'Results are unambiguous': Eliem's lead program fails and share price halves before opening bell
When Eliem Therapeutics launched last March, CSO Valerie Morisset told Endpoints News that upon being approached about making a leap to the biotech, she had originally intended to “basically kill it and move along to the next opportunity.” Instead, she joined the Seattle-UK biotech and quickly helped take it public a mere five months after that stealth exit.
But it appears Eliem will have to adopt Morisset’s original line of thinking and move along to the next opportunity as the startup’s lead program has failed in a Phase IIa trial in patients with diabetic peripheral neuropathic pain (DPNP). The prodrug, ETX-810, will live on in a second indication, with Phase IIa results in lumbosacral radicular pain, or sciatica, slated for the third quarter.
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