Elicio's pancreatic cancer drug fails Phase 2 main test; $30.9m cash lasts to Q2 2027

Elicio Therapeutics is trying to keep its lead pancreatic cancer asset alive after the Phase 2 AMPLIFY-7P study failed on its main measure, with a balance sheet that runs only into the second quarter of 2027. The company disclosed both points on 5 November alongside its third-quarter 2026 results.

The trial tested camupepimut in patients with resected pancreatic ductal adenocarcinoma. Across all enrolled patients, it did not show a statistically meaningful benefit on disease-free survival. Elicio said its pre-specified subgroup analyses pointed to a lower risk of recurrence or death in three patient groups: those with no detectable circulating tumour DNA (ctDNA), those with detectable ctDNA, and those who had not previously had radiation. The material available did not include hazard ratios, confidence intervals or patient numbers for any group.

Elicio said these findings will guide a Phase 3 programme in the adjuvant setting, meaning treatment after surgery. It gave no detail on the trial's size, design or timing. Separately, it plans to start a Phase 1 study in the fourth quarter of 2026 combining camupepimut with daraxonrasib, with or without nivolumab.

Elicio reported $30.9m in cash and expects that to fund operations into the second quarter of 2027. Context: late-stage oncology trials typically cost far more than that, so any Phase 3 start would probably depend on new capital or a partner. The company did not say how it plans to fund the study.