Eledon Pharmaceuticals, Inc. (NASDAQ: ELDN), a company specializing in pharmaceutical preparations, announced the appointment of Deloitte & Touche LLP ('"Deloitte") as its new independent registered public accounting firm for the fiscal year ending December 31, 2025, and for related interim periods. This change comes after the dismissal of the previous auditor, Crowe LLP ('"Crowe"), effective April 1, 2025.

The company’s Audit Committee, which oversees the accounting and financial reporting processes, approved the transition. According to Eledon Pharmaceuticals, the decision to dismiss Crowe was not due to any disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedures that would have warranted a mention in Crowe’s reports for the fiscal years ended December 31, 2024, and December 31, 2023. The company’s financial health score is rated as 'FAIR' by InvestingPro, with notably strong cash flow management metrics. Additionally, there were no 'reportable events' as defined by the SEC regulations.

The audit reports from Crowe for the past two fiscal years did not contain any adverse opinions or disclaimers and were not modified concerning uncertainties, audit scope, or accounting principles. In compliance with SEC regulations, Eledon Pharmaceuticals provided Crowe with a copy of the 8-K form prior to filing with the SEC and requested that Crowe furnish a letter to the SEC stating their agreement with the company’s statements. This letter, dated today, has been filed as an exhibit to the 8-K report.

During the two most recent fiscal years and the subsequent interim period through April 1, 2025, Eledon Pharmaceuticals did not consult Deloitte on any matters that would have impacted their decision on accounting, auditing, or financial reporting issues. There were no disagreements or reportable events involving Deloitte during this time.
The appointment of Deloitte aligns with Eledon Pharmaceuticals’ commitment to maintaining the highest standards of financial reporting and auditing practices. The company, headquartered in Irvine, California, continues to focus on the development of pharmaceutical preparations under its new auditor’s oversight. Recent market performance shows the stock has experienced significant volatility, with a 16.5% decline over the past week, though maintaining a positive 64.5% return over the last year. For deeper insights into ELDN’s financial health and exclusive analysis, investors can access additional ProTips and detailed metrics through InvestingPro.
This announcement is based on a press release statement filed with the SEC.
In other recent news, Eledon Pharmaceuticals announced the successful use of its investigational drug, tegoprubart, in a groundbreaking kidney transplant from a genetically modified pig to a human patient. The procedure was performed at Massachusetts General Hospital in collaboration with eGenesis. This marks a significant advancement in the field of xenotransplantation, which aims to tackle the global organ shortage. The patient, previously reliant on dialysis for over two years, has now been discharged and is living without the need for dialysis. Eledon Pharmaceuticals plans to release updated interim clinical trial results from its ongoing Phase 1b and long-term safety and efficacy extension studies in kidney transplant later this summer. Additionally, topline results from its Phase 2 BESTOW kidney transplant trial are anticipated in the fourth quarter of 2025. This development follows the FDA’s approval in December 2024 for Massachusetts General Hospital to conduct such transplants. Two more xenotransplants are scheduled for later this year.

Eledon Pharmaceuticals appoints Deloitte as new auditor

Eledon Pharmaceuticals, Inc. (NASDAQ: ELDN) announced the appointment of Deloitte & Touche LLP as its new independent registered public accounting firm, effective April 1, 2025. The change comes after the dismissal of Crowe LLP, effective April 1, 2025. Eledon's financial health is rated 'FAIR' by InvestingPro, with strong cash flow management. The company's stock has experienced significant volatility, declining 16.5% over the past week but maintaining a positive 64.5% return over the last year. Eledon also announced successful xenotransplantation using tegoprubart, an investigational drug, with a kidney transplant from a genetically modified pig to a human patient. The patient has been discharged and no longer needs dialysis. Eledon plans to release updated clinical trial results later this year.