BOSTON, June 28, 2024 (GLOBE NEWSWIRE) -- Elicio Therapeutics, Inc. (NASDAQ:ELTX, "Elicio Therapeutics" or "Elicio")), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, today announced the pricing of an approximately $11.5 million underwritten public offering of its common stock (or pre-funded warrants to purchase common stock in lieu thereof), and accompanying common warrants to purchase common stock, before deducting underwriting discounts and commissions and estimated offering expenses payable by Elicio. The offering consists of (i) 500,000 shares of common stock and accompanying common warrants to purchase up to 500,000 shares of common stock at a per share exercise price of $5.00, at a combined public offering price of $5.00 per share and accompanying common warrant and (ii) to certain investors in lieu of common stock, pre-funded warrants to purchase up to 1,800,000 shares of common stock at a per share exercise price of $0.01 and accompanying common warrants to purchase up to 1,800,000 shares of common stock at a per share exercise price of $5.00, at a combined public offering price of $4.99 per pre-funded warrant and accompanying common warrant, which represents the per share combined purchase price for the common stock and accompanying common warrants less the $0.01 per share exercise price for each such pre-funded warrant. The accompanying common warrants will be immediately exercisable for shares of common stock and will expire on the five-year anniversary of the date of issuance. All of the shares of common stock, accompanying common warrants and pre-funded warrants are being offered by Elicio. The offering is expected to close on or about July 1, 2024, subject to the satisfaction of customary closing conditions. Elicio intends to use the net proceeds from this offering together with its existing cash, cash equivalents and marketable securities, for the advancement of its development pipeline, as well as for working capital and general corporate purposes. Jones is acting as the ...