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In a recent filing with the U.S. Securities and Exchange Commission, Elicio Therapeutics , Inc. reported the outcomes of its annual stockholders meeting held on May 19, 2025. The Boston-based pharmaceutical company, trading under (NASDAQ:ELTX) with a market capitalization of $93 million, disclosed the voting results on two key proposals outlined in the proxy statement filed on April 9, 2025. According to InvestingPro data, while the company maintains a healthy balance sheet with more cash than debt, it faces challenges with rapid cash burn.
The first proposal involved the election of two directors, Karen Wilson and Robert R. Ruffolo, Jr., Ph.D., FCPP, to serve three-year terms on the Board of Directors. Karen Wilson received 8,588,077 votes for, 420,412 against, and 9,321 abstentions. Robert Ruffolo, Jr. garnered 8,980,091 votes for, 28,388 against, and 9,331 abstentions. Both nominees were elected with a significant majority, and there were 2,154,961 broker non-votes for each candidate.
The second proposal was to ratify the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal received overwhelming support, with 11,133,552 votes for, 29,923 against, and 9,296 abstentions.
The filing confirmed that each proposal was adopted as set forth in the proxy statement, with the necessary majority of votes received from stockholders. The total number of shares voted represented 70.1% of the voting power, establishing a quorum for the meeting.
The information for this article is based on a press release statement from Elicio Therapeutics, Inc.
In other recent news, Elicio Therapeutics announced the appointment of Preetam Shah, Ph.D., MBA, as its new Chief Strategy and Financial Officer. This executive change comes as the company is conducting an interim analysis for its Phase 2 AMPLIFY-7P study of ELI-002, an immunotherapy candidate for treating mKRAS-positive pancreatic cancer. Dr. Shah’s extensive experience in biotechnology finance and strategy is expected to support Elicio’s financial and corporate strategy as it progresses through clinical development. The company’s President and CEO, Robert Connelly, Ph.D., expressed confidence in Dr. Shah’s ability to contribute to the company’s goals, highlighting the potential of ELI-002 and their proprietary Amphiphile platform. Before joining Elicio, Dr. Shah held significant roles at Cidara Therapeutics (NASDAQ:CDTX) and Brainstorm Cell Therapeutics (NASDAQ:BCLI), bringing a wealth of experience to his new position. Elicio’s ELI-002 is a novel AMP (OTC:AMLTF) cancer vaccine targeting KRAS mutations, present in about 25% of all solid tumors. The company’s proprietary AMP technology aims to enhance immune responses by delivering therapeutics directly to the lymph nodes. These developments reflect Elicio’s ongoing efforts to advance its pipeline of cancer vaccines and bring innovative treatments to market.
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