Analyst Summary: Elevation Oncology, a Nasdaq-listed oncology company focusing on discovery and development of selective cancer therapies with unmet medical needs, reported its financial results for Q4 2022, along with recent developments. The company's clinical development plan is now focused on advancing EO-3021, an antibody-drug conjugate targeting solid tumors expressing Claudin 18.2, with cash runway till Q4 2024. The upcoming milestones of the company include reporting preclinical proof-of-concept data for EO-3021 in H1 2023 and starting a US Phase 1 clinical trial of EO-3021 in H2 2023. The financial highlights include $90.3 million cash, cash equivalents, and marketable securities as of December 31, 2022, expected to fund current operations till Q4 2024. The net loss for Q4 2022 was $19.0 million, compared to $9.6 million for Q4 2021, and the R&D expense for Q4 2022 was $14.5 million, compared to $6.2 million for Q4 2021. The company's lead candidate, EO-3021, is a potential best-in-class antibody-drug conjugate designed to target Claudin 18.2, a clinically validated molecular target.