** Shares of  Biotech firm Eledon Pharmaceuticals ELDN.O rise 5.17% to $3.05 premarket

** Co says FDA granted orphan drug status for tegoprubart to prevent liver transplant rejection; the condition involves the body attacking the new organ

**  Tegoprubart, an experimental immune‑modulating drug, has prior orphan status for islet cell transplants and ALS – ELDN

**  ELDN CEO says studies suggest the drug may improve graft survival and reduce side effects vs. current therapies

**  Co plans to start a trial in liver transplant patients later this year; drug also being studied in kidney transplants and ALS, co says

** FDA grants orphan drug status to promote drug development for rare diseases affecting fewer than 200,000 people in the U.S.

** Shares down ~63% in 2025