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Elicio Therapeutics, Inc. (ELTX), a clinical-stage biotech developing lymph node-targeted immunotherapies, reported a net loss of $39.6M for FY 2025 ending December 31, 2025, improved from $51.9M in FY 2024, a 23.8% reduction. No revenue was generated as the company remains pre-commercialization. Total operating expenses declined 16.2% YoY to $37.7M, driven by a 26.0% drop in R&D expenses to $24.9M (from $33.7M), reflecting patients advancing to observation in the Phase 2 AMPLIFY-7P trial of lead candidate ELI-002 7P. G&A expenses rose 13.1% to $12.8M due to headcount growth. Loss from operations narrowed to $37.7M from $45.0M. Other expense, net, improved to $1.9M loss from $6.9M, mainly from warrant liability fair value changes. Cash and equivalents stood at $18.6M, funding operations into Q3 2026. Net cash used in operations was $37.0M, offset by $36.7M from financing including $16.2M ATM equity, $9.9M promissory note, and $9.1M offering. With $1.6M stockholders' equity and going concern doubt, additional capital is critical for advancing ELI-002 7P Phase 2 readout in H1 2026 and pipeline expansion.
Net Income
-$39.6M