Eliem Therapeutics (ELYM) Stock

Eliem completed the acquisition of Tenet Medicines and concurrent $120 million private placement Eliem to host an Investor Day later in the year to provide an overview of budoprutug (previously referred to as TNT119), pipeline expansion strategy and anticipated milestones Cash and cash equivalents of approximately $220 million expected to fund operations into 2027, to enable the potential attainment of key clinical and development milestones for budoprutug SEATTLE and CAMBRIDGE, United Kingdom, Aug. 14, 2024 (GLOBE NEWSWIRE) --  Eliem Therapeutics, Inc. (Nasdaq: ELYM) (“Eliem” or the “Company”), today reported financial results for the quarter ended June 30, 2024 and provided a business update. “Following the close of the Tenet Medicines acquisition and the concurrent financing, we believe Eliem is well-positioned as we transition to becoming a leading development stage immunology company,” said Dr. Aoife Brennan, CEO of Eliem.

Results from Eliem Therapeutics, Inc.'s phase 1b study, using TNT119 for the treatment of patients with membranous nephropathy, expected by the end of 2024. It is expected that the global membranous nephropathy treatment market could reach $328.4 million by 2034. Two other large market indications that can be targeted using TNT119 are systemic lupus erythematosus and immune thrombocytopenia.

SEATTLE and CAMBRIDGE, United Kingdom, June 28, 2024 (GLOBE NEWSWIRE) -- Eliem Therapeutics, Inc. (Nasdaq: ELYM), announced today that the Company will be included in the Russell 2000® Index and the broad-market Russell 3000® Index, as part of the annual reconstitution of the Russell stock indexes, effective today.

Eliem to focus on advancing TNT119, an anti-CD19 antibody designed to treat a broad range of autoimmune diseases, including systemic lupus erythematosus, immune thrombocytopenia and membranous nephropathy

Eliem (ELYM) announces its decision to halt its Kv7 development program in its quest to explore strategic alternatives. The stock of the company rises 6% in response on Thursday.

Eliem Therapeutics (NASDAQ: ELYM ) stock is taking off on Thursday after the biotechnology company announced plans to explore strategic alternatives. Eliem Therapeutics came to this decision after completing a review of the company and its various programs.