Eledon Pharmaceuticals, Inc. (ELDN) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 13, 2026

Risk Assessment Details

Potential Dilution: 147.01% of current shares
Recent Dilution: 100.77% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
77M
Potential Supply
110M
Additional shares possible
Splits
None
Past 2 years

Summary

ELDN currently has 77.2M outstanding shares. with significant dilution risk as 113M authorized shares could dilute existing holders by 147.0%. The company has significantly diluted shareholders by 100.77% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 13, 2026

10-Q filing | 77.2M shares outstanding

77M 110M
May 01, 2026

S-3 filing: The company is offering up to $500,000,000 in aggregate principal amount of common stock, preferred stock, debt securities, warrants and/or units.

75M 120M
Mar 19, 2026

10-K filing | 81.8M shares outstanding

82M 88M
Nov 14, 2025

10-Q filing | 59.9M shares outstanding

60M 110M
Aug 14, 2025

10-Q filing | 59.9M shares outstanding

60M 110M
May 14, 2025

10-Q filing | 59.9M shares outstanding

60M 110M
Mar 20, 2025

10-K filing | 59.9M shares outstanding

60M 110M
Nov 12, 2024

10-Q filing | 55.5M shares outstanding

55M 110M
Oct 30, 2024

8-K filing: Eledon Pharmaceuticals, Inc. entered into an underwriting agreement for the offering, issuance and sale of 18,356,173 shares of common stock at $3.65 per share and pre-funded warrants to purchase 4,931,507 shares at an exercise price of $0.001 per share, with the Offering expected to close on or about October 30, 2024, resulting in estimated net proceeds of approximately $79.5 million.

39M 130M
Oct 01, 2024

8-K filing: Eledon Pharmaceuticals, Inc. completed the sale of 1,527,400 shares on September 30, 2024 and 200,000 shares on October 1, 2024 of its common stock, resulting in gross proceeds of approximately $4.0 million. ($4.0M proceeds)

39M 130M
Sep 20, 2024

S-3 filing: The company is offering up to $250,000,000 in aggregate principal amount of common stock, preferred stock, debt securities, warrants and/or units from time to time, and is also offering common stock in an at-the-market offering for pre-commercial activities for products, working capital and general corporate purposes.

39M 130M
Aug 19, 2024

10-Q filing | 42.3M shares outstanding

42M 98M
Jul 10, 2024

8-K filing: Eledon Pharmaceuticals, Inc. completed the sale of 909,088 shares of its common stock at $0.001 par value, resulting in gross proceeds of approximately $2.1 million. ($2.1M proceeds)

39M 100M
May 24, 2024

S-3 filing: This S-3 filing relates to the resale of up to 21,100,000 shares of common stock by selling stockholders, consisting of shares held by the selling stockholders and shares issuable upon the exercise of outstanding pre-funded warrants.

39M 100M
May 15, 2024

10-Q filing | 38.5M shares outstanding

39M 80M
May 07, 2024

8-K filing: Eledon Pharmaceuticals, Inc. entered into a Securities Purchase Agreement to issue and sell 13,110,484 shares of common stock at $2.37 per share and pre-funded warrants to purchase 7,989,516 shares of common stock at $2.369 per underlying share, resulting in gross proceeds of approximately $50 million. ($50.01M proceeds)

25M 94M
Mar 28, 2024

10-K filing | 24.6M shares outstanding

25M 94M
Nov 09, 2023

10-Q filing | 24.2M shares outstanding

24M 95M
Aug 10, 2023

10-Q filing | 24.0M shares outstanding

24M 95M
May 18, 2023

S-3 filing: This prospectus relates to the resale from time to time of up to 75,757,590 shares of our common stock by the selling stockholders.

23M 96M
May 11, 2023

10-Q filing | 22.5M shares outstanding

23M 20M
May 01, 2023

8-K filing: Eledon Pharmaceuticals, Inc. entered into a Securities Purchase Agreement for a private placement involving the issuance and sale of common stock and warrants to institutional and accredited investors in three closings, expected to result in gross proceeds of approximately $35 million in the initial closing, an additional $105 million in the second and third closings, and an additional $45 million assuming the exercise of all Common Warrants. ($140.0M proceeds)

14M 29M
Mar 30, 2023

10-K filing | 14.3M shares outstanding

14M 29M
Nov 14, 2022

10-Q filing | 14.3M shares outstanding

14M 29M
Aug 11, 2022

10-Q filing | 14.3M shares outstanding

14M 29M
May 12, 2022

10-Q filing | 13.8M shares outstanding

14M 29M
Mar 24, 2022

10-K filing | 14.3M shares outstanding

14M 29M
Jan 13, 2022

8-K filing: Eledon Pharmaceuticals, Inc. exchanged 550,000 shares of common stock for 9,899.99 shares of Series X1 Preferred Stock with Biotechnology Value Fund, L.P., Biotechnology Value Fund II, L.P., Biotechnology Value Trading Fund OS, L.P. , MSI BVF SPV, L.L.C.

14M 29M
Nov 12, 2021

10-Q filing | 14.3M shares outstanding

14M 29M
Aug 12, 2021

10-Q filing | 14.3M shares outstanding

14M 29M
May 14, 2021

10-Q filing | 14.3M shares outstanding

14M 29M
Mar 31, 2021

10-K filing | 14.3M shares outstanding

14M 29M
Mar 31, 2021

S-3 filing: The company is filing an S-3 to offer up to $250,000,000 in common stock, preferred stock, and/or debt securities, with a $75,000,000 portion of common stock to be offered through an at-the-market offering via Jefferies LLC, and plans to use the net proceeds for research and development relating to AT-1501, as well as for working capital and general corporate purposes.

15M 28M
Dec 11, 2020

S-3 filing: The filing is an S-3 form for the proposed resale of 12,364,568 shares of common stock by selling stockholders. The shares are issuable upon conversion of Series X1 Preferred Stock that was issued in a private placement transaction dated September 14, 2020 and upon conversion of Series X1 Preferred Stock underlying warrants that the Company assumed in connection with the acquisition of Anelixis Therapeutics, Inc. on September 14, 2020.

1.4M 34M
Nov 16, 2020

10-Q filing | 1.4M shares outstanding

1.4M 22M
Aug 14, 2020

10-Q filing | 19.4M shares outstanding

19M 3.9M
May 15, 2020

10-Q filing | 16.1M shares outstanding

16M 7.2M
Mar 25, 2020

S-1 filing: The selling stockholders are offering on a resale basis an aggregate of 7,243,135 shares of common stock issuable upon the exercise of outstanding warrants.

16M 7.2M
Mar 17, 2020

10-K filing | 16.1M shares outstanding

16M 0
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