🔴 Elicio Therapeutics is trading 5.5% down today following recent capital raises and broader biotech weakness

Elicio Therapeutics is trading 5.5% down at $3.11 amid continued choppy trading following its early-July capital raise and broader biotech sector weakness.

• Investors continue to digest the impact of the July 2 registered direct offering and the July 6 closing of a $15 million financing round.
• The stock remains under pressure as the broader biotech sector pulls back on profit-taking, adding to the current downside momentum.