Eliem Therapeutics plunges as nerve damage pain drug fails trial

Climb Bio

25/04/2022 13:47

** Eliem Therapeutics' shares  ELYM.O  plunge nearly 54% at
$3.01 in premarket trade
    ** Says its drug ETX-810 failed to meet the primary goal in
a mid-stage trial; drug was being evaluated as a potential
treatment of nerve damage pain caused by diabetes  urn:newsml:reuters.com:*:nGNX83dGtS
    ** CEO Bob Azelby says while the trial was well-executed,
the company sees no development path forward for the drug to
treat diabetic peripheral neuropathic pain
    ** ELYM also delays enrollment in mid-stage stage trial of
another experimental drug, ETX-155, for major depressive
disorder and perimenopausal depression following inconclusive
interim results from an early-stage study
    ** Up to Friday's close, stock had fallen nearly 38% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))