Eliem Therapeutics Shares Fall On Lower Back Pain Trial Setback

Eliem Therapeutics Inc ELYM has reported results from its Phase 2a trial investigating ETX-810 for lumbosacral radicular pain (LSRP).
In the study, ETX-810 did not achieve statistically significant separation from placebo on the trial's primary endpoint, which assessed the change from baseline to week 4 in the weekly average of the daily pain score.
Related: Eliem Announces Updated Development Plans For Its Delayed Depression Candidate.
This result is consistent with the lack of separation from placebo observed in the Phase 2a clinical trial in diabetic peripheral neuropathic pain, as reported in April.
Therefore, the company has elected to discontinue further development of ETX-810.
The company recently updated that its capital is sufficient to fund key pipeline catalysts and operations until mid-2024.
With the discontinuation of ETX-810, the company anticipates that its cash runway will extend beyond that time.
Price Action: ELYM shares are down 33.90% at $2.01 during the premarket session on the last check Tuesday.