Erytech Pharma (ERYP) stock is trending in the premarket today, April 7, 2022, with shares up over 45%. At the time of writing, the stock had a value of $2.29 per share against its previous close at $1.57. Investors are responding positively to the company’s publication of positive results from the Eryaspase Phase 2 Trial.
ERYP’s Eryapase Phase 2 Trial
The company’s lead product candidate was being studied in the Phase 2 NOR-GRASPAAL-2016 trial in ALL (Acute Lymphoblastic leukemia) patients by NOPHO (Nordic Society of Pediatric Hematology and Oncology). Blood and bone marrow cancer ALL is the most common type of cancer in children in the U.S. and Europe. Moreover, the trial evaluated the safety and pharmacological profile of eryaspase in ALL patients with hypersensitivity to PEG-asparaginase therapy.
Results & Publication
Early Morning today, ERYP announced positive results of the trial being published in the British Journal of Hematology. The paper is titled “Asparaginase Encapsulated in Erythrocytes as Second-line Treatment in Hypersensitive Patients with Acute Lymphoblastic Leukaemia”.
The company’s lead product candidate demonstrated sustained asparaginsae enzyme activity and safety. Both of which were the primary objectives of the study. ERYP’s CMO Iman El-Hariry shared the company’s excitement over the possibility of an alternative treatment for ALL patients with hypersensitivity to PEG-asparaginase.
The Bigger Picture
Despite the ongoing turmoil initially caused by Covid-19 and now fueled by the Russia-Ukraine conflict, the global pharmaceutical industry has remained bullish. Recording a CAGR of 5.6%, it is projected to grow to $1.6 trillion in 2025.
The pullout of most industries from Russia has taken a toll on all markets. But the pharmaceutical industry has been noticeably slower in doing so. With the matter of life and death at hand, pharmaceutical companies are restructuring and orienting with a focus on the most important treatments and stopping the least important ones in the country. Even the giants like Pfizer have continued their operations there while donating profits to humanitarian causes. While the debate is still at large, most companies are choosing to continue saving lives rather than being entangled in the invasion.
The clinical-stage pharmaceutical company has been making some good progress this year. Some of its major milestones for 2022 include BLA submission of eryaspase in ALL in Q2 2022, TNBC Phase 2 trial data in Q3 2022, and pancreatic cancer phase 1 trial results in the second half of this year. Moreover, with over $38 million in the cash balance, the company has enough to fund all its operations into Q3 2022.