Elicio Therapeutics, Inc. (NASDAQ: ELTX) is seeing its shares edging lower 49.9 percent in pre-market trading after Phase 2 study misses endpoint.
The company announced that its Phase 2 AMPLIFY-7P study did not meet the primary endpoint. Despite this, the study showed early treatment benefits during the active ELI-002 7P treatment phase.
The company has stated that its current cash reserves are expected to sustain operations until the fourth quarter of 2026.
Elicio Therapeutics traded near $7.44 in early trading after closing the prior session at $14.85.
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