Eledon Pharmaceuticals, Inc. reported its fourth quarter and full year 2024 operating and financial results on March 20, 2025. The company ended 2024 with a strong liquidity position, holding $140.2 million in cash, cash equivalents, and short-term investments as of December 31, 2024.
For the full year 2024, research and development (R&D) expenses increased to $52.0 million from $30.3 million in 2023, reflecting increased clinical development costs for kidney transplantation trials and manufacturing expenses. General and administrative (G&A) expenses also rose to $18.6 million from $12.7 million in 2023.
The net loss for the full year 2024 was $36.2 million, or $0.75 per basic share, a significant improvement from a net loss of $116.5 million, or $4.73 per basic share, in 2023. This reduction was largely due to a non-cash gain of $30.9 million from changes in the fair value of warrant liabilities in 2024, compared to a $76.2 million loss from the same in 2023. The company expects its current cash to fund operations through the end of 2026.
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