Eliem Therapeutics surges following IPO pop

Climb Bio

11/08/2021 19:39

** Eliem Therapeutics  ELYM.O  shares surge 44% to as high
as $22.89 on Weds, a day after jumping on debut
    ** ELYM was halted briefly at 1230 ET for volatility; stock
recently up 22.6% at $19.50
    ** Shares on Tues closed at $15.90, 27% above $12.50 IPO
price after co sold 6.4 mln shares
    ** Eliem had originally marketed 4.5 mln shares at $17-$19
in deal delayed from last week (See filing https://www.sec.gov/Archives/edgar/data/1768446/000119312521239810/d105292ds1a.htm#toc105292_15)
    ** Co focuses on potential treatments for chronic pain,
depression, epilepsy and anxiety
    ** Nearly 540k shares have traded so far on Weds; approx 1.5
mln shares exchanged hands on Tues, per Refinitiv data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))