IRVINE, Calif. - Eledon Pharmaceuticals, Inc. (NASDAQ: ELDN) today shared updated results from its Phase 1b trial and extension study on tegoprubart, a potential new treatment for preventing organ rejection in kidney transplant recipients. The data was presented at the American Transplant Congress in Philadelphia, showcasing the drug's safety and efficacy over current treatments.
The ongoing trial involves 13 participants and demonstrates an overall mean estimated glomerular filtration rate (eGFR) of 70.5 mL/min/1.73m² after day 30 post-transplant, surpassing the typical 50 mL/min/1.73m² eGFR reported in studies using current standard of care. Additionally, all reported time points after day 30 showed mean eGFRs above 60 mL/min/1.73m². Notably, two participants reached mean eGFRs above 90 mL/min/1.73m² at one year post-transplant.
Tegoprubart has shown a favorable safety profile, with no reported cases of hyperglycemia, new onset diabetes, or tremor, which are common side effects of standard immunosuppression therapies. However, three subjects discontinued due to side effects including hair loss, fatigue, viral infection, and one case of rejection. Importantly, there have been no graft losses or deaths in the study.
The company aims to improve upon calcineurin inhibitors, the current standard treatment, which are often associated with challenging side effects. Tegoprubart's observed clinical profile suggests it could be a next-generation immunosuppression agent for kidney transplant patients.
Eledon is conducting further trials, including a Phase 2 trial (BESTOW) and a long-term safety and efficacy extension study, with Phase 2 enrollment expected to complete by year's end.
Tegoprubart, an anti-CD40L antibody, targets the CD40 Ligand, a key player in immune cell activation, offering a non-lymphocyte depleting, immunomodulatory therapeutic approach. The company is also exploring tegoprubart's applications in xenotransplantation and amyotrophic lateral sclerosis (ALS).
InvestingPro Insights
Eledon Pharmaceuticals, Inc. (NASDAQ: ELDN) is making strides in the medical field with its innovative treatment, tegoprubart, showing promising results in the ongoing clinical trials. As investors consider the potential of Eledon in light of these developments, InvestingPro provides key insights into the company's financial health and market performance.
Despite Eledon's lack of profitability in the last twelve months, with a reported operating income of -$42.76 million USD, the company has demonstrated strong returns in the market. In particular, Eledon has seen a significant price increase over the last six months, with a 141.23% total return, and a year-to-date price total return of 52.78%. This bullish trend in the stock market reflects investor optimism, possibly fueled by the clinical progress of tegoprubart.
InvestingPro Tips highlight that Eledon holds more cash than debt on its balance sheet and has liquid assets that exceed short-term obligations. These factors suggest a stable financial position that could support the company's research and development endeavors. Additionally, the company's strong market performance over the past month, with a 14.11% price total return, may attract investors looking for growth opportunities.
For those interested in a deeper analysis, Eledon has several other InvestingPro Tips available, including insights on gross profit margins and profitability forecasts. Investors can access these additional tips by visiting https://www.investing.com/pro/ELDN and can benefit from an exclusive offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As Eledon continues its clinical trials and expands the potential applications of tegoprubart, staying informed with real-time data and expert insights from InvestingPro could be valuable for investors monitoring the company's progress.
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