Eledon Pharmaceuticals Inc. Common Stock (ELDN)

FairStock Score: 64/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At the 2026-10-13 close, Eledon traded at $2.34 with a $190.2 million market cap. I look for durable earnings, honest accounting, and a margin of safety. Eledon fails most of my first tests. It is a 33-person clinical-stage biotech with no revenue in the filed periods shown, and losses in each of the last four years. In fiscal 2025, the year ended 2025-12-31, net loss was $45.6 million, wider than fiscal 2024's $36.2 million. In fiscal Q2 2026, the quarter ended 2026-06-30, net loss was $31.6 million versus $11.2 million in fiscal Q2 2025. Fiscal Q1 2026 net loss was $39.0 million. FairStock calculations show free cash flow of negative $73.9 million trailing twelve months and a negative 38.8% FCF yield. The Piotroski F-score is 1/9 and Altman Z-score is -3.24. Low debt, with D/E of 0.01, is a small comfort. FairStock also shows ROE of -110.71% and ROCE of -39.02%. FairStock's P/E of -2.60 and P/B of 2.63 at the 2026-10-13 close are not supported by profits. The 52-week range of $1.35 to $4.60 shows how speculative this equity is. The CD40L and tegoprubart story could become valuable if trials succeed, but that is a binary scientific bet, not a predictable moat. The computed Lynch category is none, because it has not earned a profit. A FairStock Score of 64/100 may reflect hope, but my Graham instincts see a financing-dependent enterprise with no margin of safety.

In plain English: Eledon is a small drug developer with 33 employees. It is testing a medicine for organ transplant rejection and ALS, but it has no reported revenue and keeps losing money. At $2.34 on 2026-10-13, the price looks speculative because there are no profits or cash flow to anchor it.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K/A (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer