What's Going On With Elevation Oncology Stock?

Elevation Oncology, Inc. ELEV shares raced higher Monday. The company announced program updates and upcoming 2024 milestones on Friday. Here's a look at what's going on.

The Details:

Elevation Oncology said that it plans to provide an update from its ongoing Phase 1 trial of EO-3021 in mid-2024, with additional data expected in the first half of 2025.

The company also plans to expand its clinical development program to evaluate EO-3021 in combination and will provide more details on the program in the first half of 2024.

"Our vision is to leverage our ADC and oncology drug development expertise to deliver innovative, selective cancer therapies to millions of patients with significant unmet needs. In 2023, we made meaningful progress toward this goal, focusing our resources on advancing EO-3021, our anti-Claudin 18.2 ADC therapy," said Joseph Ferra, CEO of Elevation Oncology.

Elevation shares moved on heavy trading volume Monday with more than 44 million shares traded during the regular session. According to data from Benzinga Pro, Monday's volume far exceeded the stock's 100-day average of less than 476,000 shares traded.

Related News: What's Going On With BioCryst Pharmaceuticals Stock?

ELEV Price Action: According to Benzinga Pro, Elevation Oncology shares closed up 107% at $1.81.

Image: Ri Butov from Pixabay