Eledon Pharmaceuticals (ELDN) investor relations material

Company overview and business model

• Clinical-stage biotechnology company focused on immunology, developing therapies targeting the CD40 Ligand (CD40L) pathway to protect transplanted organs, prevent rejection, and treat ALS.

• Lead product candidate is tegoprubart, an anti-CD40L antibody designed for improved safety and efficacy in immune modulation.

• Business strategy centers on optimizing tegoprubart's clinical and commercial value, with a focus on organ transplantation and ALS, but further ALS development is contingent on additional funding.

• Company history includes multiple mergers and name changes, with headquarters in Irvine, California, and R&D in Massachusetts.

Financial performance and metrics

• As of December 31, 2025, historical net tangible book value was $0.65 per share, increasing to $1.26 per share after the offering, with immediate dilution to new investors of $2.38 per share at an assumed offering price of $3.64.

• 75,430,033 shares of common stock outstanding as of December 31, 2025, with up to 96,034,428 shares potentially outstanding after the offering.

Use of proceeds and capital allocation

• Net proceeds from the offering will be used for pre-commercial activities, working capital, and general corporate purposes.

• Management retains broad discretion over allocation of proceeds, with no specific uses allocated.