ELYM Overview

Company Name Change: Eliem Therapeutics, Inc. has rebranded to Climb Bio, Inc., reflecting its new focus on developing treatments for immune-mediated diseases following the acquisition of Tenet Medicines, Inc. The company will trade under the ticker symbol "CLYM" starting October 3, 2024.

Lead Product Candidate: Climb Bio's lead product, budoprutug, is an anti-CD19 monoclonal antibody that aims to treat various B-cell mediated diseases and has shown promising results in early clinical trials, particularly in patients with membranous nephropathy.

Insider Transactions: Eliem Therapeutics' Chief Accounting Officer, Emily Pimblett, sold shares under a pre-arranged trading plan while also converting RSUs into common stock, indicating personal financial planning rather than lack of confidence in the company.

Leadership Changes and Financial Health: The company has seen significant leadership shifts, including new appointments and an acquisition, while maintaining a strong market performance with a 212.22% year-to-date return, despite not being profitable over the last twelve months.

Eliem Therapeutics Participation: Eliem Therapeutics, Inc. will participate in the Stifel 2024 Virtual Immunology and Inflammation Summit on September 17-18, 2024, with management team members engaging in 1x1 meetings.

Focus on Autoimmune Diseases: The company is dedicated to developing therapeutics for autoimmune-driven inflammatory diseases, notably advancing budoprutug, an anti-CD19 antibody targeting various conditions such as systemic lupus erythematosus and lupus nephritis.

U.S. Stock Market Performance: U.S. stocks rose significantly, with the Dow Jones gaining around 400 points on Thursday, driven by strong earnings reports from various companies including Build-A-Bear Workshop and Affirm Holdings.

Notable Stock Gains: Several companies saw substantial stock price increases, such as Build-A-Bear (+19.7%), Affirm Holdings (+33.2%), and Nutanix (+20.9%), following better-than-expected financial results and positive guidance for future performance.

New Executive Appointments: Eliem Therapeutics has appointed Brett Kaplan, M.D. as Chief Operating Officer and Nishi Rampal, M.D. as Senior Vice President of Clinical Development to strengthen its management team following the acquisition of Tenet Medicines.

Focus on Autoimmune Diseases: The company aims to advance its lead asset, budoprutug, an anti-CD19 antibody, targeting various autoimmune diseases, while leveraging the extensive experience of the new executives in biotechnology and clinical development.

New Appointments at Eliem Therapeutics: Eliem Therapeutics has appointed Brett Kaplan as COO and Nishi Rampal as Senior Vice President of Clinical Development, bringing significant experience from their previous roles in the biotech industry.

Background of New Executives: Kaplan previously raised $250 million for epigenetic research at Chroma Medicine, while Rampal led clinical development strategies at Horizon Therapeutics before its acquisition by Amgen.