See Here Why Recently Listed Eliem Therapeutics Shares Are Plummeting - Eliem Therapeutics (NASDAQ:ELYM)

Eliem Therapeutics Inc's ELYM ETX-810 Phase 2a trial in diabetic peripheral neuropathic pain (DPNP) failed to achieve statistically significant separation from placebo on the trial's primary endpoint of daily pain score.
The Company will longer pursue the development of ETX-810 in DPNP.
The Company has also fully enrolled its Phase 2a proof-of-concept trial evaluating ETX-810 in patients with lumbosacral radicular pain (LSRP), commonly referred to as sciatica.
The LSRP study has enrolled 149 patients and has a similar design to the Phase 2a DPNP study.
The LSRP study is expected to report topline data in Q3 of 2022.
Eliem has reviewed interim results from the Phase 1b photosensitive epilepsy study and has elected to delay the enrollment of its Phase 2a trials of ETX-155 in major depressive disorder and perimenopausal depression.
Three patients have been evaluated to date in the Phase 1b PSE study, and the results of ETX-155 on the photoparoxysmal response observed following intermittent photic stimuli were inconclusive.
An analysis of the drug exposures in these patients indicated that drug levels were significantly lower than expected.
The Company is currently investigating potential root causes of the observed difference.
The Company went public last year in August.
Price Action: ELYM shares are down 53.90% at $3 during the premarket session on the last check Monday.