SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Eliem Therapeutics, Inc. – ELYM

New York, New York, UNITED STATES


NEW YORK, May 17, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Eliem Therapeutics, Inc. (“Eliem” or the “Company”) (NASDAQ: ELYM). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Eliem and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On or around August 9, 2021, Eliem commenced its initial public offering (“IPO”), selling 7.36 million shares of common stock priced at $12.50 per share. Then, on April 25, 2022, Eliem issued a press release “report[ing] results from its Phase 2a clinical trial investigating ETX-810 for the treatment of diabetic peripheral neuropathic pain (DPNP).” Eliem disclosed that the trial did not meet the goal of reducing pain intensity, and that the company has chosen to delay enrollment in studies of ETX-155 in depression. 

On this news, Eliem’s stock price fell $3.63 per share, or 55.76% percent, to close at $2.88 per share on April 25, 2022, damaging investors.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980