NATURE OF BUSINESS	12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
NATURE OF BUSINESS	1. NATURE OF BUSINESS Elevation Oncology, Inc. (the “Company”), which was formerly known as 14ner Oncology, Inc., was incorporated under the laws of the State of Delaware on April 29, 2019 (“Inception”). The Company is an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The Company is leveraging its antibody-drug conjugate (“ADC”) expertise to advance a novel pipeline, initially targeting two validated targets in oncology, Claudin 18.2 and HER3. The Company’s lead product candidate, EO-3021, is an ADC comprised of a fully human anti-Claudin 18.2 immunoglobulin G1 monoclonal antibody (“mAb”) site-specifically conjugated with a cleavable linker to the cytotoxic monomethyl auristatin E (“MMAE”) payload. EO-3021 is currently being evaluated in a Phase 1 clinical trial as a monotherapy and in combinations with dostarlimab, a PD-1 inhibitor, and ramucirumab, a VEGFR2 inhibitor, in patients with advanced, unresectable or metastatic gastric/gastroesophageal junction solid tumors. The Company’s second product candidate, EO-1022, is a potentially differentiated HER3 ADC being developed for the treatment of patients with HER3-expressing solid tumors, including breast cancer, non-small cell lung cancer and other solid tumors. EO-1022 is an ADC containing seribantumab, a fully human immunoglobulin G2 (“IgG2”) anti-HER3 mAb, and an MMAE payload, with glycan site-specific conjugation. Risks and Uncertainties The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure, and extensive compliance-reporting capabilities. There can be no assurance that the Company’s research and development of its product candidates will be successfully completed, that adequate protection for the Company’s intellectual property will be obtained, that any products developed will obtain necessary government regulatory approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from product sales. The Company operates in an environment of rapid change in technology and substantial competition from pharmaceutical and biotechnology companies. Liquidity and Going Concern The Company has historical losses from operations and anticipates that it will continue to incur losses for the foreseeable future as it continues the research and development of its product candidates. The Company incurred net losses of $44.5 million and $45.7 million for the years ended December 31, 2024 and 2023, respectively, and had an accumulated deficit of $240.5 million as of December 31, 2024. Through December 31, 2024, the Company has funded its operations with proceeds from the sale of convertible preferred stock, proceeds from public offerings of common stock and warrants, and borrowings under a debt facility. The Company does not expect that its cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements through at least 12 months from the issuance date of the consolidated financial statements. The Company is subject to risks, expenses, and uncertainties frequently encountered by companies in its industry. The Company intends to continue its research and development of its product candidates, which will require significant additional funding. If the Company is unable to obtain additional funding in the future and/or its research, development, and commercialization efforts require higher than anticipated capital, there may be a negative impact on the financial viability of the Company. The Company plans to fund its operations through public and private placements of equity and/or debt, payments from potential strategic research and development arrangements, licensing and/or collaboration arrangements with pharmaceutical companies or other institutions, or funding from other third parties. Such financing and funding may not be available at all, or on terms that are favorable to the Company. Failure to raise additional capital could have a material adverse effect on the Company’s ability to achieve its intended business objectives. As a result of these factors, together with the anticipated increase in spending that will be necessary to continue to research, develop, and commercialize the Company’s product candidates, there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these consolidated financial statements are issued. The consolidated financial statements do not contain any adjustments that might result from the resolution of any of the above uncertainties.

NATURE OF BUSINESS

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

1. NATURE OF BUSINESS

Elevation Oncology, Inc. (the “Company”), which was formerly known as 14ner Oncology, Inc., was incorporated under the laws of the State of Delaware on April 29, 2019 (“Inception”). The Company is an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The Company is leveraging its antibody-drug conjugate (“ADC”) expertise to advance a novel pipeline, initially targeting two validated targets in oncology, Claudin 18.2 and HER3. The Company’s lead product candidate, EO-3021, is an ADC comprised of a fully human anti-Claudin 18.2 immunoglobulin G1 monoclonal antibody (“mAb”) site-specifically conjugated with a cleavable linker to the cytotoxic monomethyl auristatin E (“MMAE”) payload. EO-3021 is currently being evaluated in a Phase 1 clinical trial as a monotherapy and in combinations with dostarlimab, a PD-1 inhibitor, and ramucirumab, a VEGFR2 inhibitor, in patients with advanced, unresectable or metastatic gastric/gastroesophageal junction solid tumors. The Company’s second product candidate, EO-1022, is a potentially differentiated HER3 ADC being developed for the treatment of patients with HER3-expressing solid tumors, including breast cancer, non-small cell lung cancer and other solid tumors. EO-1022 is an ADC containing seribantumab, a fully human immunoglobulin G2 (“IgG2”) anti-HER3 mAb, and an MMAE payload, with glycan site-specific conjugation.

Risks and Uncertainties

The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure, and extensive compliance-reporting capabilities.

There can be no assurance that the Company’s research and development of its product candidates will be successfully completed, that adequate protection for the Company’s intellectual property will be obtained, that any products developed will obtain necessary government regulatory approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from product sales. The Company operates in an environment of rapid change in technology and substantial competition from pharmaceutical and biotechnology companies.

Liquidity and Going Concern

The Company has historical losses from operations and anticipates that it will continue to incur losses for the foreseeable future as it continues the research and development of its product candidates. The Company incurred net losses of $44.5 million and $45.7 million for the years ended December 31, 2024 and 2023, respectively, and had an accumulated deficit of $240.5 million as of December 31, 2024. Through December 31, 2024, the Company has funded its operations with proceeds from the sale of convertible preferred stock, proceeds from public offerings of common stock and warrants, and borrowings under a debt facility. The Company does not expect that its cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements through at least 12 months from the issuance date of the consolidated financial statements.

The Company is subject to risks, expenses, and uncertainties frequently encountered by companies in its industry. The Company intends to continue its research and development of its product candidates, which will require significant additional funding. If the Company is unable to obtain additional funding in the future and/or its research, development, and commercialization efforts require higher than anticipated capital, there may be a negative impact on the financial

viability of the Company. The Company plans to fund its operations through public and private placements of equity and/or debt, payments from potential strategic research and development arrangements, licensing and/or collaboration arrangements with pharmaceutical companies or other institutions, or funding from other third parties. Such financing and funding may not be available at all, or on terms that are favorable to the Company. Failure to raise additional capital could have a material adverse effect on the Company’s ability to achieve its intended business objectives.

As a result of these factors, together with the anticipated increase in spending that will be necessary to continue to research, develop, and commercialize the Company’s product candidates, there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these consolidated financial statements are issued. The consolidated financial statements do not contain any adjustments that might result from the resolution of any of the above uncertainties.