Eliem Therapeutics Q2 net loss $14.6M; discontinues ETX-810 Phase 2a after failure

Climb Bio, Inc.

2022-Q2 EPS reported -$1.06

Net loss of $14.6M for Q2 2022 vs $8.7M in Q2 2021; cash, equivalents, securities $134.7M.
ETX-810 discontinued after failing primary endpoint in lumbosacral radicular pain Phase 2a.
Initiated Phase 1 PK trial for ETX-155; results expected Q4 2022; Phase 2a MDD planned Q1 2023.
Cash runway now expected to fund operations into 2025 due to ETX-810 discontinuation.
R&D expenses $8.8M (up from $5.8M YoY); G&A $4.9M (up from $2.9M YoY).

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