Elicio Therapeutics Announces Proposed Public Offering; No Size Or Amount Disclosed

Elicio Therapeutics, Inc. (NASDAQ:ELTX, "Elicio Therapeutics" or "Elicio"))))), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, today announced that it has commenced an underwritten public offering of its shares of common stock and accompanying common warrants and, in lieu of its shares of common stock to certain investors that so choose, pre-funded warrants to purchase shares of common stock and accompanying common warrants. All of the common stock, pre-funded warrants and accompanying common warrants are being offered by Elicio. The proposed public offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

 

Elicio intends to use the net proceeds from this offering together with its existing cash, cash equivalents and marketable securities, for the advancement of its development pipeline, as well as for working capital and general corporate purposes.

Jones is acting as the sole book-running manager for the offering.