(AOF) – Erytech jumped 19% to 1.65 euros despite the announcement of limited financial visibility. As of December 31, biotech held 33.7 million euros in cash. According to it, this amount, without taking into account future revenues from possible strategic opportunities, can finance its planned operating expenses and its current programs until the third quarter of 2022. The group has confirmed the selection of an advisory bank to assess its strategic alternatives and partnership possibilities.
Evaluation is ongoing and various partnership options are in advanced stages of negotiation, Erytech said. In view of the ongoing discussions, the group has postponed the publication of its financial results for the 2021 financial year to a later date, in April.
From an operational perspective, the BLA Biologics License Application in acute lymphoblastic leukemia (ALL) (a cancer that originates in blood stem cells) is nearing completion, and should allow submission as soon as the FDA has finalized its review of the latest requests for information and accepted the filing (compared to the end of 2021 previously).
For the first-line phase 1 study in pancreatic cancer, after the recruitment of the first 12 patients evaluated, it is now planned to continue the recruitment up to around 18 patients. Full results are expected in the third quarter of 2022.
Finally, the first data from the TRYbeCA-2 study in triple-negative breast cancer are expected to be published in mid-2022, during the third quarter of 2022.
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Boost for French pharmacy
At the end of a recent CSIS, the French authorities announced an amount of credits (7 billion euros) never reached: 1.5 billion for hospital-university research, 2 billion for investment in health via bpi france , 1.5 billion in aid for the relocation of industrial projects, and 2 billion to strengthen investment in three sectors of the future (bioproduction, digital medicine, and pandemic preparedness). In addition, the annual growth in drug expenditure reimbursed by Medicare will be 2.4%, which should generate growth of at least 0.5% in the turnover of laboratories,
Above all, the normal drug marketing procedure will be accelerated (up to 500 days saved) if the medical benefit rendered is sufficient.