Edison Issues ADR Research Update on Erytech Pharma
LONDON, December 18, 2015 /PRNewswire/ --
The recent €25.4m ($27.7m) private placement provides Erytech with a healthy cash balance, which should allow effective execution on the strategy to advance and accelerate Graspa/Eryasp in the US, to move development into front-line ALL (acute lymphoblastic leukemia) and to continue pursuing new indications. Two-year follow-up ALL data for Graspa were recently presented at ASH, reinforcing its potential as an effective, safe therapy for patients with few options in this indication. Our valuation is increased to $354.2m with the higher cash balance.
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Our valuation has increased to $354.2m (from $340m) largely owing to incorporation of the recent €25.4m private placement. We have made no major changes to our underlying Graspa/Eryasp forecasts, which continue to assume that Erytech will retain development and commercialization rights in ALL in the US.
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For more information please contact:
Dr Philippa Gardner
Edison Investment Research
+44-(0)20-3681-2521
Jonas Peciulis
Edison Investment Research
+44-(0)20-3077-5728
Christian Glennie
Edison Investment Research
+44-(0)20-3077-5727
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SOURCE Edison Investment Research
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