What is the projected cash runway given the current cash balance and anticipated R&D expenses for the next 12‑18 months?
Answer
The press release you referenced (Elicio Therapeutics – Second Quarter 2025 Financial Results) does not disclose the company’s current cash balance or the projected R&D spend for the next 12‑18 months. Consequently, a precise cash‑runway calculation cannot be derived from the information provided in that release.
How a cash‑runway projection is normally calculated
If the necessary figures were available, the runway would be estimated as follows:
| Step | What you need to know | How it’s used |
|---|---|---|
| 1. Current cash balance | Total cash and cash equivalents on the balance sheet at the end of the reporting period. | This is the “fuel” you have on hand. |
| 2. Anticipated cash outflows | Expected cash‑consumption items for the next 12‑18 months, primarily: • R&D expenses (clinical trial costs, pre‑clinical work, staff, CRO fees, etc.) • SG&A expenses (selling, general & administrative costs) • Capital expenditures (if any) |
Sum these to get the total cash required for the period. |
| 3. Runway formula | Runway (months) = Current cash balance ÷ (Average monthly cash outflows) | For a 12‑month horizon, divide the cash balance by the projected 12‑month cash burn; for a 18‑month horizon, use the 18‑month cash burn. |
Example (hypothetical numbers)
- Current cash: $150 million
- Anticipated R&D spend (12 months): $80 million
- Anticipated SG&A (12 months): $30 million
Total 12‑month cash outflow = $110 million → Runway ≈ 150 / 110 ≈ 1.36 years (≈ 16 months).
If the company expects a higher R&D spend (e.g., $120 million) over 18 months, the cash burn would be larger and the runway proportionally shorter.
What to do next
Locate the full earnings release – The complete SEC filing (e.g., Form 10‑Q) or the full press release typically includes a “Liquidity and Capital Resources” section that lists:
- Cash on hand at the end of the quarter.
- Expected R&D and SG&A expenditures for the next 12‑18 months.
- Cash on hand at the end of the quarter.
Extract the figures – Identify the cash balance and the projected R&D expense line (often broken out by “clinical‑trial spend” and “pre‑clinical spend”).
Apply the runway formula – Use the method outlined above to compute the number of months the cash will sustain operations.
Bottom line
Based solely on the excerpt you provided (which only mentions the IDMC’s recommendation for the ELI‑002 7P Phase 2 pancreatic‑cancer study), there is insufficient data to answer the cash‑runway question. You’ll need to consult the full earnings release or the company’s latest SEC filing to obtain the cash balance and the R&D expense outlook, then apply the standard runway calculation. If you can share those numbers, I’d be happy to run the numbers for you.