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. has recently garnered attention as its stock, which opened at $0.75, has seen a substantial decline of 12.55% to trade around $0.732. Following a previous session close of $0.650, this volatility highlights a potential resistance at the opening price, while the previous closing price might serve as a crucial support level. The trading volume of 6.59 million shares signals heightened investor interest, indicating possible future market movements. As technical indicators are monitored closely, they are expected to provide insight into the stock’s short-term trajectory and any signs of recovery.

In parallel, the company has embarked on a pivotal Phase 1 clinical trial assessing the Claudin 18.2 antibody-drug conjugate (ADC), EO-3021, in combination with leading therapies for patients suffering from advanced gastric and gastroesophageal junction (GEJ) cancer. Joseph Ferra, President and CEO of Elevation Oncology, expressed optimism regarding EO-3021’s potential, emphasizing the importance of its promising anti-tumor activity and favorable safety profile. The trial seeks to redefine treatment standards and address significant unmet needs in oncology.

Data from the combination cohorts are expected to emerge by the fourth quarter of 2025 or early 2026, with the study evaluating EO-3021 alongside dostarlimab in the first-line setting and ramucirumab in the second-line setting. Additionally, the company plans to share monotherapy data from ongoing studies in the first half of 2025. Looking ahead, Elevation Oncology will also unveil preclinical data for EO-1022, a HER3 ADC, further enriching its innovative pipeline focused on critical oncology markets. With its commitment to advancing patient care, the company is positioning itself for transformative breakthroughs in cancer treatment.

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