Elicio Therapeutics (ELTX) AI Stock Analysis

• Market Cap: $223.70M
• Dividend Yield: N/A
• Average Volume (3M): 77.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.87
• Revenue Growth: N/A
• EPS Growth: 17.36%
• Country: US
• Employees: 32
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.45
• Shares Outstanding: 18,396,074
• 10 Day Avg. Volume: 85,490
• 30 Day Avg. Volume: 77,231
• PEG Ratio: 0.08
• Price to Book (P/B): 74.50
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.30
• Enterprise Value/Market Cap: 0.88
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -231.89
• Enterprise Value/Ebitda: -5.37
• 1Y Price Target: $17.33
• Price Target Upside: 42.52% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -1.51
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $11.00 ▼(-9.54% Downside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is primarily held down by weak financial performance (zero revenue, ongoing losses, heavy cash burn, and a leveraged/fragile balance sheet). Technicals provide partial support with price trading above key moving averages and neutral momentum, while valuation remains constrained by a negative P/E and no dividend yield.

Positive Factors

Targeted immunotherapy platform

A focused lymph-node targeted platform represents a durable scientific differentiator in immuno-oncology. Platform-level technology can be applied across multiple vaccine and combination programs, enabling partnership opportunities and de-risking the pipeline if clinical proof-of-concept is achieved.

Narrowing net losses

A sizable year-over-year reduction in net loss signals improving operational discipline and cost management. Sustained margin improvement would extend runway and lower near-term financing needs, materially reducing dilution risk and strengthening execution capacity over the next several quarters.

Lower nominal debt vs prior year

A decline in total debt versus the prior year reduces interest and refinancing pressure and modestly improves liquidity headroom. This structural improvement, if maintained, increases financial flexibility and lowers the likelihood of distressed financing during extended clinical development.

Negative Factors

Zero revenue base

The absence of commercial revenue makes the business dependent on external funding and milestone/license deals. Long-term sustainability requires clinical success to create durable revenue streams; until then the company faces elevated execution and financing risk that can erode equity value.

High cash burn

Persistent negative free cash flow at material levels shortens runway and forces periodic capital raises. Chronic burn reduces strategic optionality, increases dilution risk for shareholders, and makes the company sensitive to capital markets and partner timelines over the medium term.

Fragile capital structure

Elevated leverage against a thin and volatile equity base constrains financial flexibility and raises refinancing risk. Structural capital weakness increases cost of capital and limits ability to fund multi-year clinical programs without dilutive financings or strategic transactions.

Elicio Therapeutics Business Overview & Revenue Model

Company Description

Elicio Therapeutics, Inc., a clinical-stage biotechnology company, engages in developing a pipeline of novel immunotherapies for the treatment of cancer and other diseases. The company's lead product candidate is ELI-002, an AMP therapeutic vaccine for the treatment of KRAS-driven cancers. It is also developing ELI-004, an AMP-modified CpG adjuvant, a component of ELI-002; ELI-007, a lymph node targeted AMP-peptide vaccine for mutant BRAF-driven cancers; ELI-008, a multivalent lymph node targeted AMP-peptide vaccine for mutant TP53-expressing cancers; ELI-005, a vaccine candidate for the prevention of COVID-19; ELI-011 for the treatment of hematological cancers; and ELI-012, a mKRAS TCR T cell AMP-lifier designs to use in combination with mKRAS-targeted TCR T cell therapy against mKRAS-driven cancers. The company is headquartered in Boston, Massachusetts.

How the Company Makes Money

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Elicio Therapeutics Financial Statement Overview

Summary

Financial performance is weak: the company has persistent operating/net losses, revenue has fallen to zero from 2021 levels, and cash burn remains substantial (FCF roughly -$37M in 2025). The balance sheet is fragile with elevated leverage versus a thin equity base (debt-to-equity ~3.1x in 2025) and prior equity volatility, increasing financing and dilution risk, despite some improvement in 2025 losses versus 2024.

Income Statement

Profitability remains very weak, with persistent operating and net losses every year shown. Revenue has fallen to zero from a meaningful base in 2021, and margins are not currently supportive of a sustainable earnings profile. Losses did narrow versus 2024 (net loss improved from about $52M to about $40M in 2025), but the company is still far from breakeven and visibility is limited given the lack of revenue.

Balance Sheet

The balance sheet shows elevated leverage and thin capitalization, with debt rising in 2025 while equity remains very small (debt-to-equity around 3.1x in 2025). Equity has been volatile (including negative equity in 2024), which highlights financing risk and potential dilution risk for shareholders. A positive is that total debt is far below the 2024 level, but the overall capital structure is still fragile relative to ongoing losses.

Cash Flow

Cash burn is substantial and persistent, with operating cash flow and free cash flow deeply negative each year (roughly -$37M in 2025). Free cash flow deterioration in 2025 versus 2024 suggests funding needs may be increasing rather than stabilizing. A modest positive is that cash outflows broadly track accounting losses (free cash flow to net income near 1x), indicating losses are not being masked by large non-cash addbacks, but the absolute burn level remains a key concern.

Breakdown	Dec 2025	Mar 2025	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	28.31M
Gross Profit	-1.13M	-1.18M	-1.17M	-1.06M	27.08M
EBITDA	-36.59M	-50.27M	-32.97M	-23.55M	-51.92M
Net Income	-39.57M	-51.90M	-35.20M	-28.21M	-26.40M
Balance Sheet
Total Assets	25.86M	28.18M	27.15M	22.66M	96.51M
Cash, Cash Equivalents and Short-Term Investments	18.56M	17.62M	12.89M	7.80M	88.76M
Total Debt	14.51M	26.04M	6.92M	7.48M	4.66M
Total Liabilities	24.23M	39.49M	15.77M	13.75M	15.01M
Stockholders Equity	1.64M	-11.31M	11.37M	8.91M	81.51M
Cash Flow
Free Cash Flow	-36.97M	-37.16M	-32.76M	-22.83M	-24.46M
Operating Cash Flow	-36.95M	-37.07M	-32.69M	-22.18M	-23.94M
Investing Cash Flow	-16.00K	-84.00K	-32.00K	-654.00K	-525.36K
Financing Cash Flow	36.70M	42.32M	38.61M	21.20M	19.39M

Elicio Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELTX, the sentiment is Positive. The current price of 12.16 is above the 20-day moving average (MA) of 11.18, above the 50-day MA of 9.36, and above the 200-day MA of 9.34, indicating a bullish trend. The MACD of 0.84 indicates Positive momentum. The RSI at 58.76 is Neutral, neither overbought nor oversold. The STOCH value of 33.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ELTX.

Elicio Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CGEN	73 Outperform	$214.64M	4.04	55.68%	―	-88.47%	-1658.33%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ELTX	50 Neutral	$223.70M	-3.08	-5657.87%	―	―	17.36%
MIST	49 Neutral	$143.94M	-2.78	-2372.68%	―	―	3.70%
MCRB	43 Neutral	$83.02M	23.14	15.31%	―	448.44%	―