What's Happening With Eliem Therapeutics Shares Today?
Portfolio Pulse from Vandana Singh
Eliem Therapeutics Inc (NASDAQ:ELYM) shares are trading higher after the company completed a review of its business. The company has decided to halt further development of its Kv7 program and to conduct a comprehensive exploration of strategic alternatives. Eliem has engaged Leerink Partners to act as a strategic advisor. As of June 30, 2023, the company had approximately $102.6 million in cash, cash equivalents, and investments in marketable securities.
July 20, 2023 | 4:08 pm
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Eliem Therapeutics has completed a business review, halted its Kv7 program, and is exploring strategic alternatives. This has led to a rise in its share price.
The company's decision to halt its Kv7 program and explore strategic alternatives indicates a significant shift in its business strategy. This, coupled with the fact that it has a substantial amount of cash and investments, has led to increased investor confidence, resulting in a rise in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100