Eledon Posts Narrower Loss in Q2

Eledon Pharmaceuticals (NASDAQ:ELDN), a biotechnology company focused on developing novel therapies for organ and cell transplantation as well as amyotrophic lateral sclerosis (ALS), issued its second-quarter results on Aug. 14, 2025. The most notable update was a narrowed earnings loss for the quarter -- driven by a substantial gain from changes in warrant liability accounting rather than operating improvements -- and continued clinical progress for its lead drug candidate, tegoprubart. Earnings per share (EPS, GAAP) was $0.13, ahead of analyst estimates for a loss of $0.23. Net loss (GAAP) sharply improved to $11.2 million from $44.9 million a year earlier, mostly the result of non-operating items. The quarter featured major increases in research and development spending, with cash, cash equivalents, and short-term investments of $107.6 million as of June 30, 2025.

Overall, the quarter was marked by key clinical milestones, high spending, and financial results supported by accounting changes rather than operational improvement.

Source: Analyst estimates for the quarter provided by FactSet.

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