Why Is Cancer Vaccine Developer Elicio Therapeutics Stock Trading Lower On Friday?
Portfolio Pulse from Vandana Singh
Elicio Therapeutics Inc (NASDAQ:ELTX) released preliminary data from its AMPLIFY-7P Phase 1a study of the cancer vaccine candidate ELI-002 7P. The data showed that patients receiving the 4.9mg dose have not yet reached the median disease-free survival (DFS) endpoint. Additionally, Elicio priced a public offering of 500k shares and warrants at $5.00. ELTX shares are down 36.9% to $4.345.
June 28, 2024 | 3:41 pm
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Elicio Therapeutics released preliminary data from its AMPLIFY-7P Phase 1a study showing that patients receiving the 4.9mg dose have not yet reached the median DFS endpoint. Additionally, the company priced a public offering of 500k shares and warrants at $5.00. The stock is down 36.9%.
The preliminary data did not show a clear positive outcome, and the public offering at a lower price likely diluted existing shares, leading to a significant drop in stock price.
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