Eledon FY2025 net loss $45.6M; tegoprubart data shows insulin independence in T1D islet transplant

Eledon Pharmaceuticals, Inc.

Net loss for FY2025 was $45.6M ($0.52/share) vs $36.2M loss in FY2024; non-GAAP net loss (excl warrant gain) was $79.1M.
R&D expenses rose to $66.3M from $52.0M, driven by clinical trial expansion and manufacturing scale-up.
Phase 1b kidney transplant data: eGFR improved from 67.0 at 12mo to 74.2 at 24mo; no rejection or graft loss in 8 patients.
In T1D islet transplant study, all 10 patients >4 weeks post-transplant achieved 100% insulin independence with mean HbA1c ~5.35%.
Tegoprubart received FDA Orphan Drug designation for liver transplantation; Phase 3 kidney trial initiation pending FDA guidance.

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