Quarterly ResultAug 13, 2026, 04:18 PM
Eledon Pharma Tegoprubart Enters Phase 3 Kidney Trial; Q2 Net Loss $31.6M
AI Summary
Eledon Pharmaceuticals reported its second quarter 2026 financial results and significant business highlights. The company successfully completed an End-of-Phase 2 meeting with the FDA, paving the way for a global Phase 3 kidney transplantation trial of tegoprubart to begin in late 2026. Positive long-term Phase 2 data for tegoprubart in kidney transplantation and 100% insulin independence in islet cell transplantation were also reported. For Q2 2026, Eledon posted a net loss of $31.6 million, or $0.27 per share, and held $88.8 million in cash, cash equivalents, and short-term investments, providing runway into Q2 2027.
Key Highlights
- Successful End-of-Phase 2 FDA meeting for tegoprubart in kidney transplantation.
- Global Phase 3 kidney transplantation trial on track to initiate in late 2026.
- Phase 2 BESTOW data showed 18-month eGFR 12 mL/min/1.73 m² higher for tegoprubart (p<0.05).
- Islet cell transplantation data showed 100% insulin independence in 12 patients with T1D.
- Q2 2026 net loss was $31.6 million, or $0.27 per basic common share.
- Cash, cash equivalents, and short-term investments totaled $88.8 million as of June 30, 2026.
- Company expects current cash to fund operations into Q2 2027.
Price Impact
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