Welcome to our dedicated page for Eliem Therapeutics news (Ticker: ELYM), a resource for investors and traders seeking the latest updates and insights on Eliem Therapeutics stock.
Eliem Therapeutics, Inc. (ELYM) has communicated a multi-stage evolution that is reflected in its news flow, from early work in neuronal excitability disorders to a current focus on immune-mediated and autoimmune-driven inflammatory diseases. Company press releases describe how the acquisition of Tenet Medicines, Inc. and subsequent strategic decisions repositioned Eliem around its anti-CD19 monoclonal antibody program.
Recent news highlights include the closing of the Tenet Medicines acquisition, a concurrent private placement of common stock, and the decision to concentrate on budoprutug (also referred to as TNT119), an anti-CD19 antibody designed for a broad range of autoimmune diseases such as systemic lupus erythematosus, lupus nephritis, immune thrombocytopenia and membranous nephropathy. Updates also cover the company’s addition to the Russell 2000 and Russell 3000 indexes, which the company notes as an important milestone in its public-market presence.
Earlier news items provide context on Eliem’s prior strategy in neuronal excitability, including preclinical data and development plans for its Kv7.2/3 program and ETX-123, as well as corporate reorganizations and the decision to halt that program while exploring strategic alternatives. Subsequent announcements detail leadership changes, the integration of Tenet’s team and the company’s intent to build its immunology pipeline.
Investors and observers following ELYM-related news can use this page to review historical press releases on strategic transactions, financing events, index inclusion, pipeline updates and the company’s announced rebranding to Climb Bio, Inc. Reviewing this sequence of news helps clarify how the business focus and lead assets have changed over time.
Eliem Therapeutics (Nasdaq: ELYM) has announced a strategic update, focusing on its Kv7.2/3 channel opener program and lead candidate ETX-123, while pausing the development of ETX-155 for Major Depressive Disorder due to unfavorable capital conditions. The company will implement a corporate reorganization, reducing its workforce by approximately 55%, aimed at extending its cash runway into 2027. Eliem estimates that it had cash and equivalents of $123.6 million as of December 31, 2022. The Board’s decision to transition leadership comes with the departure of CEO Bob Azelby, as Andrew Levin assumes the role of Executive Chairman.
Eliem Therapeutics, Inc. (Nasdaq: ELYM) announced that CEO Bob Azelby will present at the 5th Annual Evercore ISI HealthCONx Virtual Conference on December 1, 2022, at 11:40 AM ET. The conference aims to highlight the company’s focus on developing novel therapies for neuronal excitability disorders, addressing unmet needs in areas such as psychiatry and epilepsy. A live webcast of the presentation will be accessible through the Investors section of Eliem's website, with an archived replay available for 30 days post-conference.
Eliem Therapeutics (Nasdaq: ELYM) announced a business update and financial results for Q3 2022, highlighting its plan to initiate the ETX-155 Phase 2a trial for major depressive disorder in early 2023. The trial will use a 60-milligram dose based on encouraging Phase 1 results. The company is also advancing two Kv7 pre-candidates into IND-enabling studies with safety studies scheduled for Q1 2023.
As of September 30, 2022, Eliem reported cash reserves of $129.6 million, projecting funding availability into 2025, while R&D expenses decreased to $4.3 million.
Eliem Therapeutics, a clinical-stage biotechnology firm, will participate in two investor conferences in November 2022. The first is Guggenheim’s 4th Annual Immunology and Neurology Conference on November 15, where a fireside chat is scheduled for 10:10 a.m. ET. The second is the Stifel 2022 Healthcare Conference on November 16, with a fireside chat at 1:50 p.m. ET. Both events will be webcasted live on their website and archived for 30 days. Eliem focuses on developing therapies for neuronal excitability disorders, addressing unmet needs in various medical fields.
Eliem Therapeutics (Nasdaq: ELYM) has announced significant progress in its pipeline, particularly with ETX-155, which is set to initiate a Phase 2a trial for major depressive disorder in Q1 2023. The recent Phase 1 trial results show no significant differences in drug exposure levels, validating previous findings. Additionally, the company is advancing two pre-candidates from its Kv7 program into IND-enabling studies. As of September 30, 2022, Eliem reported a robust cash position of $129.8 million, expected to fund operations into 2025.
Eliem Therapeutics (Nasdaq: ELYM) announced its Phase 1 pharmacokinetic trial for ETX-155, targeting major depressive disorder (MDD), with results expected in Q4 2022. Following the discontinuation of ETX-810 due to lack of efficacy, the company is focusing on advancing ETX-155, a GABAA receptor modulator. Financially, Eliem reported a net loss of $14.6 million for Q2 2022, up from $8.7 million in Q2 2021, alongside increased R&D expenses of $8.8 million. Cash reserves are projected to sustain operations until 2025.
Eliem Therapeutics (Nasdaq: ELYM) has discontinued the development of ETX-810 after its Phase 2a clinical trial for lumbosacral radicular pain (LSRP) failed to achieve the primary endpoint, showing no significant improvement over placebo. This follows a similar outcome in a prior trial for diabetic peripheral neuropathic pain (DPNP). Despite this setback, Eliem indicates it has sufficient capital to fund operations until mid-2024 and anticipates an extension of its cash runway. Results from the trial suggest a clear lack of clinical benefit from ETX-810.
Eliem Therapeutics (Nasdaq: ELYM) has announced the initiation of a Phase 1 pharmacokinetics trial for ETX-155, a neuroactive steroid drug intended for major depressive disorder (MDD), with results expected in Q4 2022. A Phase 2a trial for MDD is planned for Q1 2023, pending confirmation of dosage and safety. The company has sufficient capital, totaling $149.9 million, to fund operations until mid-2024. The planned Phase 2a trial for perimenopausal depression has been postponed, allowing flexibility for the pipeline's progression.
Eliem Therapeutics, Inc. (Nasdaq: ELYM) announced a virtual investor event scheduled for July 21, 2022, at 10:30 a.m. ET. The event will feature presentations from President and CEO Bob Azelby, Executive VP of R&D Valerie Morisset, and Dr. John D. Markman from the University of Rochester. Topics will include the treatment landscape for lumbosacral radicular pain (LSRP) and the clinical program for ETX-810. Investors can register for the event and access a live webcast on Eliem's website, which will also host a replay post-event.
Eliem Therapeutics has completed dosing in its Phase 2a clinical trial for ETX-810, targeting chronic lumbosacral radicular pain (LSRP). This investigational drug, a novel non-opioid prodrug of palmitoylethanolamide (PEA), aims to address significant unmet medical needs in pain management. Topline data is expected in Q3 2022, and Eliem plans a virtual investor event to discuss ETX-810's potential. The trial involves 149 patients and evaluates pain reduction over four weeks.
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