BOSTON - Elicio Therapeutics, Inc. (NASDAQ:ELTX), a biotechnology firm focused on cancer immunotherapies, revealed preliminary data from its AMPLIFY-7P Phase 1a study involving its cancer vaccine candidate ELI-002 7P, which has not yet reached the median disease-free survival (DFS) endpoint. The study targets patients with mKRAS-driven solid tumors.
The data, based on a May 24, 2024 cutoff, indicated that the 14 patients with minimal residual disease who received the Phase 2 dose of 4.9mg AMP-peptide in the trial had a median follow-up of 29.1 weeks for the DFS endpoint. Those administered the 4.9mg dose had not reached the median DFS, compared to 12.6 weeks for the group receiving a 1.4mg dose.
Moreover, patients who showed a reduction in tumor biomarker levels after treatment with ELI-002 7P experienced no progression events. A similar outcome was observed in patients with above-median T cell responses to the vaccine.
Christopher Haqq, M.D., Ph.D., Executive Vice President, Head of Research and Development, and Chief Medical Officer at Elicio, commented on the early findings, stating that the correlation between strong T cell responses and reductions in tumor biomarker levels suggests a reduced risk of progression or death. These results echo those from the AMPLIFY-2P trial published in Nature Medicine.
ELI-002 is an investigational Amphiphile (AMP (OTC:AMLTF)) cancer vaccine targeting mutations in the mKRAS-gene, which is implicated in numerous cancers. The 7-peptide formulation of ELI-002 aims to cover seven common KRAS mutations found in 25% of all solid tumors, potentially broadening its applicability.
Elicio Therapeutics is advancing a pipeline of lymph node-targeted immunotherapies to enhance the immune system's ability to fight cancer. The company plans to provide further clinical data updates from the AMPLIFY Phase 1 trials later in 2024, with a randomized Phase 2 interim analysis expected in the first quarter of 2025.
The information reported is based on a press release statement from Elicio Therapeutics. The company's forward-looking statements are subject to various risks and uncertainties, and actual results may differ materially from those projected. Elicio does not undertake any obligation to update forward-looking statements after the date of the press release.
InvestingPro Insights
Amidst the promising preliminary data from its AMPLIFY-7P Phase 1a study, Elicio Therapeutics, Inc. (NASDAQ:ELTX) faces significant financial challenges. With a market capitalization of just $66.05 million, the company's financial health is under scrutiny.
InvestingPro data reveals a troubling P/E ratio of -1.78 for the last twelve months as of Q1 2024, underscoring that the company is not currently profitable. Furthermore, the Price / Book ratio stands at a high 14.43, suggesting that the stock may be overvalued relative to the company's book value.
InvestingPro Tips highlight that Elicio Therapeutics is quickly burning through cash and suffers from weak gross profit margins. Analysts are not optimistic about the company's profitability in the near term, as they do not expect it to be profitable this year. Moreover, the stock has experienced a significant downturn over the last month, with a 23.42% drop in price total return.
However, it is not all grim for Elicio Therapeutics. The company's liquid assets do exceed its short-term obligations, indicating some resilience in meeting its immediate financial liabilities. Moreover, Elicio operates with a moderate level of debt, which could provide some flexibility in managing its financial obligations.
Investors interested in a deeper dive into Elicio Therapeutics can explore additional InvestingPro Tips, with PRONEWS24 offering an extra 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 9 additional tips available on InvestingPro, providing a comprehensive analysis of the company's financial status and stock performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.