---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-006282"
form_type: "8-K"
ticker: "CLYM"
cik: "0001768446"
company_name: "Climb Bio, Inc."
filed_at: "2023-03-06T23:59:59+00:00"
generated_at: "2026-06-18T11:59:15.876984+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Eliem restructures, pauses ETX-155, focuses on Kv7 program, extends cash runway into 2027

## Summary
- Corporate reorganization: pause ETX-155 (GABA A PAM) development, focus on Kv7 program lead ETX-123; workforce reduction ~55% in H1 2023.
- Andrew Levin appointed Executive Chairman after CEO Bob Azelby departure; Dr. Valerie Morisset continues as EVP R&D and CSO.
- Cash, cash equivalents and marketable securities $123.6M as of Dec 31, 2022; expected to fund operations into 2027.
- Net loss for FY2022: $45.2M ($7.8M Q4), compared to $47.5M in FY2021; R&D expenses $26.2M, G&A $18.9M.
- IND-enabling studies for ETX-123 initiated; Phase 1 studies planned for H1 2024; preclinical data at March 2023 symposium.

## SEC filing metadata
- accession: 0000950170-23-006282
- form_type: 8-K
- ticker: CLYM
- cik: 0001768446
- company_name: Climb Bio, Inc.
- filed_at: 2023-03-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1768446/000095017023006282/0000950170-23-006282-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1768446/000095017023006282/elym-20230306.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-006282
- JSON: https://secwatch.observer/filing/0000950170-23-006282.json
- Plain text: https://secwatch.observer/filing/0000950170-23-006282.txt

## Key facts
- Earnings Releases
  Climb Bio, Inc. reported the quarter and year ended December 31, 2022 results: net income Net loss was $7.8 million for the three months ended December 31, 2022, and $45.2 million for the full year 2022.
  - Period: the quarter and year ended December 31, 2022
  - Net income: Net loss was $7.8 million for the three months ended December 31, 2022, and $45.2 million for the full year 2022
  - Result: reported results
  source text: On March 6, 2023, Eliem Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and fiscal year ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1768446/000095017023006282/0000950170-23-006282-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.