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Erytech Pharma SA ERYP shares,
climbed 98.5% on significant volume in pre-market trading on Friday, enough to make it the biggest winner and most actively traded before the open, after the France-based biopharmaceutical company said its treatment for patients with acute hypersensitive lymphoid leukemia (ALL) had obtained the Fast Track designation by the Food and Drug Administration. Trade volume was 11.5 million shares in recent trades, compared to an average of around 66,600 shares over a full day. “This is another important step and a significant inflection point in the advancement of our lead product candidate eryaspase, which reinforces our recently announced intention to submit a [Biologics License Application] for eryaspase in hypersensitive ALL patients, ”said CEO Gil Beyen. “We believe the FDA’s Fast Track designation for eryaspase underscores its potential to address this high unmet medical need. The stock, which closed at a 16-month low on Thursday, fell 42.8% in the last three months through Thursday, while the iShares Biotechnology IBB ETF,
gained 7.2% and the S&P 500 SPX,
changed to 5.7%.
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