Elicio Therapeutics Names Preetam Shah Chief Strategy And Financial Officer; Stock Down

(RTTNews) - Elicio Therapeutics, Inc. (ELTX), a clinical-stage biotechnology company, announced Monday the appointment of Preetam Shah as Chief Strategy and Financial Officer, effective as of the date hereof.

In pre-market activity on the Nasdaq, Elicio Therapeutics shares were losing around 7.1 percent to trade at $8.13.

The company noted that the appointment comes at an important time ahead of its disease-free survival event-driven interim analysis for its Phase 2 AMPLIFY-7P study.

Robert Connelly, President and Chief Executive Officer of Elicio, said, "He joins us during an exciting time. We remain encouraged by the potential of ELI-002 and the broad applicability of the Amphiphile platform, and I am confident that Preetam's extensive experience in corporate finance, strategy, and business development will be a tremendous asset to our Company."

Shah said his primary focus would be to ensure that the firm's financial and corporate strategies align with its overarching goal of efficiently bringing cutting-edge cancer immunotherapeutics to patients.

Prior to joining Elicio, Shah served as the Chief Financial Officer and Chief Business Officer of Cidara Therapeutics. Prior to that, he was Executive Vice President, Chief Financial Officer and Treasurer for Brainstorm Cell Therapeutics. Additionally, Shah has held senior roles as an investment banker at Barclays Capital PLC and Canaccord Genuity Inc.

He is also the founder of Saisarva LLC, a healthcare consulting firm. He had also served as Vice President, U.S. Operations and Investments, at Reliance Capital USA Ventures, an affiliate of Reliance ADA Group Companies.