Eledon posts Q2 net loss $7.4M; advances AT-1501 into kidney transplant, IgAN trials

Eledon Pharmaceuticals, Inc.

2022-Q2 EPS reported -$1.07

Net loss $7.4M ($0.50/share) vs $2.6M loss in Q2 2020; R&D spend rose to $4.2M from $0.8M.
Cash $101.1M as of June 30, 2021; company expects to fund operations into 2023.
Health Canada cleared clinical trial of AT-1501 for kidney transplant rejection; initiation in Q4, data late 2022.
FDA agreed on preclinical renal transplant study of AT-1501 monotherapy in 4 non-human primates; data mid-2022.
Plans to develop AT-1501 for IgA nephropathy (IgAN), Phase 2 trial expected to start in Q4 2021.

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