Millendo Therapeutics, Inc. announced that its Board of Directors has decided to discontinue further investment in MLE-301, a selective neurokinin 3 receptor (NK3R) antagonist for the treatment of menopausal vasomotor symptoms (VMS), based on an analysis of the pharmacokinetic and pharmacodynamic data from the ongoing single ascending dose portion of the Phase 1 study being conducted in healthy male volunteers. While MLE-301 was generally well-tolerated, the data do not support moving forward with its development in the target population of peri- and post-menopausal women, especially with the evolving dynamics of a highly competitive NK3R antagonist market. Given the Company’s limited expected financing options, the company’s Board of Directors has determined that it is in the best interests of the Company’s shareholders to explore an expanded range of strategic alternatives that include, but are not limited to, the potential sale or merger of the Company or its assets. The company will continue working with SVB Leerink to assist in its ongoing strategic process.