Report
Martial Descoutures

INVEST SECURITIES - Erytech : Un recentrage sur les tumeurs solides - NEUTRE vs ACHAT ; OC 12€ vs 24€

La biotech française annonçait hier sa décision d'arrêter ses développements dans la Leucémie Lymphoïde aiguë c'est-à-dire ne pas lancer de phase III aux US, mais surtout de retirer son dossier d'enregistrement européen. Alors que nous avions une société qui devait mettre sur le marché son premier produit l'année prochaine (en partenariat avec Recordati), notre thèse d'investissement change fortement avec une focalisation dorénavant sur les tumeurs solides et le cancer du pancréas. Nous modifions notre objectif de cours en retirant l'indication LAL (-6€/action), ajustons notre trésorerie et abaissons notre POS du cancer du pancréas passant de 45% à 13,3% en ligne avec la littérature.
Underlying
PHAXIAM THERAPEUTICS

Erytech Pharma is a pharmaceutical company based in France. Co. is primarily engaged in developing cancer therapies that work by starving tumors. Co.'s first product (ERY-ASP), which is in phase III development, provides a therapeutic solution to frail patients with acute leukemia. Co.'s proprietary technology is based on encapsulation of therapeutic molecules into red blood cells. Co. maintains a production unit located in Lyons with "Pharmaceutical Establishment" status. Co. has also signed two distribution partnership agreements with the Orphan Europe-Recordati company and the TEVA group.

Provider
Invest Securities
Invest Securities

Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.

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Analysts
Martial Descoutures

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