Elevation Oncology Announces Discontinuation of EO-3021 Development and Updates on EO-1022
Elevation Oncology, a pioneering oncology company, recently announced some significant developments in its pipeline. The company revealed that it has decided to discontinue the development of EO-3021, an antibody-drug conjugate (ADC) targeting Claudin 18.2 for advanced, unresectable or metastatic gastric and gastroesophageal junction (GEJ) cancers.
Reason for Discontinuation of EO-3021
The decision to discontinue EO-3021 development was based on updated clinical data. These data demonstrated an objective response rate (ORR) of only 22.2% in a biomarker-enriched patient population. Given the results, Elevation Oncology has determined that further development of EO-3021 would not be in the best interest of its shareholders.
EO-1022: A Potentially Differentiated HER3 ADC
Despite this setback, Elevation Oncology remains committed to advancing its pipeline. The company is focusing on its other ADC, EO-1022, which utilizes an MMAE payload and glycan site-specific conjugation. EO-1022 is being developed for the treatment of various solid tumors. The company plans to present preclinical data for EO-1022 at the American Association for Cancer Research (AACR) Annual Meeting 2025 and file an Investigational New Drug (IND) application in 2026.
Workforce Reduction and Cash Runway Extension
In addition to these pipeline updates, Elevation Oncology also announced a workforce reduction of approximately 70 employees. This reduction is expected to extend the company’s cash runway into the second half of 2026.
Impact on Patients and the Oncology Community
For patients with advanced gastric and GEJ cancers, the discontinuation of EO-3021 development may mean that they will need to explore alternative treatment options. The oncology community will continue to monitor developments in the treatment landscape for these patients. Elevation Oncology’s focus on EO-1022 provides some hope for potential new therapies in the future.
Impact on Elevation Oncology and the Biotech Industry
The discontinuation of EO-3021 development may impact Elevation Oncology’s financial performance and investor sentiment. However, the company’s commitment to advancing EO-1022 and its potential to deliver new therapies to patients underscores the dynamic and innovative nature of the biotech industry. Setbacks are a part of the drug development process, and companies must be willing to adapt and pivot when necessary.
Conclusion
Elevation Oncology’s decision to discontinue development of EO-3021 is a reminder that drug development is a complex and often unpredictable process. The company’s commitment to its pipeline, particularly EO-1022, highlights its dedication to delivering new therapies to patients with significant unmet medical needs. As the biotech industry continues to evolve, companies will need to be agile and resilient in the face of setbacks, while maintaining a focus on innovation and patient care.
- Elevation Oncology discontinues development of EO-3021, a Claudin 18.2 ADC
- Company focuses on EO-1022, a potentially differentiated HER3 ADC
- EO-1022 to be presented at AACR Annual Meeting 2025 and IND filing planned for 2026
- Approximately 70 employees to be let go; cash runway extended into 2H 2026
- Impact on patients, oncology community, and Elevation Oncology
