Elicio Therapeutics, Inc. (ELTX), a clinical-stage biotechnology company, announced that it has entered into a definitive securities purchase agreement with two institutional investors and participation by a large existing shareholder for the purchase of 4.380 million shares.
The offering is expected to result in gross proceeds of approximately $15 million and to close on July 6, 2026.
Elicio intends to use the net proceeds primarily to fund the planned Phase 1 clinical development of ELI-002 7P in metastatic PDAC, with the remainder allocated to its pipeline, working capital, and general corporate purposes.
Titan Partners, a division of American Capital Partners, is acting as lead placement agent for the Offering.
Elicio's lead product candidate, ELI-002, is an investigational AMP cancer immunotherapy targeting cancers driven by mutations in the KRAS gene. The ELI-002 7P formulation is designed to provide immune response coverage against seven of the most common KRAS mutations, according to the company.
For the first quarter of 2026, Elicio's net loss expanded to $11.8 million from $11.2 million in the prior year.
As of March 31, 2026, cash and cash equivalents were $14.9 million and were expected to fund its operations into the fourth quarter of 2026
ELTX has traded between $2.66 and $16 over the last year. The stock closed Wednesday's trade at $5.14, up 31.46%.
In the overnight market, ELTX is down 7% at $4.78.
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