ELYM - Eliem stock tanks 54% as ETX-810 fails in diabetic pain study; delays enrollment in depression trial of ETX-155

Eliem Therapeutics (NASDAQ:ELYM) said a phase 2a trial of ETX-810 to treat diabetic peripheral neuropathic pain did not meet the goal of reducing pain intensity, and that the company has chosen to delay enrollment in studies of ETX-155 in depression. The company said ETX-810 is currently being evaluated in two phase 2a trials in patients with DPNP and lumbosacral radicular pain (LSRP), commonly referred to as sciatica. The company said that in the phase 2a trial in DPNP, ETX-810 did not achieve statistically significant separation from placebo on the study' main goal, which was to evaluate the change from baseline to week 4 in pain intensity. Eliem President and CEO Bob Azelby said the the results were unambiguous and that currently there is not a development path forward in DPNP for ETX-810. "We look forward to seeing the results of our LSRP trial in the third quarter," added Azelby. In addition, Eliem (ELYM) said it

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Eliem stock tanks 54% as ETX-810 fails in diabetic pain study; delays enrollment in depression trial of ETX-155