secwatch.observer — SEC 8-K summary
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Issuer:     Eledon Pharmaceuticals, Inc. (ELDN)
CIK:        0001404281
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0000950170-24-125340
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eledon completes BESTOW enrollment early; reports $77M net income on non-cash gain
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- Phase 2 BESTOW trial for tegoprubart in kidney transplant hit target of 120 patients ~4 months ahead of schedule.
- First two islet transplant recipients with type 1 diabetes achieved insulin independence on tegoprubart without tacrolimus.
- Completed oversubscribed $85M offering in October; net proceeds ~$79.5M extend cash runway to end of 2026.
- Q3 2024 net income $77M ($1.05 basic EPS) includes $96.4M non-cash fair value gain; adjusted net loss $19.5M.
- Cash and short-term investments $78.2M at Sep 30, 2024; R&D expenses rose to $16.5M from $7.9M YoY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1404281/000095017024125340/0000950170-24-125340-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1404281/000095017024125340/eldn-20241112.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-125340

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer