Eliem Therapeutics slumps as nerve damage pain drug misses main trial goal

Climb Bio

02/08/2022 13:53

** Eliem Therapeutics' shares  ELYM.O  slump ~28% to $2.20
premarket
    ** Co says experimental drug ETX-810 misses main goal in
mid-stage trial for treatment of radiating pain caused by damage
of some nerves  urn:newsml:reuters.com:*:nGNXdHFb8
    ** Co decides to discontinue development of the drug as new
result consistent with trial data reported in April for the drug
in treatment of nerve damage pain caused by diabetes
 urn:newsml:reuters.com:*:nL3N2WN2GA
    ** Expects cash runway to extend beyond mid-2024 due to
discontinuation of drug development
    ** Up to Monday's close, stock had fallen 71% YTD

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