- Elevation Oncology ( NASDAQ: ELEV ) CEO Shawn Leland has resigned amid a company effort to realign resources and prioritize pipeline assets .
- The company is focusing its R&D efforts on EO-3021, an antibody-drug conjugate for gastrointestinal cancers. The candidate is expected to go into phase 1 in the US in 2H 2023.
- Elevation ( ELEV ) is stopping further investment in seribantumab, in phase 2 for solid tumors. The company said it would advance the monoclonal antibody only with a partner.
- Joseph Ferra, Elevation's ( ELEV ) CFO, is now also interim CEO.
- Seeking Alpha's Quant Rating views Elevation ( ELEV ) as a sell.
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Elevation Oncology CEO resigns as part of company prioritization effort