Elevation Oncology (ELEV) H.C. Wainwright 26th Annual Global Investment Conference 2024 summary

Strategic focus and pipeline development

• Emphasizes a differentiated oncology pipeline using antibody-drug conjugates (ADCs) and monoclonal antibodies for selective cancer therapies.

• EO-3021 targets Claudin 18.2, chosen for its potential to improve standard of care in solid tumors.

• ADC technology advancements, including site-specific conjugation, are leveraged to enhance efficacy and safety.

• HER3 ADC program is advancing, with a development candidate to be named by year-end and IND-enabling studies to follow.

• Not committed to a single technology, allowing flexibility in tailoring ADCs to specific targets.

Clinical milestones and study design

• EO-3021 is in phase 1, with dose escalation and expansion portions underway in gastric and GEJ cancers.

• Initial data show a 43% overall response rate in Claudin 18.2-enriched populations, with prospective biomarker-based patient selection implemented.

• Expansion portion focuses on two doses (2 and 2.5 mg/kg), with next data readout expected in the first half of 2025.

• Combination studies with ramucirumab and dostarlimab are planned, targeting second- and first-line gastric GEJ cancer, respectively.

• Prospective testing for Claudin 18.2 expression is being used to optimize patient selection in ongoing trials.

Differentiation and safety profile

• EO-3021 demonstrates a differentiated safety profile, with minimal MMAE-associated toxicities and no peripheral neuropathy or neutropenia observed.

• Site-specific conjugation contributes to a more stable ADC and improved tolerability, supporting broader combination strategies.

• Pre-treatment with antiemetics has reduced on-target, off-tumor toxicities such as nausea and vomiting.

• Safety and efficacy profile positions EO-3021 as a potentially best-in-class Claudin 18.2 ADC.

• Other Claudin 18.2 ADCs face more significant toxicity challenges, potentially limiting their clinical utility.