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Eledon Pharmaceuticals (ELDN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Eledon Pharmaceuticals
NasdaqCM•Healthcare•Biotechnology
$3.02+0.09(0.03%)Market closed
Market Cap
$301.12M
P/B
9.1x

Eledon Pharmaceuticals, Inc. operates as a clinical stage biotechnology company. It uses its immunology expertise in targeting the CD40 Ligand (CD40L) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS). The company's lead compound in development is tegoprubart, an IgG1 and anti-CD40L antibody with high affinity for CD40 Ligand, a biological target with therapeutic potential. It is also developing its products for the prevention of allograft rejection in kidney transplantation and xenotransplantation. The company has a collaboration agreement with eGenesis, Inc.; and a strategic collaboration with NewcelX Ltd. for the development of the NCEL-101 therapy for Type 1 Diabetes. The company was formerly known as Novus Therapeutics, Inc. and changed its name to Eledon Pharmaceuticals, Inc. in January 2021. Eledon Pharmaceuticals, Inc. is headquartered in Irvine, California.

D

How this company scores

WeakMetricSide Score: 25/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Profitability (0/25).

Profitability0/25
Growth4/25
Balance Sheet & Red Flags15/25
Cash & Earnings Quality6/25
Strengths
Interest easily coveredNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 160.0x5y range 10.7x – 160.0x
P/E 160.0x
P/B · 9.1x5y range 0.2x – 9.1x
P/B 9.1x · above its 19-quarter median

Currently above its 19-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume
Market Cap $301.12M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$0
Q. Revenue
$0
TTM EBITDA
$-51.16M
10%
TTM Op. Income
$-51.16M
10%
Q. Op. Income
$-22.87M
2Q
TTM Net Income
$-98.56M
2Q
Q. Net Income
$-31.63M
182%
EPS
$-0.27
2Q
Shares Out.
$113.63M
3Q
$0 in TTM revenue was flat at zero YoY, reaching $0 last quarter. TTM EBITDA of $-51.16M and TTM operating income of $-51.16M show growth is flowing through to the bottom line. However, net income is negative at $98.56M — growth is not yet reaching the bottom line.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
N/A
Op. Margin
-2286900000.0%
2Q
Net Margin
-3163000000.0%
182%
Op. margin of -2286900000.0% is up 186400000.0% YoY — cost efficiency is improving. Net margin at -3163000000.0% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
N/A
P/B Ratio
9.1x
2Q
P/S of 0.0x and P/B of 9.1x. Over the past year, P/E is up 0% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$126.09M
2Q
Cash
$6.80M
18%
Long-Term Debt
N/A
Book Value
$33.01M
2Q
D/E Ratio
N/A
Debt/EBITDA
N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-22.68M
2Q
TTM Free Cash Flow
$-73.86M
2Q
FCF Margin
N/A
FCF / Net Income
0.7
2Q
TTM FCF of $-73.86M on $-22.68M in operating cash flow. The FCF / Net Income ratio of 0.7x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.

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Cash Burn

Red Flag

The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Share Dilution

Red Flag

Shares outstanding increased 118.7% — significant dilution, likely from stock compensation or capital raises.