Eledon Pharmaceuticals reports Q4 EPS (68c), consensus (70c)

The Company ended the year with approximately $56.4M in cash and cash equivalents. Cash and cash equivalents will be sufficient to sustain operations into the first quarter of 2024.The Company reported a net loss of $58.4M or $4.09 per share, for the three months ended December 31 , compared to a net loss of $8.8M, or 59c per share, for the same period in 2021. The net loss for the three months ended December 31, 2022 includes a non-cash goodwill impairment charge totaling $48.6M. Excluding the non-cash impairment charge, net loss would be $9.7 million, or 68c per share. "Eledon began the year with a strategic decision to focus our financial and organizational resources on our kidney transplantation programs," said David-Alexandre C. Gros, M.D., Chief Executive Officer. "Our decision was based on the significant unmet need to improve long term graft function and survival in kidney transplant, and the substantial existing data from both our anti-CD40 Ligand and historical anti-CD40 Ligands demonstrating their potential in pre-clinical models of organ transplantation. We are highly encouraged by the initial results to date from our ongoing Phase 1b trial evaluating tegoprubart in kidney transplantation, as well as the supportive safety data from our ALS and IgAN trials, and we look forward to sharing our kidney transplant data at the World Congress of Nephrology."