Earnings Release • Jul 18, 2013
Earnings Release
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Lyon (France), 18 June 2013 – ERYTECH (NYSE Euronext Paris : FR0011471135 - ERYP), a French biopharmaceutical company that develops innovative treatments for acute leukemia and other oncology indications with unmet medical needs, announced today its cash position and its revenues for the second quarter of 2013.
On June 30 2013, ERYTECH's cash and cash equivalents amounted to € 18.6 million. As a reminder, ERYTECH raised € 16.7 million in its successful initial public offering in April of this year. During this quarter, ERYTECH did not report any income from activities.
These results are in line with the expectations and demonstrate a sound operational cash management in the context of intensive clinical development efforts.
During the second quarter of 2013, ERYTECH has continued to focus on the Phase III study for GRASPA® in Acute Lymphoblastic Leukemia (ALL) all in ensuring a rapid take-off of its Phase IIb study in Acute Myeloid Leukemia (AML) in Europe and launching a clinical study in ALL in the United States.
GRASPA®, the company's lead product, is an innovative asparaginase based therapy for the treatment of acute leukemia and certain solid tumors. The product is partnered to Orphan Europe (Recordati Group), a major actor in orphan diseases, in Europe, and to TEVA in Israël for acute leukemia.
« During this year 2013, our strategy is fully focused on advancing our clinical development programs, with respect for the timelines we set and a rigourous cash management. Having given us the opportunity to raise more funds than anticipated, our IPO is enabling us to advance the development of our innovative products under optimal conditions. », comments Gil Beyen, Chairman and CEO of ERYTECH.
- H1 2013 results: Wednesday, August 28, 2013 (after market)
Created in Lyon in 2004, ERYTECH is a French biopharmaceuticals company that opens new prospects for cancer patients, particularly those with acute leukaemia. By encapsulating the asparaginase enzyme in red blood cells, ERYTECH has developed GRASPA®, an original and effective treatment that targets cancer cells through "starvation" while significantly reducing the side effects for patients. GRASPA® is currently completing Phase III clinical development in Acute Lymphoblastic Leukemia (ALL) and is in Phase IIb clinical trial in Acute Myeloid Leukemia (AML). ERYTECH has concluded distribution partnership agreements for Europe with Orphan Europe (Recordati group), and with TEVA for Israël. In the United States, ERYTECH is launching a Phase Ib clinical trial in ALL, after having received approval from the US FDA. The company has its own GMP approved and operational manufacturing site.
ERYTECH is listed on NYSE Euronext regulated market in Paris. (Code ISIN : FR0011471135, mnémo : ERYP) and is part of CAC Healthcare, CAC Pharm. & Bio et Next Biotech indexes.
Gil Beyen Chairman and CEO Pierre-Olivier Goineau Vice President and COO Tel : +33 4 78 74 44 38 [email protected] NewCap.
Investor and press relations Julien Perez / Emmanuel Huynh Tél : +33 1 44 71 98 52 [email protected]
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