Elevation Oncology, Inc. ELEV shares soared on Monday, following the company’s announcement of program updates and upcoming 2024 milestones on Friday.
The gritty details
Elevation Oncology aims to deliver an update from its ongoing Phase 1 trial of EO-3021 in mid-2024, with additional data expected in the first half of 2025. Additionally, the company plans to expand its clinical development program to evaluate EO-3021 in combination and intends to provide more details on the program in the first half of 2024.
“Our vision is to leverage our ADC and oncology drug development expertise to deliver innovative, selective cancer therapies to millions of patients with significant unmet needs. In 2023, we made meaningful progress toward this goal, focusing our resources on advancing EO-3021, our anti-Claudin 18.2 ADC therapy,” said Joseph Ferra, CEO of Elevation Oncology.
Elevation shares traded heavily on Monday, with more than 44 million shares changing hands during the regular session. This figure exceeded the stock’s 100-day average of less than 476,000 shares traded, according to data from Benzinga Pro.
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ELEV Price Action: Elevation Oncology shares closed up 107% at $1.81, according to Benzinga Pro.
Image: Ri Butov from Pixabay
