Eledon Pharmaceuticals just announced the results of their study where 100% of patients achieved insulin independence (all 12 patients) that had type 1 diabetes. They have a market capitalization of $275 million so there is a ton of room to grow or even become an acquisition target by a larger company looking to replenish its revenues. Apparently there are over 2.1 million people with diagnosed type 1 diabetes in the US alone so this could be a massive opportunity. Seems like the market isn’t giving it the recognition it deserves as it will probably need a bigger clinical trial. I think this should revive the same standing ovation as the pancreatic cancer drug did if the larger trial comes back with the same results.
Link is below with the press release
https://ca.finance.yahoo.com/news/eledon-announces-updated-data-investigator-110000620.html
