24/7 Market News Snapshot 13 January, 2025 – Elevation Oncology, Inc. Common stock (NASDAQ:ELEV)

January 13, 2025

DENVER, Colo., 13 January, 2025 (247marketnews.com) – (NASDAQ:ELEV) are discussed in this article.
Elevation Oncology, Inc. is currently navigating a volatile trading environment, having opened at $0.75 before experiencing a decline to approximately $0.722, reflecting an 11% drop from its previous close of $0.650. This fluctuation has been accompanied by significant trading activity, with a volume of 7.47 million shares exchanged, suggesting increased market interest. Investors are encouraged to keep an eye on key support and resistance levels, specifically the prior closing price of $0.650 and the opening price of $0.75, which may serve as indicators for potential price reversal patterns or continuation of the trend.

In parallel with its market activity, Elevation Oncology is making strides in its clinical research. The company has commenced dosing in a new cohort of its Phase 1 clinical trial for EO-3021, an innovative antibody-drug conjugate targeting Claudin 18.2, aimed primarily at patients with advanced gastric and gastroesophageal junction (GEJ) cancers. This trial is particularly noteworthy as it evaluates the efficacy of EO-3021 in combination with the PD-1 inhibitor dostarlimab and the VEGFR2 inhibitor ramucirumab.

Initial data from monotherapy trials has indicated a promising 42.8% overall response rate, highlighting EO-3021’s substantial anti-tumor activity and favorable safety profile. Joseph Ferra, President and CEO of Elevation Oncology, expressed enthusiasm about advancing this potential breakthrough treatment, emphasizing the company’s commitment to addressing the unmet needs of patients suffering from advanced gastric and GEJ cancers. Looking forward, Elevation Oncology plans to provide additional data from both monotherapy and combination cohorts in 2025, underscoring its dedication to improving cancer treatment outcomes through innovative therapeutic approaches.

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