Elicio Therapeutics, Inc.ELTX

Elicio Therapeutics, Inc. Earnings Per Share Disclosure

10-KFiled Mar 31, 20252 min read
Net Loss Per Share
The Company has reported losses since inception and has computed basic net loss per share attributable to common stockholders by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock and pre-funded warrants outstanding for the period, without consideration for potentially dilutive securities. The Company computes diluted net loss per share of common stock after giving consideration to all potentially dilutive shares of common stock, including options to purchase common stock and preferred stock outstanding during the period determined using the treasury-stock and if-converted methods, except where the effect of including such securities would be antidilutive. Because the Company has reported net losses since inception, these potential shares of common stock and preferred stock have been anti-dilutive and basic and diluted loss per share were the same for all periods presented.
Basic and diluted net loss per share attributable to common stockholders was calculated for the years ended December 31, 2024 and 2023 as follows (in thousands, except share and per share data):
Year Ended December 31,
20242023
Numerator:
Net loss$(51,898)$(35,195)
Denominator:
Weighted-average shares used in computing net loss per share, basic and diluted
12,202,9965,056,225
Net loss per share, basic and diluted$(4.25)$(6.96)
The table below provides potentially dilutive securities not included in the calculation of the diluted net loss per share because to do so would be anti-dilutive:
December 31,
20242023
Shares issuable upon exercise of stock options
1,890,9321,305,924
Shares issuable upon the exercise of warrants
2,448,764148,764
Unvested common stock—1,933
Total
4,339,6961,456,621

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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