Elevation Acquisition Group Inc. (ELEV)
Elevation Oncology, Inc. is a clinical-stage biopharmaceutical company operating in the United States, committed to developing targeted cancer therapies for patients with specific genetic profiles. Its leading drug candidate is seribantumab, an anti-HER3 monoclonal antibody currently being evaluated in the Phase II CRESTONE trial. This study focuses on treating advanced solid tumors that harbor a neuregulin-1 fusion. The company was established in 2019 and is headquartered in New York, New York.
Sector: Blank Checks
Industry: Biotechnology
Elevation Oncology, Inc.
NASDAQ:ELEVHealthcare · Biotechnology
Mkt Cap-
Float43.51M
O/S-
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$0
Net Income-$44.48M
Total Assets$95.63M
Free Cash Flow-$36.36M
Debt & Equity
Debt 34%
Equity 66%
Total Debt$31.13M
Total Equity$60.02M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in ELEV's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$95.63M
Liabilities$35.6M
Accounts Receivable$0
Accounts Payable$559K
Inventory$0
PP&E (Net)$34K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - | - |
| Cost of Revenue | $24K | $39K | $27K | $18K | $15K | $0 |
| Gross Profit | -$24K | -$39K | -$27K | -$18K | -$15K | $0 |
| Gross Margin | - | - | - | - | - | - |
| Research and Development | $28.6M | $25.43M | $78.72M | $23.59M | $15.48M | $5.34M |
| Selling, General, and Administrative | $16.11M | $14.9M | $15.83M | $8.45M | $1.8M | $544K |
| Other | $0 | $5.11M | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $44.7M | $45.45M | $94.55M | $32.05M | $17.28M | $5.88M |
| Operating Income (EBIT) | -$44.7M | -$45.45M | -$94.55M | -$32.05M | -$17.28M | -$5.88M |
| Operating Margin | - | - | - | - | - | - |
| Interest Expense | $4M | $4.17M | $479K | $0 | $0 | $0 |
| Interest Income | $5.2M | $3.9M | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $261K | -$229K | -$506K | $7K | $11K | $0 |
| Income Before Tax (EBT) | -$44.44M | -$45.67M | -$95.06M | -$32.04M | -$17.27M | -$5.88M |
| Income Tax Expense | $43K | $30K | $25K | $0 | $0 | $0 |
| Net Income | -$44.48M | -$45.7M | -$95.08M | -$32.04M | -$17.27M | -$5.88M |
| Net Income Margin | - | - | - | - | - | - |
| Supplementary Data | ||||||
| EPS | -0.78 | -1.34 | -4.09 | -1.38 | -0.73 | -0.25 |
| Diluted EPS | -0.78 | -1.34 | -4.09 | -1.38 | -0.73 | -0.25 |
| Weighted Average OS | 57.28M | 34.08M | 23.27M | 23.21M | 23.76M | 23.76M |
| EBITDA | -$43.22M | -$41.47M | -$94.52M | -$32.03M | -$17.25M | -$2.31M |
| EBITDA Margin | - | - | - | - | - | - |
Balance Sheet
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $49.46M | $49.26M | $45.92M | $146.28M | $79.4M | $1.74M |
| Short-Term Investments | $43.72M | $33.85M | $44.36M | $0 | $0 | $0 |
| Cash and Short-Term Investments | $93.18M | $83.11M | $90.28M | $146.28M | $79.4M | $1.74M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $1.54M | $4.86M | $2.7M | $3.14M | $0 | $0 |
| Total Current Assets | $94.73M | $87.96M | $92.98M | $149.42M | $80.79M | $1.91M |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $34K | $59K | $98K | $38K | $56K | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $59 | $98 | $38K | $56 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $866K | $1.07M | $1.09M | -$6K | $65K | $0 |
| Total Long-Term Assets | $900K | $1.13M | $1.18M | $70K | $121K | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $95.63M | $89.09M | $94.16M | $149.49M | $80.91M | $1.91M |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $559K | $507K | $6.36M | $5.65M | $5.68M | $460K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $2.27M | $2.39M | $0 | $0 | $0 | $0 |
| Total Current Liabilities | $4.47M | $4.14M | $15.69M | $8.79M | $6.79M | $597K |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $31.13M | $30.14M | $29.43M | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $2K | $8K | $15K | $0 |
| Total Long-Term Liabilities | $31.13M | $30.14M | $29.44M | $8K | $97.2M | $7.19M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $35.6M | $34.28M | $45.13M | $8.8M | $103.99M | $7.79M |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $6K | $4K | $2K | $2K | $0 | $0 |
| Retained Earnings | -$240.46M | -$195.97M | -$150.27M | -$55.19M | -$23.15M | -$5.88M |
| Comprehensive Income & Other | $61K | $9K | -$161K | -$0 | $0 | $0 |
| Other Stockholders' Equity | $300.47M | $250.78M | $199.3M | $195.88M | $66K | $9K |
| Total Equity | $60.02M | $54.81M | $49.03M | $140.7M | -$23.08M | -$5.87M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $95.63M | $89.09M | $94.16M | $149.49M | $80.91M | $1.91M |
| Supplementary Data | ||||||
| Total Debt | $31.13M | $30.14M | $29.43M | $0 | $0 | $0 |
| Net Debt | -$18.33M | -$19.12M | -$16.48M | -$146.28M | -$79.4M | -$1.74M |
Cash Flow Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | ||||||
| Net Income | -$44.48M | -$45.7M | -$95.08M | -$32.04M | -$17.27M | -$5.88M |
| Depreciation & Amortization | $24K | $39K | $27K | $18K | $15K | $3.57M |
| Deferred Income Tax | $0 | $0 | $0 | -$1.64M | $5.14M | $0 |
| Stock-Based Compensation | $4.28M | $3.33M | $3.21M | $1.57M | $52K | $14K |
| Changes in Working Capital: | ||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $52K | -$5.86M | $711K | -$30K | $5.22M | $460K |
| Other Working Capital | $3.79M | -$7.83M | $5.58M | $313K | -$319K | -$37K |
| Total Working Capital Change | $3.84M | -$13.69M | $6.29M | $283K | $4.9M | $423K |
| Other Non-Cash Items | -$22K | -$160K | $74K | $1.64M | -$5.14M | -$3.58M |
| Net Cash from Operating | -$36.36M | -$56.18M | -$85.48M | -$30.17M | -$12.3M | -$5.45M |
| Investing Activities | ||||||
| Capital Expenditures | $0 | $0 | -$86K | $0 | -$71K | $0 |
| Acquisitions | $0 | $0 | $44K | $0 | $0 | $0 |
| Purchases of Investments | -$69.56M | -$42.66M | -$112.31M | $0 | $0 | $0 |
| Sales of Investments | $61.2M | $54.2M | $68M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | -$44K | $0 | $0 | $0 |
| Net Cash from Investing | -$8.37M | $11.54M | -$44.4M | $0 | -$71K | $0 |
| Financing Activities | ||||||
| Debt Repaid | - | - | -$30M | - | - | - |
| Common Stock Issuance | $44.21M | $46.5M | $19K | $97.06M | $20K | $7.19M |
| Common Stock Repurchases | -$48K | -$24K | -$35K | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $779K | $1.5M | -$451K | -$11K | -$174K | $7.19M |
| Net Cash from Financing | $44.94M | $47.98M | $29.51M | $97.05M | $90.03M | $7.19M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $209K | $3.34M | -$100.37M | $66.88M | $77.66M | $1.74M |
| Supplementary Data | ||||||
| Operating Cash Flow | -$36.36M | -$56.18M | -$85.48M | -$30.17M | -$12.3M | -$5.45M |
| Capital Expenditure | $0 | $0 | -$86K | $0 | -$71K | $0 |
| Free Cash Flow | -$36.36M | -$56.18M | -$85.57M | -$30.17M | -$12.37M | -$5.45M |
| Cash at Beginning | $49.26M | $45.92M | $146.28M | $79.4M | $1.74M | $0 |
| Cash at End | $49.46M | $49.26M | $45.92M | $146.28M | $79.4M | $1.74M |