Posted: 05/01/2025 03:58 am
Elevation Oncology, Inc. (NASDAQ: ELEV), a company focused on the discovery and development of selective cancer therapies, continues to advance its agenda despite financial fluctuations and strategic shifts. A crucial aspect of the company's operations is its executive compensation, which reflects its strategic priorities and challenges within the biotech industry.
In 2024, David Dornan, Ph.D., the Chief Scientific Officer, received a total compensation package of $1,165,089. This included a base salary of $456,000, an option award valued at $419,172, and an incentive plan compensation of $174,192. Dornan's compensation aligns with Elevation Oncology's objectives to drive scientific innovation as they pursue groundbreaking cancer therapies^1. Comparatively, in 2023, Joseph J. Ferra, Jr., President and Chief Executive Officer, had a total compensation of $1,243,856, comprising a base salary of $590,302 and substantial option awards, reflecting his leadership role during a critical period of restructuring and focus on EO-1022^2.
Valerie M. Jansen, M.D., Ph.D., who served as the Chief Medical Officer in 2021, earned $898,741, predominantly through an option award of $528,421. Jansen's compensation mirrored the company's commitment to medical innovation, even as the firm navigated through earlier-stage drug developments^3.
These figures are set against a backdrop of significant corporate developments. Recently, Elevation Oncology announced its decision to discontinue EO-3021 development following disappointing clinical trial results. This decision underscores strategic pivots in the company's drug pipeline, now focusing on EO-1022, a HER3-targeted ADC^6. The shift aims to address unmet needs across various tumors with anticipated preclinical data presentations at high-profile oncology conferences such as the AACR Annual Meeting 2025^7.
Amid these operational shifts, Elevation Oncology's stock has experienced volatility, recently trading at $0.3716 with marked fluctuations in the stock price over the past year^9. These dynamics, combined with compensation strategies, illustrate the challenges and potential of balancing scientific pursuits with financial performance in the biotech arena. The company's next earnings announcement, scheduled for May 2025, might provide further insights into its strategic direction^9.
:
1. [SEC Filing: David Dornan, 2024 Compensation](https://www.sec.gov/Archives/edgar/data/1783032/000155837025005413/0001558370-25-005413-index.htm)
2. [SEC Filing: Joseph J. Ferra, 2023 Compensation](https://www.sec.gov/Archives/edgar/data/1783032/000155837024005912/0001558370-24-005912-index.htm)
3. [SEC Filing: Valerie M. Jansen, 2021 Compensation](https://www.sec.gov/Archives/edgar/data/1783032/000155837023007060/0001558370-23-007060-index.htm)
4. [Elevation Oncology's Press Release on ADC Programs](https://www.prnewswire.com/news-releases/elevation-oncology-to-discontinue-development-of-eo-3021-advancing-eo-1022-while-evaluating-strategic-options-302406229.html)
5. [Elevation Oncology's Strategic and Clinical Updates](https://www.prnewswire.com/news-releases/elevation-oncology-presents-preclinical-proof-of-concept-data-for-eo-1022-at-the-american-association-for-cancer-research-aacr-annual-meeting-2025-302437000.html)
6. [Elevation Oncology's Decision to Halt EO-3021](https://www.zacks.com/stock/news/2433626/elevation-oncology-plunges-42-on-ending-development-of-lead-drug?cid=CS-STOCKNEWSAPI-FT-analyst_blog|company_news_medical_sector-2433626)
7. [Press Release: Elevation Oncology's Preclinical Data Presentation](https://www.prnewswire.com/news-releases/elevation-oncology-to-present-preclinical-data-for-eo-1022-at-the-american-association-for-cancer-research-aacr-annual-meeting-2025-302407842.html)
8. [Company Performance Data](https://www.sec.gov/Archives/edgar/data/1783032)
9. [Current Stock Price and Market Activity](https://www.nasdaq.com/market-activity/stocks/elev)
