On May 11, 2026 Elicio Therapeutics, Inc. (Nasdaq: ELTX, "Elicio" or the "Company"), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, reported financial results for the quarter ended March 31, 2026, and provided recent corporate and clinical updates. "We remain focused on advancing the Phase 2 AMPLIFY-7P trial and anticipate reaching the event-driven primary DFS analysis of ELI-002 7P in post-resection KRAS-driven PDAC mid-year 2026," said Robert Connelly, Chief Executive Officer of Elicio. "We are encouraged by the durability of T-cell responses and clinical observations to date, supporting the potential of ELI-002 7P to favorably impact outcomes as monotherapy in the adjuvant PDAC setting. With our cash runway now expected to extend into Q4 2026, beyond the anticipated DFS readout, we believe we are well positioned to execute on this key milestone and further advance our amphiphile ("AMP") platform in KRAS-mutant pancreatic cancer and other indications, with the goal of delivering meaningful long-term value for patients and shareholders."

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Updates on the AMPLIFY-7P Phase 2 Trial

The event-driven primary DFS endpoint analysis for Elicio’s randomized Phase 2 AMPLIFY-7P trial in post-resection mKRAS PDAC is anticipated mid-year 2026
Fewer disease progressions and deaths than projected to date have been observed in the ongoing 2:1 randomized Phase 2 AMPLIFY-7P trial
The Company remains blinded to the Phase 2 AMPLIFY-7P trial clinical efficacy outcomes
Following completion of the primary DFS endpoint analysis, the Company plans to request an End-of-Phase 2 meeting with the U.S. Food and Drug Administration ("FDA") to align on the Phase 3 trial design for ELI-002 7P in resected mKRAS PDAC and to advance ELI-002 7P toward initiation of a registrational study
First Quarter 2026 Financial Results

R&D expenses were $6.8 million for the three months ended March 31, 2026, compared to $7.8 million for the three months ended March 31, 2025. The decrease in R&D expenses was primarily due to lower clinical trial costs as the Phase 2 study of ELI-002 7P continues and the patients moved out of the active dosing phase and into the follow up phase of the trial.

G&A expenses were $3.8 million for the three months ended March 31, 2026, compared to $3.0 million for the three months ended March 31, 2025. The increase in G&A expenses was primarily due to increased Company headcount resulting in increased personnel costs and a slight increase in professional fees.

Net loss was $11.8 million for the three months ended March 31, 2026, compared to $11.2 million for the three months ended March 31, 2025. Net loss for the three months ended March 31, 2026 includes $1.0 million of non-cash other expense primarily resulting from the change in fair value of the warrant liability. Net loss per share for the three months ended March 31, 2026 was $0.65, compared to $0.87 for the three months ended March 31, 2025.

Cash and cash equivalents were $14.9 million as of March 31, 2026, compared to $18.6 million as of December 31, 2025.

The Company raised net proceeds of $8.0 million in Q1 2026 and an additional $5.0 million in Q2 2026 to date, for aggregate net proceeds of approximately $13.0 million, through its established at-the-market program.

The Company expects its current cash and cash equivalents to support planned operations into Q4 2026, beyond the anticipated AMPLIFY-7P Phase 2 event-driven DFS analysis expected mid-year 2026.

ELICIO THERAPEUTICS, INC.

Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share amounts)
(unaudited)

Three Months Ended March 31
2026 2025
Operating expenses:
Research and development $ 6,757 $ 7,778
General and administrative 3,845 2,958
Total operating expenses 10,602 10,736
Loss from operations (10,602 ) (10,736 )
Total other expense, net (1,221 ) (473 )
Net loss (11,823 ) (11,209 )
Other comprehensive gain:
Foreign currency translation adjustment 5 31
Comprehensive loss $ (11,818 ) $ (11,178 )
Net loss per common share, basic and diluted $ (0.65 ) $ (0.87 )
Weighted average common shares and pre-funded warrants outstanding, basic and diluted 18,211,745 12,950,574

ELICIO THERAPEUTICS, INC.

Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)

March 31, 2026 December 31, 2025
Assets
Cash and cash equivalents $ 14,948 $ 18,563
Other current assets 1,252 748
Total current assets 16,200 19,311
Other assets 6,489 6,551
Total assets $ 22,689 $ 25,862

Liabilities and stockholders’ equity (deficit)
Current liabilities $ 7,229 $ 8,110
Long-term liabilities 16,897 16,116
Total liabilities 24,126 24,226

Total stockholders’ equity (deficit) (1,437 ) 1,636

Total liabilities and stockholders’ equity (deficit) $ 22,689 $ 25,862

(Press release, Elicio Therapeutics, MAY 11, 2026, View Source [SID1234665471])