscore strategic challenges, though the focus on EO-1022 provides a potential future catalyst. The stock remains a high-risk, speculative play with significant dependency on future product development milestones.

Positive Factors

Financial Stability

The company's cash runway has been extended into the second half of 2026 due to strategic decisions, ensuring financial stability.

Market Opportunity

The HER3 target is considered de-risked, given the success of similar drugs in treating other types of cancer, presenting large market opportunities.

Strategic Shift

Management's prompt reaction to end the EO-3021 program at an early point is viewed positively.

Negative Factors

Clinical Development

Elevation Oncology, Inc. announced the discontinuation of clinical development for their lead asset, EO-3021, due to insufficient competitive benefit-risk profile based on updated trial data.

Stock Valuation

The price target for Elevation Oncology, Inc. has been lowered from $9 to $1 following the removal of all value attributed to EO-3021.

Workforce Reduction

The company is reducing its workforce by approximately 70% and is considering strategic options to maximize shareholder value.

Elevation Oncology Business Overview & Revenue Model

Company Description

Elevation Oncology (ELEV) is a clinical-stage biopharmaceutical company focused on the development of precision medicines for the treatment of cancer. The company operates in the biotechnology and pharmaceuticals sectors, with a core focus on identifying and developing therapies that target unique genetic drivers of cancer. Elevation Oncology aims to address unmet medical needs by advancing a pipeline of targeted therapies designed to improve patient outcomes in oncology.

How the Company Makes Money

Elevation Oncology makes money primarily through the development and commercialization of its proprietary cancer therapies. Its revenue model is heavily reliant on successful clinical trials and subsequent regulatory approvals, which enable the company to license or sell its drugs to healthcare providers and pharmaceutical companies. Significant partnerships with larger pharmaceutical companies and research institutions can also provide funding and resources to support its research and development efforts. Additionally, the company may earn revenue through milestone payments, royalty agreements, and collaborations with other entities in the healthcare industry, which contribute to its overall earnings.

Elevation Oncology Financial Statement Overview

Summary

Elevation Oncology displays characteristics typical of an early-stage biotech company, focusing on R&D without revenue generation yet. The income statement shows ongoing operational losses. The balance sheet indicates improved equity but still reflects past high liabilities. Cash flow is negative, relying on external financing, with a risk of continued cash burn.

Income Statement

Elevation Oncology's income statement shows a lack of revenue over the years, with consistently negative net income and EBIT margins. The absence of revenue growth is a significant challenge, and the company's profitability metrics reflect ongoing operational losses. Overall, the income statement reflects the early-stage nature of a biotech company focusing on research and development without commercialized products.

Balance Sheet

The balance sheet indicates a relatively stable cash position with no debt as of the latest year, but the company has a history of negative stockholders' equity and high liabilities in prior years. The company's equity position has improved recently, indicating better financial management. However, the lack of assets and ongoing losses remain concerns.

Cash Flow

The cash flow statement reveals negative operating and free cash flows, indicating a reliance on external financing for cash inflows. The operating cash flow to net income ratio is negative due to losses, and free cash flow growth is not viable without revenue. Continued cash burn is a risk, though recent financing activities have bolstered cash reserves.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00
	Gross Profit
0.00	-39.00K	-27.00K	-18.00K	-15.00K
	EBIT
-44.70M	-45.45M	-94.55M	-32.05M	-17.28M
	EBITDA
-44.70M	-41.47M	-94.52M	-32.03M	-17.25M
	Net Income Common Stockholders
-44.48M	-45.70M	-95.08M	-32.04M	-17.27M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
93.18M	83.11M	90.28M	146.28M	79.40M
	Total Assets
95.63M	89.09M	94.16M	149.49M	80.91M
	Total Debt
31.13M	30.14M	29.43M	0.00	0.00
	Net Debt
-18.33M	-19.12M	-16.48M	-146.28M	-79.40M
	Total Liabilities
35.60M	34.28M	45.13M	8.80M	103.99M
	Stockholders Equity
60.02M	54.81M	49.03M	140.70M	-23.08M
Cash Flow		Free Cash Flow
-36.36M	-56.18M	-85.57M	-30.17M	-12.37M
	Operating Cash Flow
-36.36M	-56.18M	-85.48M	-30.17M	-12.30M
	Investing Cash Flow
-8.37M	11.54M	-44.40M	0.00	-71.00K
	Financing Cash Flow
44.94M	47.98M	29.51M	97.05M	90.03M

Elevation Oncology Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.26
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELEV, the sentiment is Negative. The current price of 0.26 is below the 20-day moving average (MA) of 0.45, below the 50-day MA of 0.57, and below the 200-day MA of 1.05, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 22.78 is Positive, neither overbought nor oversold. The STOCH value of 11.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ELEV.

Elevation Oncology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	49 Neutral	$6.88B	0.82	-52.97%	2.48%	20.92%	1.17%
KURA	45 Neutral	$574.98M	―	-42.91%	―	―	2.90%
KRON	43 Neutral	$52.60M	―	-69.80%	―	56.62%	26.48%
ELEV	35 Underperform	$15.58M	―	-77.48%	―	―	47.73%
TNGX	35 Underperform	$177.30M	―	-57.58%	―	15.18%	-9.47%
IGMS	29 Underperform	$73.52M	―	-155.76%	―	25.77%	32.56%

Elevation Oncology Corporate Events

Elevation Oncology Restructures Amid EO-3021 Discontinuation

On March 20, 2025, Elevation Oncology announced the discontinuation of its EO-3021 development, a Claudin 18.2 ADC, due to insufficient efficacy in Phase 1 trials. The company will focus on advancing EO-1022, a HER3 ADC, and is evaluating strategic options to maximize shareholder value. As part of a corporate restructuring, Elevation Oncology is reducing its workforce by approximately 70% and expects its cash reserves to fund operations into the second half of 2026. Additionally, Chief Medical Officer Valerie M. Jansen will step down on March 31, 2025, but will continue as a consultant to assist with the transition.

Elevation Oncology Announces CSO Resignation

On January 29, 2025, Elevation Oncology announced the resignation of Chief Scientific Officer, Dr. David Dornan, effective February 17, 2025, as he pursues another opportunity. While Dr. Dornan’s departure is amicable, he will continue to aid in the transition in a consulting role, ensuring a smooth shift in responsibilities.