Elevation Oncology, Inc.: restructuring charge — Elevation Oncology halts EO-3021, lays off 70%, initiates strategic review

Elevation Oncology, Inc.

Discontinued lead ADC EO-3021 after Phase 1 data showed 22.2% ORR and 72.2% DCR in biomarker-enriched gastric/GEJ cancer patients.
Reducing workforce by ~70%; estimated $3M in cash costs, majority paid by June 2025. CMO Valerie Jansen departs March 31.
Advancing EO-1022 (HER3 ADC) with glycan site-specific conjugation; IND filing targeted 2026, preclinical data at AACR 2025.
Cash, cash equivalents and securities of $93.2M at Dec 31, 2024 fund operations into 2H 2026.
Evaluating strategic options to maximize shareholder value in parallel with EO-1022 development.

item 2.05 item 5.02 item 9.01

Executive movements

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Departed

Valerie M. Jansen

Chief Medical Officer

Elevation Oncology, Inc.

Effective: 2025-03-31
Filed: March 20, 2025, 7:59 PM ET

On March 20, 2025, the Company and Valerie M. Jansen, Chief Medical Officer of the Company, agreed that Dr. Jansen would step down as Chief Medical Officer effective March 31, 2025

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Valerie M. Jansen departed as Chief Medical Officer at Elevation Oncology, Inc..

Action: stepped down
Role: Chief Medical Officer

Exact text from the filing

On March 20, 2025, the Company and Valerie M. Jansen, Chief Medical Officer of the Company, agreed that Dr. Jansen would step down as Chief Medical Officer effective March 31, 2025

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Elevation Oncology, Inc. announced a restructuring with charges of approximately $3 million affecting entire company (approximately 70%).

Type: restructuring
Charge: approximately $3 million
Affected area: entire company
Headcount: approximately 70%

Exact text from the filing

The total cash payments and costs related to this reduction in force are estimated to be approximately $3 million

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Source: SEC EDGAR

accession 0001104659-25-025878

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