ERYTECH Pharma S.A. (ERYP), a clinical-stage biopharmaceutical company, closed Wednesday’s regular trading session at $1.57 after declining 1.87% during the day. In the premarket, ERYP stock has rocketed 47.13% and as a result, is trading at $2.31 at the time of the writing.
ERYP Published Positive Results from Phase 2 Trial of Eryaspase
The humongous increase in the price of ERYP could be attributed to the publication of positive results from the Phase 2 Trial of Eryaspase. After the closure of the market on Wednesday, ERYP announced that the results from the Phase 2 trial of eryaspase had been published in the British Journal of Haematology. The trial was meant to figure out the safety of eryaspase in patients having previously experienced hypersensitivity towards the pegylated asparaginase therapy. During the trial, Eryaspase depicted a sustained level of asparaginase enzyme activity.
What’s Up in Biopharma Industry?
During last week, biopharma stocks have mostly remained in positive territory, for the first time in 2022. Even the rising inflation and Russian Ukraine war were not able to slow down the progress of the biopharma industry. As the world is seeing subsiding effects of the pandemic which provided a window of opportunity for the biopharma industry to rise, the industry seems to be ready to fight other health challenges as well.
ERYP Ongoing Trials
ERYP is currently in midst of various trials. The development of TRYbeCA-1, aiding in the treatment of pancreatic cancer, has reached a stage of the phase-3 trial, where TRYbeCA-1 was not able to achieve the primary efficacy endpoint. Alongside that, ERYP also conducted rESPECT, a Phase 1 trial that evaluates the safety of eryaspase when in combination with mFOLFIRINOX. The TRYbeCA-2 trial is also ongoing, which evaluates the eryaspase in combination with gemcitabine and carboplatin chemotherapy.
The data for the last five years has revealed that the long-term investment has not provided returns to the investors of ERYP stock, instead, the stock has slipped a massive 89% during the period. Medium-term investors have also faced a hard time, with a decline of more than 77% over the past year. However, looking ahead, fundamentals are looking solid for the company, even though the past track record is believed so, the stock isn’t working for investors. Therefore, investors should take a careful decision regarding investment in ERYP stock.