Why Are Erytech Pharma Shares Soaring Tuesday Premarket?

Why Are Erytech Pharma Shares Soaring Tuesday Premarket?
  • Erytech Pharma SA ERYP shares gained more than 40% during the premarket trading session.
  • Investors are probably reacting to the U.S. patent covering methods of treating solid tumors by administering methioninase and asparaginase. 
  • In total, Erytech's IP portfolio now includes 16 global patent families with over 310 patents and 45 applications. 
  • These patent families protect Erytech's proprietary red blood cell encapsulation technology (Erycaps), its therapeutics for Oncology, Rare Metabolic Diseases, Immune Modulation, and production methods Cargo-Loaded Red Cell Extracellular Vesicles.
  • As disclosed in the patent, Erytech scientists determined that certain solid tumors, including gastric cancer, were unexpectedly sensitized to treatment with asparaginase after prior treatment with methioninase. 
  • Price Action: ERYP shares are up 34% at $3.21 during the premarket session on the last check Tuesday.

Posted In: BiotechLong IdeasNewsPenny StocksHealth CareMoversTrading IdeasGeneralBriefswhy it's moving