Eliem Therapeutics rises on exploring strategic options

Climb Bio

20/07/2023 12:33

** Shares of drug developer Eliem Therapeutics Inc  ELYM.O 
rise 12.5% to $3.15 premarket
    ** Co says it will explore potential strategic alternatives
that may include, but are not limited to, an acquisition,
merger, business combination, or other transaction 
    ** ELYM says it has decided to halt further development of
its antiseizure drug program, Kv7 
    ** Leerink Partners to act as a strategic advisor in the
process - ELYM
    ** As of June 30, 2023, co had a preliminary unaudited
amount of ~$102.6 mln in cash, cash equivalents - ELYM
    ** Up to last close, stock down ~24% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))