Eledon Pharmaceuticals Q3 net loss narrows on warrant gain
ELDN•Eledon Pharmaceuticals’ third-quarter net loss narrowed, aided by a non-cash warrant liability gain, while operating expenses rose to $21.7 million. The company plans to begin a global Phase 3 kidney-transplant trial in Q4 2026 and expects cash to last into Q2 2027.
1. Quarterly results
Eledon reported a third-quarter net loss of $3.93 million, aided by a non-cash gain on warrant liabilities. Operating expenses rose year over year to $21.67 million, with increased research and development spending attributed to advancing tegoprubart trials in kidney and islet cell transplantation.
2. Clinical plans
The company said tegoprubart received FDA Fast Track designation for kidney transplantation and that its islet cell transplantation trial received investigational new drug clearance. Eledon plans to initiate a global Phase 3 kidney-transplantation trial in Q4 2026, expects to start a registrational study in islet cell transplantation, and anticipates cash runway into Q2 2027.
