Elicio Therapeutics, Inc. announced on January 30, 2025, that it entered into definitive securities purchase agreements with institutional investors for a registered direct offering. The offering is priced at-the-market under Nasdaq rules and is expected to generate gross proceeds of $10.0 million.
The transaction involves the purchase of an aggregate of 1,261,830 shares of common stock. Additionally, accompanying warrants to purchase up to an aggregate of 1,261,830 shares of common stock were issued to the investors.
This financing is intended to strengthen the company's balance sheet and support its ongoing clinical development programs, particularly the ELI-002 pipeline. Securing capital is vital for Elicio as it continues to advance its novel immunotherapies for cancer treatment.
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