Eliem Therapeutics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 01:37 am IST
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Eliem Therapeutics, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 5.22 million compared to USD 14.6 million a year ago. Basic loss per share from continuing operations was USD 0.19 compared to USD 0.56 a year ago.
For the six months, net loss was USD 27.51 million compared to USD 27.8 million a year ago. Basic loss per share from continuing operations was USD 1.03 compared to USD 1.06 a year ago.
Eliem Therapeutics, Inc. is a biotechnology company. The Company is focused on developing novel therapies for neuronal excitability disorders to address unmet needs in psychiatry, epilepsy, chronic pain, and other disorders of the peripheral and central nervous systems. Its clinical-stage program, ETX-155, is an investigational, oral, neuroactive steroid NCE that is designed to act as a positive allosteric modulator (PAM) of the GABAA receptor (GABAAR). The GABAA PAM neuroactive steroid class has been clinically validated in depression and epilepsy, with Sage Therapeutics receiving approval from the United States. ETX-155 for use in multiple disorders of high unmet need, including major depressive disorder (MDD) and focal onset seizures (FOS). It has designed several lead series based on novel chemistry and selected a lead clinical candidate, ETX-123. The ETX-123 molecule displays potent activation of Kv7.2/3 in vitro with an approximately 0.7 nM EC50.