v3.25.3

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Operating expenses
Research and development	$ 14,969	$ 16,520	$ 48,776	$ 34,036
General and administrative	4,101	3,990	12,991	11,845
Total operating expenses	19,070	20,510	61,767	45,881
Loss from operations	(19,070)	(20,510)	(61,767)	(45,881)
Other income, net	1,047	1,042	3,680	2,485
Change in fair value of warrant liabilities	564	96,439	22,917	51,829
Net income (loss)	(17,459)	76,971	(35,170)	8,433
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale securities, net	57	102	(17)	102
Comprehensive income (loss)	(17,402)	77,073	(35,187)	8,535
Net income (loss) attributable to common shares - basic	$ (16,130)	$ 54,429	$ (32,492)	$ 5,551
Basic net income (loss) per common share	$ (0.21)	$ 1.05	$ (0.42)	$ 0.13
Weighted-average number of shares outstanding, basic	77,156,068	51,945,920	77,146,407	41,443,049
Net income (loss) attributable to common shares - diluted	$ (16,130)	$ (15,703)	$ (32,492)	$ (53,230)
Diluted net loss per common share	$ (0.21)	$ (0.28)	$ (0.42)	$ (1.23)
Weighted-average number of shares outstanding - diluted	77,156,068	55,478,342	77,146,407	43,106,746
Series X and Series X1 Non-voting Convertible Preferred Stock [Member]
Supplemental Income Statement Elements [Abstract]
Net income (loss) attributable to non-voting convertible preferred stock - basic	$ (1,330)	$ 6,666	$ (2,679)	$ 852
Basic net income (loss) per	$ (11.61)	$ 58.21	$ (23.4)	$ 7.44
Weighted-average shares outstanding, basic	114,508	114,508	114,508	114,508
Net loss attributable to non-voting convertible preferred stock - diluted	$ (1,330)	$ (1,801)	$ (2,679)	$ (7,856)
Diluted net loss per	$ (11.61)	$ (15.73)	$ (23.4)	$ (68.6)
Weighted-average shares outstanding, diluted	114,508	114,508	114,508	114,508

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Eledon Pharmaceuticals, Inc. 10-Q