ELDN on Nasdaq
Eledon Pharmaceuticals, Inc.
Eledon is a clinical stage biotechnology company using our immunology expertise in targeting the CD40 Ligand (“CD40L”) pathway to develop therapies to protect transplanted organs and prevent.2
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Last updated Oct 19, 2026.
Overview
- TickerELDN on Nasdaq2
- IndustryPharmaceutical Preparations2
- HeadquartersIrvine, United States2
- Incorporated inDE3
- Business address19800 Macarthur Blvd., Suite 250, Irvine, Ca 926123
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCorporation2
- LEI549300S17CAM13O436062
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 37829042
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Eledon is a clinical stage biotechnology company using our immunology expertise in targeting the CD40 Ligand (“CD40L”) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (“ALS”). Our lead compound in development is tegoprubart, an IgG1, anti-CD40L antibody with high affinity for the CD40L, a well-validated biological target that we believe has broad therapeutic potential. We believe the central role of CD40L signaling in both adaptive and innate immune cell activation and function positions it as an attractive target for non-lymphocyte depleting, immunomodulatory therapeutic intervention.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.11
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Research and development | $66.3M | $52.0M |
| General and administrative | $17.0M | $18.6M |
| Total operating expenses | $83.3M | $70.6M |
| Other income, net | $4.2M | $3.9M |
| Change in fair value of warrant liabilities | $33.4M | $30.9M |
| Loss before income taxes | -$45.6M | -$35.8M |
| Provision for income taxes | -$35.0K | -$431.0K |
| Net loss | -$45.6M | -$36.2M |
| Unrealized loss on available-for-sale securities, net | -$2.0K | |
| Comprehensive loss | -$45.6M | -$36.2M |
| Basic earnings per share of common stock | -$0.52 | -$0.66 |
| Diluted earnings per share of common stock | -$0.52 | -$0.66 |
| Weighted-average common shares outstanding, basic | 81.8M shares | 48.5M shares |
| Weighted-average common shares outstanding, diluted | 81.8M shares | 48.5M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.11
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $22.8M | $20.5M | ||
| Short-term investments | $110.5M | $119.6M | ||
| Prepaid expenses and other current assets | $2.4M | $3.6M | ||
| Total current assets | $135.7M | $143.7M | ||
| Operating lease right-of-use asset, net | $613.0K | $926.0K | ||
| In-process research and development | $32.4M | $32.4M | ||
| Other assets | $322.0K | $363.0K | ||
| Total assets | $169.0M | $177.4M | ||
| Accounts payable | $3.6M | $5.8M | ||
| Current operating lease liability | $358.0K | $314.0K | ||
| Accrued expenses and other liabilities | $14.4M | $5.4M | ||
| Total current liabilities | $18.3M | $11.6M | ||
| Deferred tax liability | $2.2M | $2.2M | ||
| Non-current operating lease liability | $283.0K | $640.0K | ||
| Warrant liabilities | $11.4M | $44.9M | ||
| Total liabilities | $32.2M | $59.3M | ||
| Common stock, $0.001 par value, 300,000,000 and 200,000,000 shares authorized at December 31, 2025 and 2024, respectively; 75,430,033 and 59,789,275 shares issued and outstanding at December 31, 2025 and 2024, respectively | $75.0K | $60.0K | ||
| Additional paid-in capital | $482.2M | $417.9M | ||
| Accumulated other comprehensive income | $24.0K | $26.0K | ||
| Accumulated deficit | -$401.2M | -$355.6M | ||
| Total stockholders' equity | $81.1M | $62.4M | -$48.5M | |
| Total liabilities, convertible preferred stock and stockholders' equity | $169.0M | $177.4M | ||
| Convertible preferred stock, par value | $0.00 | |||
| Convertible preferred stock, shares authorized | 5.0M shares | |||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 300.0M shares | 200.0M shares | 200.0M shares | |
| Common stock, shares issued | 75.4M shares | 59.8M shares | ||
| Common stock, shares outstanding | 75.4M shares | 59.8M shares |
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $22.8M | $20.5M | ||
| Short-term investments | $110.5M | $119.6M | ||
| Prepaid expenses and other current assets | $2.4M | $3.6M | ||
| Total current assets | $135.7M | $143.7M | ||
| Operating lease right-of-use asset, net | $613.0K | $926.0K | ||
| In-process research and development | $32.4M | $32.4M | ||
| Other assets | $322.0K | $363.0K | ||
| Total assets | $169.0M | $177.4M | ||
| Accounts payable | $3.6M | $5.8M | ||
| Current operating lease liability | $358.0K | $314.0K | ||
| Accrued expenses and other liabilities | $14.4M | $5.4M | ||
| Total current liabilities | $18.3M | $11.6M | ||
| Deferred tax liability | $2.2M | $2.2M | ||
| Non-current operating lease liability | $283.0K | $640.0K | ||
| Warrant liabilities | $11.4M | $44.9M | ||
| Total liabilities | $32.2M | $59.3M | ||
| Common stock, $0.001 par value, 300,000,000 and 200,000,000 shares authorized at December 31, 2025 and 2024, respectively; 75,430,033 and 59,789,275 shares issued and outstanding at December 31, 2025 and 2024, respectively | $75.0K | $60.0K | ||
| Additional paid-in capital | $482.2M | $417.9M | ||
| Accumulated other comprehensive income | $24.0K | $26.0K | ||
| Accumulated deficit | -$401.2M | -$355.6M | ||
| Total stockholders' equity | $81.1M | $62.4M | -$48.5M | |
| Total liabilities, convertible preferred stock and stockholders' equity | $169.0M | $177.4M | ||
| Convertible preferred stock, par value | $0.00 | |||
| Convertible preferred stock, shares authorized | 5.0M shares | |||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 300.0M shares | 200.0M shares | 200.0M shares | |
| Common stock, shares issued | 75.4M shares | 59.8M shares | ||
| Common stock, shares outstanding | 75.4M shares | 59.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.11
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Income (Loss) | -$45.6M | -$36.2M |
| Gain on lease termination | -$10.0K | |
| Non-cash lease expense | $313.0K | $359.0K |
| Accretion of investment discounts | -$1.7M | -$2.8M |
| Stock-based compensation | $10.5M | $13.1M |
| Change in fair value of warrant liabilities | -$33.4M | -$30.9M |
| Deferred tax provision | $5.0K | $431.0K |
| Prepaid expenses and other assets | $1.2M | $1.3M |
| Accounts payable, accrued expenses and other liabilities | $6.7M | $7.8M |
| Operating lease liabilities | -$313.0K | -$339.0K |
| Net cash used in operating activities | -$62.3M | -$47.3M |
| Purchase of available-for-sale short-term investments | -$161.1M | -$156.1M |
| Proceeds from maturities of available-for-sale short-term investments | $171.9M | $85.8M |
| Net cash provided by (used in) investing activities | $10.8M | -$70.3M |
| Proceeds from issuances of common stock and pre-funded warrants, net | $53.6M | $133.3M |
| Proceeds from exercise of stock options | $230.0K | $215.0K |
| Net cash provided by financing activities | $53.8M | $133.5M |
| Net change in cash and cash equivalents | $2.3M | $15.9M |
| Unrealized gain (loss) on available-for-sale securities | -$2.0K | $26.0K |
| Common stock exchange for warrants | $4.0K | |
| Offering costs accrued but not yet paid | $4.0K | |
| Increase in operating right-of-use lease asset and liability due to new lease | $920.0K | |
| Settlement of warrant liability into common stock due to exercise | $446.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Eledon Pharmaceuticals, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerDavid-Alexandre C. Gros Sep 15, 2020 to now14
- Chief executive officerGregory J. Flesher May 11, 2017 to Mar 20, 202015
- Chief executive officerJodie Pope Morrison Sep 16, 2014 to Jan 8, 201616
- PresidentSteven Perrin Feb 2, 2022 to now17
- PresidentCatherine C. Turkel Nov 6, 2017 to Mar 20, 202018
- PresidentJodie Pope Morrison Sep 16, 2014 to Jan 8, 201616
- Chief financial officerPaul Sean Little Mar 19, 2021 to Jan 13, 202519
- Chief financial officerLee Kalowski Sep 16, 2014 to Dec 17, 201520
- Chief operating officerJohn S. McBride Sep 16, 2014 to Dec 17, 201521
Board members and other officers (27)
- OfficerBryan E. Smith Apr 20, 2021 to May 4, 202122
- OfficerSteven Perrin Sep 24, 2020 to Sep 24, 202023
- Chief Development OfficerCatherine C. Turkel May 11, 2017 to May 26, 201724
- OfficerChristine Ocampo May 11, 2017 to May 26, 201725
- OfficerJon Kuwahara Jul 10, 2017 to Sep 15, 202026
- Head Res. & Dev. & Chief Med.Karen Jean Ferrante Sep 16, 2014 to Dec 17, 201527
- Board memberAllan Kirk Oct 2, 2023 to now28
- Board memberJan Hillson Jul 9, 2021 to now29
- Board memberDavid-Alexandre C. Gros Sep 15, 2020 to now14
- Board memberSteven Perrin Sep 24, 2020 to now23
- Board memberWalter C. Ogier Sep 24, 2020 to May 2, 202330
- Board memberJune Lee Dec 14, 2020 to now31
- Board memberErez Chimovits May 11, 2017 to Feb 25, 202032
- Board memberGary A. Lyons May 11, 2017 to May 2, 202333
- Board memberGregory J. Flesher May 11, 2017 to Mar 20, 202015
- Board memberIsrael Biofund Gp Limited Partnership Orbimed May 11, 2017 to Feb 25, 202034
- Board memberKeith Katkin May 11, 2017 to now35
- Board memberJohn S. McBride Jul 5, 2017 to now36
- Board memberStephen Buckley Jr. Jan 12, 2015 to Jun 16, 201637
- Board memberCheryl Cohen Apr 13, 2015 to Jul 15, 201938
- Board memberDavid A. Kessler Sep 16, 2014 to Jun 16, 201639
- Board memberJodie Pope Morrison Sep 16, 2014 to Jul 5, 201716
- Board memberJoseph A. Yanchik Iii. Sep 16, 2014 to Jun 16, 201640
- Board memberSeth Loring Harrison Sep 16, 2014 to Jun 16, 201641
- Board memberTimothy J. Barberich Sep 16, 2014 to Jun 16, 201642
- General counselBryan E. Smith Feb 2, 2022 to Jan 13, 202543
- General counselGerald E. Quirk May 28, 2015 to Dec 17, 201544
Named in SEC Form D filings
People the company listed in its private-offering notices.
- DirectorJames Robinson named May 23, 202445
Former names
Timeline
Filings
209 filings to the SEC since October 2021: 8 annual reports, 17 quarterly reports, 47 major events, 66 insider forms, 28 large holders, 2 private raises, 41 other. The latest 20:
- Sep 4, 2026S-8 EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 13, 20268-K EDGAR
- Aug 4, 20264 EDGAR
- Aug 4, 20264 EDGAR
- Jul 31, 2026SCHEDULE 13G EDGAR
- Jun 22, 20268-K EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- May 13, 202610-Q EDGAR
- May 13, 20268-K EDGAR
- May 11, 2026EFFECT EDGAR
- May 7, 2026CORRESP EDGAR
- May 7, 2026UPLOAD EDGAR
- May 1, 2026S-3 EDGAR
- Apr 30, 2026DEFA14A EDGAR
- Apr 30, 2026ARS EDGAR
- Apr 30, 2026DEF 14A EDGAR
- Apr 27, 2026SCHEDULE 13G EDGAR
- Apr 21, 2026PRE 14A EDGAR
- Mar 26, 2026SCHEDULE 13G/A EDGAR
The 209 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 9, 2024 | BVF INC/IL10% owner | Buy | 1,927,937 | Form 4 | ||
| May 5, 2023 | Biotechnology Value Trading Fund OS LP | Buy | 1,978,932 | Form 4 | ||
| Nov 23, 2022 | Perrin StevenPresident | Buy | 1,000 | $2.60 | $2.6K | Form 4 |
| Dec 20, 2021 | Gros David-Alexandre CChief Executive Officer | Buy | 2,000 | $4.48 | $9.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Jul 31, 202646
- BIOTECHNOLOGY VALUE FUND L PSCHEDULE 13G/A, 7 filings Jan 11, 2022 to May 15, 202647
- BlackRockSCHEDULE 13G, 2 filings Jan 21, 2026 to Apr 27, 202648
- VANGUARD GROUP INCSCHEDULE 13G/A, 2 filings Jul 29, 2025 to Mar 26, 202649
- RA CAPITAL MANAGEMENT, L.P.SCHEDULE 13G/A, 2 filings Nov 5, 2024 to Feb 17, 202650
- Coastlands Capital LPSCHEDULE 13G/A, 2 filings Nov 24, 2025 to Feb 13, 202651
- ARMISTICE CAPITAL, LLCSCHEDULE 13G/A, 3 filings Feb 14, 2024 to Feb 14, 202552
- Frazier Life Sciences Public Fund, L.P.SCHEDULE 13G/A, 2 filings Nov 5, 2024 to Feb 14, 202553
- Cormorant Asset Management, LPSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202454
- Woodline Partners LPSC 13G/A, 1 filing Feb 11, 202255
- ADAGE CAPITAL PARTNERS GP, L.L.C.SC 13G/A, 1 filing Feb 10, 202256
- FMR LLCSC 13G/A, 1 filing Feb 9, 202257
- Logos Global Management LPSC 13G/A, 1 filing Jan 26, 202258
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Bvf Inc/il | 6,293,282 | $24.8M | 0.6% | No change |
| BlackRock, Inc. | 5,123,842 | $20.2M | 0.0% | +741,597 |
| Defilade Capital Management, L.P. | 3,525,338 | $13.9M | 1.9% | −38,789 |
| Vanguard Capital Management LLC | 3,417,223 | $13.5M | 0.0% | +124,089 |
| Goldman Sachs Group Inc | 2,510,308 | $9.9M | 0.0% | +2,140,218 |
| Ensign Peak Advisors, Inc | 2,101,224 | $8.3M | 0.0% | −363,695 |
| Geode Capital Management, LLC | 1,956,601 | $7.7M | 0.0% | +164,818 |
| Catalio Capital Management, LP | 1,695,071 | $6.7M | 1.3% | +55,255 |
| State Street Corp | 1,621,969 | $6.4M | 0.0% | +467,298 |
| Zimmer Partners, LP | 1,596,599 | $6.3M | 0.1% | −278,401 |
| Sphera Funds Management Ltd. | 1,191,187 | $4.7M | 0.7% | −580,944 |
| AWM Investment Company, Inc. | 1,100,000 | $4.3M | 0.4% | No change |
| UBS Group AG | 1,048,245 | $4.1M | 0.0% | +500,798 |
| Kingdon Capital Management, L.l.c. | 1,039,275 | $4.1M | 0.6% | No change |
| Millennium Management LLC | 979,712 | $3.9M | 0.0% | New |
| Bank Of America Corp /de/ | 883,097 | $3.5M | 0.0% | +13,553 |
| ADAR1 Capital Management, LLC | 647,812 | $2.6M | 0.1% | −326,609 |
| 22nw, LP | 636,364 | $2.5M | 2.4% | No change |
| Northern Trust Corp | 616,399 | $2.4M | 0.0% | +72,557 |
| Aqr Capital Management LLC | 581,028 | $2.3M | 0.0% | +408,611 |
| CM Management, LLC | 575,000 | $2.3M | 1.4% | −75,000 |
| Blue Owl Capital Holdings LP | 566,509 | $2.2M | 0.3% | −853,403 |
| Dimensional Fund Advisors LP | 538,738 | $2.1M | 0.0% | +471,657 |
| Vanguard Portfolio Management LLC | 533,365 | $2.1M | 0.0% | +103,476 |
| Vanguard Fiduciary Trust Co | 528,963 | $2.1M | 0.0% | +25,199 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARSteven Perrin, President
- 18SEC EDGARCatherine C. Turkel, President
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- 22SEC EDGARBryan E. Smith, Officer
- 23SEC EDGARSteven Perrin, Officer
- 24
- 25SEC EDGARChristine Ocampo, Officer
- 26SEC EDGARJon Kuwahara, Officer
- 27
- 28SEC EDGARAllan Kirk, Board member
- 29SEC EDGARJan Hillson, Board member
- 30SEC EDGARWalter C. Ogier, Board member
- 31SEC EDGARJune Lee, Board member
- 32SEC EDGARErez Chimovits, Board member
- 33SEC EDGARGary A. Lyons, Board member
- 34
- 35SEC EDGARKeith Katkin, Board member
- 36SEC EDGARJohn S. McBride, Board member
- 37SEC EDGARStephen Buckley Jr., Board member
- 38SEC EDGARCheryl Cohen, Board member
- 39SEC EDGARDavid A. Kessler, Board member
- 40SEC EDGARJoseph A. Yanchik Iii., Board member
- 41SEC EDGARSeth Loring Harrison, Board member
- 42SEC EDGARTimothy J. Barberich, Board member
- 43SEC EDGARBryan E. Smith, General counsel
- 44SEC EDGARGerald E. Quirk, General counsel
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