2024-04-22 11:00:17 ET
Summary
- Elevation Oncology, Inc. has had a successful year, transitioning from the shelving of their seribantumab program to focusing on antibody-drug conjugates.
- Their flagship project, EO-3021, is a phase 1 study targeting Claudin-18.2 and has shown promising early results.
- Elevation Oncology is also exploring anti-HER3 ADCs and is close to nominating a candidate for clinical development in this area.
Topline Summary and Update
Elevation Oncology, Inc. ( ELEV ) has had a banner year so far for a small-cap biotech, coming out of a long, long holding period with the shelving of their once-promising seribantumab program and beginning different journeys in the antibody-drug conjugate space. In my first article on the company, I highlighted concerns with the very early nature of their pipeline, which remains the key challenge to the investment thesis. However, with the recent M&A madness we've seen in the first half of 2024, there is a legitimate thesis to build around the near-term prospects of this company, since biotech hype has a way of spiraling these companies upward rapidly....
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Elevation Oncology: Continuing To Seek Footing As It Climbs (Rating Upgrade)