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Elevation Oncology Investors - Elevation Oncology Reports Second Quarter 2021 Financial Results Entered into collaboration with Caris Life Sciences for the identification of oncogenic fusions and driver alterations - - Raised over $ 100 million in IPO gross proceeds , extending cash runway into Q2 2023 - · Strengthened corporate leadership with key appointments to the management team and Board of Directors - NEW YORK , Aug. 12 , 2021 / PRNewswire / -- Elevation Oncology , Inc. ( Nasdaq : ELEV ) , a clinical stage biopharmaceutical company focused on the development of precision medicines for patients with genomically defined cancers , today announced financial results for the quarter ended June 30 , 2021 . " The second quarter marked a pivotal period for Elevation Oncology , with our debut in the public markets raising over $ 100 million which extends our cash runway into Q2 2023 and positions the Company to execute on our lead program , seribantumab , and build an industry leading precision oncology pipeline , " said Shawn M. Leland , PharmD , RPh , Founder and Chief Executive Officer of Elevation Oncology . " Looking ahead , we anticipate completing enrollment of the first 20 patients in Cohort 1 of the tumor - agnostic Phase 2 CRESTONE study of seribantumab for patients with tumors harboring an NRG1 fusion later this year or in early 2022 , and presenting the clinical data from the interim analysis in mid - 2022 at a major medical conference . Through our recent coloration with Caris Life Sciences , we are identifying oncogenic fusions and driver mutations to enable pipeline expansion opportunities within genomically defined patient populations as part of our commitment to expand the potential of precision medicine . " Recent Business Highlights • Entered into a collaboration with Caris Life Sciences . In June 2021 , Elevation Oncology and Caris announced a strategic collaboration to jointly discover and develop therapeutics targeted against oncogenic fusions and driver alterations . The two Companies will leverage genomic data from Caris's leading WTS and WES molecular diagnostics platform , prioritize targets that are likely to be actionable driver alterations , and jointly discover and develop therapeutics to target them . • Completed a successful initial public offering ( IPO ) . The Company's common stock commenced trading on The NASDAQ Global Market under the ticker symbol " ELEV " on June 25 , 2021. The IPO raised $ 106.5 million in gross proceeds , before deducting underwriting discounts and commissions and estimated offering expenses . • Strengthened corporate leadership . During the second quarter , the Company appointed Joseph Ferra as Chief Financial Officer , bringing to Elevation two decades of biopharma industry leadership including in investment banking and , most recently , as a public - company CFO . Further , Elevation Oncology appointed Michael Carruthers , an experienced biotech executive , to the Board of Directors and Chair of the Audit Committee . Clinical Development and Pre - Clinical Data • Opened additional clinical trial sites in CRESTONE . There are now 26 trial sites that are open and enrolling across the US . Through the " just - in - time " clinical site model in partnership with Caris Life Sciences , Tempus , and US Oncology , there are over 400 available sites that can be activated within CRESTONE . • Established additional diagnostic partnerships . With the addition of Genomic Testing Collaborative , PathGroup , and Exactis , there are now a total of nine partnerships in place to support the identification and enrollment of patients with tumors harboring an NRG1 fusion in CRESTONE , including pre - existing partnerships with Ashion Analytics ( now Exact Sciences ) , NeoGenomics , Caris Life Sciences , Strata Oncology , Tempus , and US Oncology . • Presented new preclinical data on additional tumor models harboring an NRG1 fusion . Along with its collaborators in the Marc Ladanyi laboratory at Memorial Sloan Kettering ( MSK ) , the Company presented data at the American Association of Cancer Research ( AACR ) Virtual Annual Meeting 2021. The