Elevation Oncology’s personalised treatment plans for cancer ⚕️

My dear friends and fellow speculators, I must say I'm rather excited about this one…  *Lights a cigar* Possibly over excited… But do let us get into it ei? I present to you ELEV. [source: Elevation Oncology’s website] Who is ELEV? ELEV is the ticker symbol for Elevation Oncology, Inc. A clinical-stage biotechnology company based in the big apple (New York) in the US of A. They specialise in personalised treatment plans for each individual cancer patient through genomic testing. The testing identifies which cancer patients would be more likely to respond well to a determined therapy. Why ELEV? As you may expect if you have read any other of my post, I came across it while screening and might I say it is right up my street. A micro-cap (~$53.5M) clinical-stage biotech company [source: Finviz] Not too many shares outstanding (~12M) and a small float to boot (~7.5M). [source: Finviz] Their recent volume is higher than normal (~1.75x higher). [source: Finviz] It has a high price target (which honestly is completely irrelevant but I thought I would say it). Their website is superb 👌 with a slight caveat that the pipeline is hard to find and ascertaining what they actually do can seem a little tricky. This can be rather off putting to the herd that has an attention span of a few seconds… They also have not underestimated the power of social media and their accounts/pages are pretty nifty too and a good source of information. What makes me slightly more excited than usual is their cash on hand, but more on that later (retention and what not). I must point out though that simple maths gives us a different view on the matter:  12.13M shares * $2.39 gives us a market cap of ~$29M. TradingView shows that there are 23.206M shares outstanding which would bring us up to a market cap of ~$55.5M. Stocktwits on the other hand gives a market cap of ~65.7M. Make of it what you will, you can always raid the SEC filings and sum up the amount of shares. As I mentioned on the website, allow me to sidetrack you for mere moments… [source: Me…] Seriously, see for yourself. Let us move on! The Pipeline The pipeline is a little bit of a let down touting just one round in the chamber. I’m going to hope that they are just supremely confident in what they are doing. So their main focus is on Seribantumab as you can see below. [Source: Elevation Oncology’s website] Seribantumab  So what is Seribantumab? It is a fully human monoclonal antibody designed for the treatment of cancer. The drug was originally developed by Sanofi/Merrimack Pharmaceuticals, Inc. Merrimack discontinued their phase II study and shelved the drug back in 2018. [source: National cancer institute] [source: Wikipedia] [source: Merrimack press release] You can sift through the data on 14 different studies conducted on Seribantumab here. Their phase II study for Seribantumab is being carried out in partnership with Caris Life Sciences. The study was given the name CRESTONE and even has its own website. Not quite as nifty as Elevation Oncology’s website but I'd give it a solid 7/10 for navigability! [source: Me…] Sorry I couldn’t help myself… Initial clinical data from cohort 1 of the phase II CRESTONE study is expected in mid 2022. [source: PR Newswire] [source: ASCO Journal] The social scope Another case of a biotech under the radar, be that for the right or wrong reasons. Stocktwits shows only 107 watchers on the board with a low message volume if we discount the bots. [source: Stocktwits] My rudimentary Twitter sniffer only found 34 recent posts containing the string “$ELEV”. 10 of which were  deemed positive, 12 negative and 12 neutral. So we are net negative on the twitter side of the board. However as a monkey I must point out that my natural language processing skills may very well be lacking. [source: Me…] A scootch around Reddit turned up… Well… Nothing. Only a few posts in IPO subreddits. [source: Reddit] The chart Initial hype seemed to be high and some investors may have netted up to 50% gains in the first couple of weeks of trading after its IPO in June 2021. However, $ELEV followed the usual clinical-stage biotech company downfall dropping a whopping -85% from its $16.22 high to its current price of $2.39. For whatever it may be worth the MACD is side scrolling and the RSI shows it is heavily oversold. I know many an ape likes squiggly colored lines  [source: TradingView] Into the SEC On to the United States securities and exchange commission. Lets dive into the company's SEC filings and scan over their financials! Straight into the 10-K and down to the financials we can see they have cash. In Fact they have $146M in cash and cash equivalents. Yes this is what tickled my fancy $55M market cap with $146M in cash and equivalents. The total operating costs for 2021 was ~$32M so they have enough cash to carry them through roughly 4 years of operation.  [source: SEC 10-K filing] This is obviously a gross simplification of financial matters but do feel free to read through the 10-K to get a better picture of their financial structure. Magnus’s opinion I find that the cash ($146M) vs valuation (55M) is rocket fuel for “the herd”. Also presenting itself as an “undiscovered gem” may contribute to a good ol’ pop. Small-ish float so shares can be hoovered up quickly. Very little volume at the moment though so be cautious and don-t get stuck. With great volume comes great possibilities. They have good social media skills and their website is gorgeous. Being that this will be about as much DD as the masses ever do it can and most times is quite important for fueling said pop. RSI in the low lows lends a little more to the “undiscovered gem” ideology even though I loath technical analysis many do not. News about their phase II study (which they seem to be taking very seriously) should come to light within the following months and as any biotech investor knows: news + biotech = insane short term gains. Here is a pretty chart full of colored lines and speculation for you. [source: TradingView] As always when you make it, take it and run… - Magnus Chimpski Videos Youtube: Spotlight on data: Seribantumab in preclinical NRG1 fusion models Youtube: Genomically-Guided Medicine With Elevation Oncology's Shawn Leland, PharmD, RPh Youtube: The CRESTONE study with Dr. Johanna Bendell, Sarah Cannon Research Institute Youtube: Caris Life Sciences® Partners with Elevation Oncology to Advance Clinical Trial Enrollment Disclaimer: This is not financial advice. It is an opinion. Magnus is not a financial advisor. Magnus is infact a fictitious smooth brained simian of the interwebs, to take advice from an internet monkey would be insane. - End of transmission

back

Elevation Oncology’s personalised treatment plans for cancer ⚕️

bullish

My dear friends and fellow speculators, I must say I'm rather excited about this one…

*Lights a cigar*

Possibly over excited… But do let us get into it ei? I present to you ELEV.

[source: Elevation Oncology's website]

Who is ELEV?

ELEV is the ticker symbol for Elevation Oncology, Inc. A clinical-stage biotechnology company based in the big apple (New York) in the US of A.

They specialise in personalised treatment plans for each individual cancer patient through genomic testing. The testing identifies which cancer patients would be more likely to respond well to a determined therapy.

Why ELEV?

  • As you may expect if you have read any other of my post, I came across it while screening and might I say it is right up my street.
  • A micro-cap (~$53.5M) clinical-stage biotech company
    [source: Finviz]
  • Not too many shares outstanding (~12M) and a small float to boot (~7.5M).
    [source: Finviz]
  • Their recent volume is higher than normal (~1.75x higher).
    [source: Finviz]
  • It has a high price target (which honestly is completely irrelevant but I thought I would say it).
  • Their website is superb 👌 with a slight caveat that the pipeline is hard to find and ascertaining what they actually do can seem a little tricky. This can be rather off putting to the herd that has an attention span of a few seconds…
  • They also have not underestimated the power of social media and their accounts/pages are pretty nifty too and a good source of information.
  • What makes me slightly more excited than usual is their cash on hand, but more on that later (retention and what not).

I must point out though that simple maths gives us a different view on the matter:

12.13M shares * $2.39 gives us a market cap of ~$29M.

TradingView shows that there are 23.206M shares outstanding which would bring us up to a market cap of ~$55.5M.

Stocktwits on the other hand gives a market cap of ~65.7M.

Make of it what you will, you can always raid the SEC filings and sum up the amount of shares.

As I mentioned on the website, allow me to sidetrack you for mere moments…

[source: Me…]

Seriously, see for yourself. Let us move on!

The Pipeline

The pipeline is a little bit of a let down touting just one round in the chamber. I'm going to hope that they are just supremely confident in what they are doing.

So their main focus is on Seribantumab as you can see below.

[Source: Elevation Oncology's website]

Seribantumab

So what is Seribantumab? It is a fully human monoclonal antibody designed for the treatment of cancer. The drug was originally developed by Sanofi/Merrimack Pharmaceuticals, Inc. Merrimack discontinued their phase II study and shelved the drug back in 2018.
[source: National cancer institute]
[source: Wikipedia]
[source: Merrimack press release]

You can sift through the data on 14 different studies conducted on Seribantumab here.

Their phase II study for Seribantumab is being carried out in partnership with Caris Life Sciences. The study was given the name CRESTONE and even has its own website. Not quite as nifty as Elevation Oncology's website but I'd give it a solid 7/10 for navigability!

[source: Me…]

Sorry I couldn't help myself…

Initial clinical data from cohort 1 of the phase II CRESTONE study is expected in mid 2022.
[source: PR Newswire]
[source: ASCO Journal]

The social scope

Another case of a biotech under the radar, be that for the right or wrong reasons.

Stocktwits shows only 107 watchers on the board with a low message volume if we discount the bots.

[source: Stocktwits]

My rudimentary Twitter sniffer only found 34 recent posts containing the string “$ELEV”. 10 of which were deemed positive, 12 negative and 12 neutral. So we are net negative on the twitter side of the board. However as a monkey I must point out that my natural language processing skills may very well be lacking.

[source: Me…]

A scootch around Reddit turned up… Well… Nothing. Only a few posts in IPO subreddits.

[source: Reddit]

The chart

Initial hype seemed to be high and some investors may have netted up to 50% gains in the first couple of weeks of trading after its IPO in June 2021.

However, $ELEV followed the usual clinical-stage biotech company downfall dropping a whopping -85% from its $16.22 high to its current price of $2.39.

For whatever it may be worth the MACD is side scrolling and the RSI shows it is heavily oversold. I know many an ape likes squiggly colored lines

[source: TradingView]

Into the SEC

On to the United States securities and exchange commission. Lets dive into the company's SEC filings and scan over their financials!

Straight into the 10-K and down to the financials we can see they have cash. In Fact they have $146M in cash and cash equivalents. Yes this is what tickled my fancy $55M market cap with $146M in cash and equivalents.

The total operating costs for 2021 was ~$32M so they have enough cash to carry them through roughly 4 years of operation.

[source: SEC 10-K filing]

This is obviously a gross simplification of financial matters but do feel free to read through the 10-K to get a better picture of their financial structure.

Magnus's opinion

I find that the cash ($146M) vs valuation (55M) is rocket fuel for “the herd”. Also presenting itself as an “undiscovered gem” may contribute to a good ol' pop.

Small-ish float so shares can be hoovered up quickly. Very little volume at the moment though so be cautious and don-t get stuck. With great volume comes great possibilities.

They have good social media skills and their website is gorgeous. Being that this will be about as much DD as the masses ever do it can and most times is quite important for fueling said pop.

RSI in the low lows lends a little more to the “undiscovered gem” ideology even though I loath technical analysis many do not.

News about their phase II study (which they seem to be taking very seriously) should come to light within the following months and as any biotech investor knows: news + biotech = insane short term gains.

Here is a pretty chart full of colored lines and speculation for you.

[source: TradingView]

As always when you make it, take it and run…

- Magnus Chimpski




Videos

Youtube: Spotlight on data: Seribantumab in preclinical NRG1 fusion models

Youtube: Genomically-Guided Medicine With Elevation Oncology's Shawn Leland, PharmD, RPh

Youtube: The CRESTONE study with Dr. Johanna Bendell, Sarah Cannon Research Institute

Youtube: Caris Life Sciences® Partners with Elevation Oncology to Advance Clinical Trial Enrollment

Disclaimer: This is not financial advice. It is an opinion. Magnus is not a financial advisor.
Magnus is infact a fictitious smooth brained simian of the interwebs, to take advice from an internet monkey would be insane.

- End of transmission

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