Elicio Therapeutics, Inc.

Listed Company

ELTXCIK 0001601485NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-39.57M

Total Assets

—

Equity

—

Shares Out

19.09M

Op. Cash Flow

$-36.95M

Business

Elicio Therapeutics, Inc. is a clinical-stage biotechnology company developing lymph-node–targeted immunotherapies using its proprietary Amphiphile (AMP) technology to generate anti-tumor T cell responses. Its main offerings are AMP cancer vaccines and adjuvants, led by ELI-002 (mutant KRAS) and preclinical programs ELI-007 (BRAF) and ELI-008 (TP53). Key business functions comprise clinical development and trials, preclinical research, intellectual property licensing, and collaborations to advance AMP applications including immune cell therapies. Elicio distributes through clinical trial networks, outsources manufacturing to contract organizations, and pursues patent protection and partner-led commercialization.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	25	34	24	18	49
General and administrative	13	11	12	6	18
Total operating expenses	38	45	36	24	68
Loss from operations	−38	−45	−36	−24	−39
Change in fair value of warrant liabilities	−2	−4	−2,000	0	−3
Loss on issuance of pre-funded warrants	0	−4	0	—	—
Gain on sale of equipment	0	3,000	0	—	—
Foreign exchange transaction gain	0	151,000	204,000	0	−245,000
Grant income	400,000	0	—	—	—
Interest income	776,000	777,000	373,000	—	—
Interest expense	−1	−455,000	−1	—	—
Total other expense, net	−2	−7	550,000	−4	−15
Provision for income taxes	0	0	0	—	—
Net loss	−40	−52	−35	−28	−55
Foreign currency translation adjustment	48,000	22,000	−197,000	0	230,000
Comprehensive loss	−40	−52	−35	−28	−54
Net loss per common share, basic (in dollars per share)	−2.58	−4.25	−6.96	−89.27	−1.93
Net loss per common share, diluted (in dollars per share)	−2.58	−4.25	−6.96	−89.27	−1.93
Weighted average common shares outstanding, basic (in shares)	15	12	5	315,998	28
Weighted average common shares outstanding, diluted (in shares)	15	12	5	315,998	28

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	19	18	13	6	89
Restricted cash, current	0	1	722,000	2	—
Prepaid expenses and other current assets	748,000	2	3	3	2
Total current assets	19	21	16	11	91
Property and equipment, net	295,000	483,000	717,000	1	451,000
Operating lease, right-of-use assets	5	6	7	7	4
Restricted cash, noncurrent	704,000	696,000	685,000	617,000	—
Other long-term prepaid assets	800,000	600,000	3	3	—
Total assets	26	28	27	23	97
Accounts payable	672,000	1	4	3	5
Accrued expenses	6	8	4	2	3
Deferred research obligation	0	1	694,000	1	2
Operating lease liability, current	1	901,000	910,000	692,000	894,000
Total current liabilities	8	12	10	7	11
Warrant liabilities	3	3	11,000	—	—
Operating lease liability, noncurrent	4	5	6	7	3
Long-term debt, net	9	20	—	—	0
Total liabilities	24	39	16	14	15
Commitments and contingenciesNote 9	—	—	—	—	—
Preferred stock, $0.01 par value; 10,000,000 shares authorized; no shares issued and outstanding	0	0	0	—	—
Common stock, $0.01 par value; 300,000,000 shares authorized; 17,814,762 and 11,043,837 shares issued at December 31, 2025 and 2024, respectively; 17,800,307 and 11,029,382 shares outstanding as of December 31, 2025 and 2024, respectively	178,000	110,000	96,000	3,000	300,000
Treasury stock, at cost, 14,455 shares outstanding	−150,000	−150,000	−150,000	0	—
Additional paid-in capital	235	183	154	5	296
Accumulated other comprehensive loss	−127,000	−175,000	−197,000	0	−103,000
Accumulated deficit	−234	−194	−142	−107	−215
Total stockholders' equity (deficit)	2	−11	11	−102	−75
Total liabilities, convertible preferred stock, and stockholders equity (deficit)	26	28	27	23	97

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	200,000	300,000	400,000	400,000	100,000
Amortization of right-of-use assets, operating leases	924,000	857,000	788,000	667,000	710,000
Amortization of debt discount	217,000	75,000	0	—	—
Non-cash interest expense	107,000	232,000	1	4	—
Costs expensed upon the issuance of warrants	0	549,000	0	—	—
Stock-based compensation	3	1	1	579,000	12
Gain on disposal of property and equipment	0	−3,000	105,000	4,000	—
Prepaid expenses and other current assets	1	835,000	−729,000	−2	4
Other long-term prepaid assets	−170,000	2	0	114,000	−106,000
Accounts payable	−366,000	−3	23,000	1	−866,000
Accrued expenses	−2	5	—	−646,000	11,000
Deferred research obligation	−1	475,000	−742,000	1	−28
Operating lease liability	−901,000	−911,000	−825,000	−535,000	−713,000
Net cash used in operating activities	−37	−37	−33	−22	−53
Purchases of property and equipment	−16,000	−87,000	−66,000	−654,000	−382,000
Proceeds from sale of property and equipment	0	3,000	34,000	0	—
Net cash used in investing activities	−16,000	−84,000	−32,000	−654,000	−382,000
Proceeds from the exercise of common stock warrants	1	0	—	0	861,000
Proceeds from June 2025 Promissory Note, net of issuance costs	10	0	10	0	0
Proceeds from issuance of common stock warrants from March 2024 Offering	0	6	0	—	—
Proceeds from issuance of common stock warrants from July 2024 Public Offering	0	11	0	—	—
Proceeds from issuance of common stock from at-the-market offerings, net of issuance costs.	16	5	7	—	107
Proceeds from issuance of common stock from July 2024 Public Offering	0	1	0	—	—
Payment of warrant issuance costs	0	−549,000	0	—	—
Proceeds from issuance of Convertible Note, net of issuance costs	0	20	0	—	—
Proceeds from issuance of common stock and common warrants from January 2025 Offering	9	0	—	—	—
Proceeds from exercise of stock options	149,000	39,000	127,000	82,000	980,000
Net cash provided by financing activities	37	42	39	21	107
Effect of foreign currency on cash	48,000	22,000	0	0	3,000
Net (decrease) increase in cash, cash equivalents and restricted cash	−225,000	5	6	−2	54
Fair value of pre-funded warrants at issuance date	0	13	0	—	—
Fair value of common warrants at issuance date	0	7	0	—	—
Fair value of common warrants upon settlement	2	0	—	—	—
Accretion of promissory note to face value	0	26,000	130,000	0	—
Fair value of common warrants issued with January 2025 Offering	10	0	—	—	—
Fair value of common warrants issued with June 2025 Promissory Note	641,000	0	—	—	—
Non-cash vesting of restricted common stock	0	25,000	67,000	13,000	—
Conversion of related-party senior note and interest into common stock	20	0	111	0	—

Filings

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