Monday, March 23, 2026
Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Tegoprubart Trials To Advance In FY2026. Eledon reported a 4Q loss of $10.4 million or $(0.11) per share and a FY2025 loss of $45.6 million or $(0.52) per share. The FY Total Operating Expenses were $83.3 million, with non-cash items (including changes in the fair value of warrant liabilities) of $33.4 million. Net Loss excluding these items would have been $79.1 million for full year. Updates for tegoprubart clinical development were also confirmed with the announcement. Cash on December 31, 2025 was $45.6 million.
Clinical Trials In Transplantation Have Several Milestones Ahead. Eledon expects to meet with the FDA to discuss plans for a Phase 3 tegoprubart trial for prevention of kidney transplant rejection. We expect the guidance to clarify required endpoints and could lead to the start of Phase 3 by year-end. Guidance is also expected for Islet cell transplantation in diabetes and xenotransplantation.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.