koto_feja/iStock via Getty Images Elevation Oncology ( NASDAQ: ELEV ) lost ~39% premarket Tuesday after the cancer developer posted initial data from a dose escalation portion of a Phase 1 trial for its lead asset EO-3021 in certain solid tumors. Citing a June 10 data cut, the Boston, Massachusetts-based biotech said EO-3021, an antibody-drug conjugate, was well tolerated among patients. While there were no Grade 4 or 5 treatment-related adverse events, less than 10% discontinued the therapy due to adverse events.
Across all four dose levels, nausea (56%), decreased appetite (47%), and fatigue (41%) were among the most commonly found treatment-emergent adverse events. The company has selected 2.0 mg/kg and 2.
5 mg/kg Q3W doses for the dose expansion portion after four dose-limiting toxicities were found at the 2.9 mg/kg dose level. The ongoing trial involved patients with advanced solid tumors, such as gastric cancer, which are likely to express a protein called Claudin 18.
2. Elevation Oncology ( ELEV ) plans to start enrollments for the dose expansion portion and share additional data from the study in H1 2025. Concurrently, the company announced its Q2 2024 financials on Tuesday and indicated a cash runway through 2025.
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