Over the past six months (approximately March 2026 to September 2026), several events have impacted Eledon Pharmaceuticals' stock price. In March 2026, the company reported its fourth quarter and full year 2025 operating and financial results, highlighting significant progress in advancing tegoprubart across multiple transplantation settings, and tegoprubart was granted Orphan Drug designation by the FDA for the prevention of allograft rejection in liver transplantation. In May 2026, Eledon Pharmaceuticals reported its first-quarter 2026 financial results, including a net loss of $20.1 million (excluding non-cash items related to warrant liabilities) and cash, cash equivalents, and short-term investments totaling $111.1 million; the company also announced 100% insulin independence in 10 patients with type 1 diabetes treated with tegoprubart following islet transplantation in a University of Chicago Medicine-led study. In August 2026, the company reported its second-quarter 2026 financial results, revealing a net loss of $31.63 million, a substantial increase from the comparable period in 2025, and a basic loss per share of $0.27, missing analyst estimates; Eledon also disclosed "substantial doubt as to our ability to continue as a going concern if we are unable to raise additional financing," but despite this, the company announced a successful End-of-Phase 2 meeting with the FDA, supporting the advancement of tegoprubart into a global Phase 3 kidney transplantation trial, on track to initiate in late 2026, and long-term Phase 2 BESTOW data presented at ATC 2026 demonstrated sustained higher kidney function and improved patient-reported outcomes with tegoprubart compared with tacrolimus. In September 2026, Eledon Pharmaceuticals' shares rose after its kidney treatment, tegoprubart, was granted fast-track designation by the Food and Drug Administration (FDA) for the prevention of rejections in kidney transplants; updated long-term data from a Phase 2 trial showed patients treated with tegoprubart had better kidney function and fewer transplant rejection cases, and the company also submitted an Investigational New Drug (IND) application for a company-sponsored clinical trial evaluating tegoprubart in islet cell transplantation. As of September 14, 2026, the share price was $2.77, representing a 12.60% increase over the past year, though in the past month, the stock decreased by 24.06%, and the stock's 52-week range extends from a low of $1.35 to a high of $4.60.
