Elicio Therapeutics (ELTX) Q3 2026 earnings summary

Executive summary

• AMPLIFY-7P missed its primary intent-to-treat DFS endpoint, while subgroup and adjusted analyses showed favorable outcomes with camupepimut; findings are informing a targeted adjuvant PDAC Phase 3 strategy.

• A Phase 1 metastatic KRAS-mutated PDAC combination study is planned for Q4 2026; $30.9M in cash and cash equivalents was expected to fund operations into Q2 2027.

Financial highlights

• Q3 2026 operating expenses were $8.5M vs. $8.0M YoY; net loss was $8.0M vs. $10.1M. 9M operating expenses were $29.5M vs. $28.9M, and net loss was $28.0M vs. $31.9M.

• Q3 R&D expense was $4.9M vs. $5.0M YoY and G&A was $3.6M vs. $3.0M; 9M R&D was $18.5M vs. $19.8M and G&A was $11.0M vs. $9.0M.

• Cash and cash equivalents were $30.9M at September 30, 2026, vs. $18.6M at December 31, 2025; accumulated deficit was $261.7M.

• 9M net cash used in operations was $30.2M; net cash provided by financing was $42.3M, contributing to a $12.1M increase in cash and cash equivalents plus restricted cash.

Outlook and guidance

• Cash and cash equivalents are expected to fund planned operations into Q2 2027 under the current operating plan; estimates depend on spending and program progress.

• A Phase 1 metastatic KRAS-mutated PDAC study of camupepimut with daraxonrasib, with or without nivolumab, is targeted to start in Q4 2026; preliminary readouts are expected three to six months after study start.

• Phase 2 analyses are intended to guide patient stratification and dosing for a potential Phase 3 adjuvant PDAC study; its design remains subject to regulatory discussions, development planning and financing.

• R&D, G&A and capital expenditures are expected to rise as clinical programs advance; continued net losses and additional financing needs are anticipated.