Elevation Oncology (ELEV) AI Stock Analysis

• Market Cap: $19.43M
• Dividend Yield: N/A
• Average Volume (3M): 1.04M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.22
• Revenue Growth: N/A
• EPS Growth: 47.73%
• Country: US
• Employees: 34
• Sector: Healthcare
• Sector Strength: 44
• Industry: Biotechnology
• EPS (TTM): -0.24
• Shares Outstanding: 59,223,730
• 10 Day Avg. Volume: 1,032,420
• 30 Day Avg. Volume: 1,037,316
• PEG Ratio: -0.37
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.72
• Enterprise Value/Market Cap: 0.10
• Enterprise Value/Revenue: 11.40
• Enterprise Value/Gross Profit: -104.41
• Enterprise Value/Ebitda: -0.01
• 1Y Price Target: $1.06
• Price Target Upside: 231.25% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 33 Underperform
• Price Target: ―

Elevation Oncology's overall stock score is low due to its lack of revenue, ongoing losses, and reliance on external financing, typical of an early-stage biotech firm. Recent corporate restructuring and product discontinuation further dampen the outlook, despite a stable cash position. The technical analysis shows a downward trend, adding to the challenges in valuation. Investors should be cautious and consider the speculative nature of this stock.

Positive Factors

Market Opportunities

The target biology of HER3 is considered de-risked due to the success of patritumab deruxtecan in breast cancer and EGFR-mutated non–small-cell lung cancer, both representing large market opportunities.

Strategic Alternatives

The company is also in the midst of a strategic review to maximize shareholder value.

Technological Advancements

EO-1022 leverages Synaffix’s technology, which is seen as an encouraging development.

Negative Factors

Financial Performance

Elevation reported a net loss of $14.2 million, or a loss of $0.24 per share, which was worse than the consensus estimate of a loss of $11.4 million, or a loss of $0.19 per share.

Funding Limitations

Elevation expects a cash position of roughly $30 million to $35 million at the end of the second quarter, indicating limited funding for operations.

Strategic Uncertainty

Management is not ready to commit to a specific direction regarding strategic alternatives, but is committed to providing updates.

Elevation Oncology Business Overview & Revenue Model

Company Description

Elevation Oncology, Inc., a clinical-stage biopharmaceutical company, focuses on developing therapeutics for the treatment of cancer in genomically defined patient populations in the United States. The company's lead program is the seribantumab, an anti-HER3 monoclonal antibody that is in Phase II CRESTONE trial for the treatment of advanced solid tumors harboring a neuregulin-1 fusion. Elevation Oncology, Inc. was incorporated in 2019 and is based in New York, New York.

How the Company Makes Money

Elevation Oncology makes money primarily through the development and commercialization of its proprietary cancer therapies. Its revenue model is heavily reliant on successful clinical trials and subsequent regulatory approvals, which enable the company to license or sell its drugs to healthcare providers and pharmaceutical companies. Significant partnerships with larger pharmaceutical companies and research institutions can also provide funding and resources to support its research and development efforts. Additionally, the company may earn revenue through milestone payments, royalty agreements, and collaborations with other entities in the healthcare industry, which contribute to its overall earnings.

Elevation Oncology Financial Statement Overview

Summary

Elevation Oncology is an early-stage biotech firm with no revenue and ongoing operational losses, reflecting its focus on R&D. While the cash position is stable, the company relies heavily on external financing due to negative cash flows. Improved equity position is a positive, but the absence of revenue generation remains a significant challenge.

Income Statement

Elevation Oncology's income statement shows a lack of revenue over the years, with consistently negative net income and EBIT margins. The absence of revenue growth is a significant challenge, and the company's profitability metrics reflect ongoing operational losses. Overall, the income statement reflects the early-stage nature of a biotech company focusing on research and development without commercialized products.

Balance Sheet

The balance sheet indicates a relatively stable cash position with no debt as of the latest year, but the company has a history of negative stockholders' equity and high liabilities in prior years. The company's equity position has improved recently, indicating better financial management. However, the lack of assets and ongoing losses remain concerns.

Cash Flow

The cash flow statement reveals negative operating and free cash flows, indicating a reliance on external financing for cash inflows. The operating cash flow to net income ratio is negative due to losses, and free cash flow growth is not viable without revenue. Continued cash burn is a risk, though recent financing activities have bolstered cash reserves.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00
	Gross Profit
0.00	-39.00K	-27.00K	-18.00K	-15.00K
	EBIT
-44.70M	-45.45M	-94.55M	-32.05M	-17.28M
	EBITDA
-44.70M	-41.47M	-94.52M	-32.03M	-17.25M
	Net Income Common Stockholders
-44.48M	-45.70M	-95.08M	-32.04M	-17.27M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
93.18M	83.11M	90.28M	146.28M	79.40M
	Total Assets
95.63M	89.09M	94.16M	149.49M	80.91M
	Total Debt
31.13M	30.14M	29.43M	0.00	0.00
	Net Debt
-18.33M	-19.12M	-16.48M	-146.28M	-79.40M
	Total Liabilities
35.60M	34.28M	45.13M	8.80M	103.99M
	Stockholders Equity
60.02M	54.81M	49.03M	140.70M	-23.08M
Cash Flow		Free Cash Flow
-36.36M	-56.18M	-85.57M	-30.17M	-12.37M
	Operating Cash Flow
-36.36M	-56.18M	-85.48M	-30.17M	-12.30M
	Investing Cash Flow
-8.37M	11.54M	-44.40M	0.00	-71.00K
	Financing Cash Flow
44.94M	47.98M	29.51M	97.05M	90.03M

Elevation Oncology Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.32
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELEV, the sentiment is Negative. The current price of 0.32 is below the 20-day moving average (MA) of 0.34, below the 50-day MA of 0.33, and below the 200-day MA of 0.55, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.49 is Neutral, neither overbought nor oversold. The STOCH value of 51.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ELEV.

Elevation Oncology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	53 Neutral	$5.24B	3.07	-43.58%	2.80%	16.87%	-0.11%
SLGL	51 Neutral	$21.72M	―	-31.35%	―	473.46%	62.25%
AKTX	44 Neutral	$37.53M	―	-197.11%	―	―	―
MEIP	41 Neutral	$14.32M	―	-89.73%	―	-100.00%	-292.59%
GOVX	34 Underperform	$15.80M	―	-616.17%	―	―	71.39%
CLRB	34 Underperform	$12.17M	―	-208.72%	―	―	56.38%
ELEV	33 Underperform	$19.43M	―	-78.32%	―	―	47.73%

Elevation Oncology Corporate Events

Elevation Oncology’s Chief Medical Officer Steps Down

On March 31, 2025, Elevation Oncology announced that Chief Medical Officer Dr. Valerie M. Jansen stepped down from her position. Dr. Jansen will receive severance benefits as per her agreement with the company, including a lump-sum payment, healthcare coverage, and accelerated vesting of equity awards. This transition is part of a separation agreement that includes standard legal provisions, potentially impacting the company’s operational dynamics and stakeholder relations.

Elevation Oncology Restructures Amid EO-3021 Discontinuation

On March 20, 2025, Elevation Oncology announced the discontinuation of its EO-3021 development, a Claudin 18.2 ADC, due to insufficient efficacy in Phase 1 trials. The company will focus on advancing EO-1022, a HER3 ADC, and is evaluating strategic options to maximize shareholder value. As part of a corporate restructuring, Elevation Oncology is reducing its workforce by approximately 70% and expects its cash reserves to fund operations into the second half of 2026. Additionally, Chief Medical Officer Valerie M. Jansen will step down on March 31, 2025, but will continue as a consultant to assist with the transition.