Elicio Therapeutics Reports $11.2 Million Net Loss in Q1 2025, Seeks Additional Financing

Elicio Therapeutics, Inc. reported a net loss of $11.2 million for the first quarter of 2025, a slight improvement from the $11.8 million loss recorded in the same period of the previous year. The company's total operating expenses increased to $10.7 million, up from $10.2 million year-over-year, primarily driven by a 3% rise in research and development costs, which reached $7.8 million. General and administrative expenses also saw a 10% increase, totaling $3.0 million, attributed to higher professional fees related to recent financing activities.

As of March 31, 2025, Elicio's cash and cash equivalents stood at $18.4 million, compared to $17.6 million at the end of 2024. The company has an accumulated deficit of $205.3 million, raising concerns about its ability to continue as a going concern. Elicio anticipates that its current cash position will fund operations into the fourth quarter of 2025, but it will require additional financing to support ongoing development efforts. The company plans to explore various funding avenues, including public offerings and partnerships, although it acknowledges the uncertainty surrounding these efforts.

In terms of operational developments, Elicio is advancing its lead product candidate, ELI-002, which is currently in a Phase 2 clinical trial targeting KRAS mutations in cancer patients. The trial is expected to reach a disease-free survival event-driven interim analysis in the third quarter of 2025. The company is also developing additional candidates, ELI-007 and ELI-008, which are in preclinical stages. Elicio's workforce has expanded, with a total of 2,265,453 stock options outstanding as of the end of the reporting period, reflecting its commitment to building a robust team to support its clinical and operational goals.

Elicio's financial position remains precarious, with significant reliance on external funding to sustain its operations. The company has indicated that it may need to scale back operations or liquidate assets if it cannot secure the necessary capital. The management has expressed confidence in its ability to navigate these challenges, but the future remains uncertain, particularly in light of ongoing market conditions and the competitive landscape in the biotechnology sector.