🔴 ELTX is trading 20.6% down today following a $15 million offering and Phase 2 trial failure

ELTX is trading at $4.08 (20.55% down) in pre-market following a $15 million registered direct offering and continued fallout from disappointing clinical trial results.

• The company announced a registered direct offering to fund the development of its ELI-002 7P candidate, raising dilution concerns among investors.
• Shares remain under significant pressure after Phase 2 AMPLIFY-7P results for pancreatic cancer failed to meet the primary endpoint in mid-June.
• The stock has faced a steep collapse since late June, triggered by the trial data and subsequent investor investigations.