--- title: "Eledon Pharmaceuticals | 10-Q: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/286350711.md" datetime: "2026-05-14T03:21:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286350711.md) - [en](https://longbridge.com/en/news/286350711.md) - [zh-HK](https://longbridge.com/zh-HK/news/286350711.md) --- # Eledon Pharmaceuticals | 10-Q: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.33. EBIT: As of FY2026 Q1, the actual value is USD -22.3 M. Eledon Pharmaceuticals, Inc. operates as a single operating and reportable segment and has not generated any revenue from product sales as it has no approved products for commercial sale . #### Operational Metrics ##### Net Loss For the three months ended March 31, 2026, the net loss was - $39,025 thousand, compared to - $6,495 thousand for the three months ended March 31, 2025, representing an increase in net loss of - $32,530 thousand . ##### Comprehensive Loss Comprehensive loss for the three months ended March 31, 2026, was - $39,121 thousand, an increase from - $6,539 thousand for the same period in 2025 . ##### Loss from Operations Loss from operations was - $21,181 thousand for the three months ended March 31, 2026, compared to - $17,964 thousand for the three months ended March 31, 2025, marking an increase in operational loss of - $3,217 thousand . ##### Total Operating Expenses Total operating expenses increased by $3,217 thousand to $21,181 thousand for the three months ended March 31, 2026, from $17,964 thousand for the corresponding period in 2025 . ##### Research and Development (R&D) Expenses R&D expenses increased by $3,666 thousand to $17,197 thousand for the three months ended March 31, 2026, from $13,531 thousand for the same period in 2025 . Expenses for Tegoprubart - kidney transplantation programs decreased by - $3,117 thousand, from $8,531 thousand in 2025 to $5,414 thousand in 2026, primarily due to lower external CRO costs related to the close-out activities of the Phase 2 BESTOW trial . Tegoprubart - other development programs expenses increased by $168 thousand, from - $168 thousand in 2025 to $0 thousand in 2026, mainly due to a credit reversal in the prior year from a terminated IgAN program . Manufacturing costs rose by $6,116 thousand, from $1,670 thousand in 2025 to $7,786 thousand in 2026, driven by increased production of drug substance and drug product clinical trial supply . Personnel-related expenses increased by $429 thousand to $2,847 thousand in 2026, from $2,418 thousand in 2025, due to increased headcount . Stock-based compensation within R&D increased by $66 thousand to $1,085 thousand in 2026, from $1,019 thousand in 2025 . ##### General and Administrative (G&A) Expenses G&A expenses decreased by - $449 thousand to $3,984 thousand for the three months ended March 31, 2026, from $4,433 thousand for the same period in 2025 . Professional services expenses increased by $304 thousand to $1,610 thousand in 2026, from $1,306 thousand in 2025, due to increased audit and legal services . Personnel-related expenses decreased by - $73 thousand to $956 thousand in 2026, from $1,029 thousand in 2025, primarily due to lower consultant expenses and travel costs . Stock-based compensation within G&A decreased by - $728 thousand to $1,117 thousand in 2026, from $1,845 thousand in 2025, due to certain equity awards becoming fully vested . ##### Other Income, Net Other income, net, decreased by - $291 thousand to $1,118 thousand for the three months ended March 31, 2026, from $1,409 thousand for the same period in 2025, primarily due to lower interest rates and average cash balances . #### Unique Metrics ##### Change in Fair Value of Warrant Liabilities For the three months ended March 31, 2026, the fair value of warrant liabilities increased by $18,962 thousand, primarily due to an increase in the company’s stock price . In contrast, for the three months ended March 31, 2025, the fair value of warrant liabilities decreased by - $10,060 thousand, mainly due to a decrease in the company’s stock price . The change in fair value of warrant liabilities resulted in a variance of - $29,022 thousand between the two periods . #### Cash Flow ##### Net Cash Used in Operating Activities Net cash used in operating activities was - $22,612 thousand for the three months ended March 31, 2026, compared to - $16,060 thousand for the same period in 2025 . ##### Net Cash Provided by Investing Activities Net cash provided by investing activities was $5,956 thousand for the three months ended March 31, 2026, consisting of $49,078 thousand from maturities of available-for-sale short-term investments, partially offset by - $43,122 thousand in purchases . For the same period in 2025, net cash provided by investing activities was $3,892 thousand . ##### Net Cash Provided by Financing Activities There were no financing activities for the three months ended March 31, 2026 . For the three months ended March 31, 2025, net cash provided by financing activities was $115 thousand from the exercise of stock options . #### Future Outlook and Strategy Eledon Pharmaceuticals, Inc. anticipates incurring significant expenses and net losses as it advances its clinical programs, particularly with tegoprubart . The company expects to require additional financing for future operations, including a potential Phase 3 clinical trial in kidney transplantation and a company-sponsored study in islet cell transplantation . While existing cash, cash equivalents, and marketable securities are projected to fund planned operations for at least the next 12 months, there is no assurance that further capital will be available on acceptable terms or at all . ### Related Stocks - [ELDN.US](https://longbridge.com/en/quote/ELDN.US.md) ## Related News & Research - [Faron Pharmaceuticals LTD: Holding(s) In Company](https://longbridge.com/en/news/286725255.md) - [Yext to Announce First Quarter Fiscal Year 2027 Financial Results on June 2, 2026 | YEXT Stock News](https://longbridge.com/en/news/286970613.md) - [LOWE'S REPORTS FIRST QUARTER 2026 SALES AND EARNINGS RESULTS | LOW Stock News](https://longbridge.com/en/news/287043063.md) - [PMV Pharmaceuticals (NASDAQ:PMVP) Will Have To Spend Its Cash Wisely](https://longbridge.com/en/news/286912396.md) - [Hansa Biopharma enters into €115 million licensing agreement with SERB Pharmaceuticals for IDEFIRIX in Europe and MENA | HNSA Stock News](https://longbridge.com/en/news/286864132.md)