---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-116154"
form_type: "8-K"
ticker: "ELDN"
cik: "0001404281"
company_name: "Eledon Pharmaceuticals, Inc."
filed_at: "2026-03-19T23:59:59+00:00"
generated_at: "2026-05-15T09:37:00.135956+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-116154
- form_type: 8-K
- ticker: ELDN
- cik: 0001404281
- company_name: Eledon Pharmaceuticals, Inc.
- filed_at: 2026-03-19T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1404281/000119312526116154/0001193125-26-116154-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1404281/000119312526116154/eldn-20260319.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-116154
- JSON: https://secwatch.observer/filing/0001193125-26-116154.json
- Plain text: https://secwatch.observer/filing/0001193125-26-116154.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.