Elicio Therapeutics Inc. (NASDAQ:ELTX) stock is up on Wednesday as the company reported promising clinical observations regarding its ELI-002 7P treatment.
Durable Responses And T-Cell Activity Highlight Potential Benefit
The cancer immunotherapy company announced that three patients who received ELI-002 7P during the Phase 2 AMPLIFY-7P study achieved confirmed complete responses after subsequent treatment with Bristol-Myers Squibb & Co.’s (NYSE:BMY) Opdivo (nivolumab)-based therapy.
Two of the three patients maintained complete responses for at least eight months, with one ongoing complete response at >13 months.
In addition, all three patients demonstrated persistent mKRAS-specific T cell responses.
These results are particularly noteworthy as they suggest potential efficacy in a patient population that typically shows limited response to existing therapies.
Company Plans Combination Study In Metastatic KRAS Pancreatic Cancer
Subject to funding, Elicio plans to initiate a Phase 1 study evaluating ELI-002 7P in combination with standard gemcitabine/nab-paclitaxel chemotherapy and an anti-PD-1 inhibitor in treatment-naïve metastatic mKRAS pancreatic cancer.
The planned study is designed to prospectively evaluate the hypothesis generated by these observations and assess whether ELI-002 7P may enhance anti-tumor immunity and improve responsiveness to checkpoint inhibition.
Data May Guide Future Development Strategy
The news comes after the company released disappointing results from its Phase 2 AMPLIFY-7P study of ELI-002 7P in patients with mutant KRAS-driven pancreatic ductal adenocarcinoma (PDAC) following standard locoregional treatment.
While the trial did not achieve its pre-specified primary endpoint of disease-free survival (DFS) in the intent-to-treat population, the company pointed to early treatment benefits and subgroup findings that are shaping its planned Phase 3 program.
Elicio on Wednesday said it plans to use the study findings to evaluate checkpoint inhibitor combinations further and help inform future development strategies in metastatic PDAC and the adjuvant PDAC Phase 3 trial.
Analyst Consensus & Recent Actions:
ELTX stock carries a Buy rating with an average price target of $21.75. Recent analyst moves include:
- Jones Trading: Downgraded to Hold (June 16)
- HC Wainwright & Co.: Buy (Raises Target to $23.00) (June 15)
- B. Riley Securities: Initiated with Buy (Target $27.00) (June 10)
ELTX Price Action: Elicio Therapeutics shares were up 28.80% at $3.55 at the time of publication on Wednesday, according to Benzinga Pro data.
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