While Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has gained 125.83% year-to-date, analysts continue to see 134.60% upside, helping it secure a spot on our list of the hot biotech stocks under $5 to buy.
Updated clinical data presented at a major diabetes conference added weight to the case that Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)’s lead drug could reshape how islet cell transplantation is managed in type 1 diabetes.
On June 08, 2026, Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) announced updated results from an investigator-initiated trial evaluating tegoprubart, its anti-CD40L antibody, as part of a calcineurin inhibitor-free immunosuppression regimen in patients with type 1 diabetes undergoing allogeneic islet cell transplantation at the University of Chicago Medicine Transplant Institute. The data were presented at the American Diabetes Association 86th Scientific Sessions in New Orleans.
All 12 patients treated in the study achieved insulin independence and showed rapid improvement in glycemic control following transplantation. Stable islet graft function was observed over a median follow-up of eight months and a maximum of 22 months. All patients also recorded a most recent HbA1c below the diabetic threshold of 6.5%, with a mean most recent HbA1c of approximately 5.4%. No severe hypoglycemic episodes were reported post-transplant, compared to recurrent severe events in all patients before the procedure.
Higher levels of post-transplant islet cell engraftment were observed with the tegoprubart regimen than in historical patients treated with tacrolimus at UChicago Medicine. There were no rejection episodes, and no patients developed de novo donor-specific HLA antibodies. No evidence of nephrotoxicity, hypertension, or neurotoxicity was observed, side effects commonly associated with tacrolimus.
Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) said it looks forward to working with the FDA toward regulatory guidance on a path to market for tegoprubart in islet cell transplantation later this year.
Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) is a clinical-stage biotechnology company that targets the CD40L pathway to develop ALS treatments and therapies to prevent organ transplant rejection. The company’s lead candidate, tegoprubart, is an anti-CD40L IgG1 antibody.
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