Eledon pairs two FDA steps for tegoprubart with cash runway to Q2 2027

Eledon Pharmaceuticals ended the third quarter of 2026 with $69.7m in cash, which it expects to cover its spending until the second quarter of 2027. The company disclosed the figure on 12 November, alongside two US regulatory developments for its lead transplant candidate, tegoprubart.

The US Food and Drug Administration has cleared an investigational new drug application for a study of tegoprubart in islet cell transplantation for type 1 diabetes. Eledon describes the study as being on a registrational path, which would make it a second potential route to approval beyond kidney transplantation. The agency has also granted Fast Track designation to the drug for preventing rejection in kidney transplant patients.

Eledon plans to begin the Phase 3 LEGACY trial in kidney transplantation in the fourth quarter of 2026. It is expected to enrol about 600 patients. The facts provided do not give a timeline for completion, a cost estimate or details of how the company intends to finance the study.

Context: Fast Track is an FDA programme for drugs aimed at serious conditions with unmet need. It is intended to speed development and review, and it allows more frequent contact with the agency. Late-stage trials of this size generally consume substantial capital, so the stated runway is a point for financing and partnering watchers to track.