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ERYTECH Pharma has entered into an agreement to issue convertible notes worth up to EUR 60 million to the European High Growth Opportunities Securitization Fund. The notes are set to provide EUR 30 million in capital initially, with a potential dilution of up to 20% for existing shareholders. This financing aims to extend ERYTECH's cash runway as it approaches key clinical milestones. The financing structure includes zero-coupon notes and share warrants with an exercise price reflecting a 20% premium over the lowest share price leading up to the first tranche's issuance.
On June 9, 2020, ERYP announced its latest share capital updates filed with the French Autorité des Marchés Financiers. As of May 30, 2020, total shares composing the share capital remain at 17,940,035 with total gross voting rights at 19,489,410 and net voting rights at 19,486,910. This data reflects a minor decrease in the total voting rights compared to previous months. ERYP is listed on Euronext Paris and Nasdaq Global Select Market, symbol ERYP.
ERYTECH Pharma (Nasdaq & Euronext: ERYP) has completed patient enrollment for its Phase 2 trial of eryaspase in pediatric patients with acute lymphoblastic leukemia (ALL) who are hypersensitive to pegylated asparaginase. The trial, supported by the Nordic Society of Paediatric Haematology and Oncology, has enrolled 50 patients across 22 clinical sites. Preliminary data indicate that eryaspase successfully maintains asparaginase activity and has a favorable tolerability profile, addressing an unmet medical need recognized by the FDA. Full trial results are expected at a future medical congress.
Erytech Pharma has announced that its Combined Shareholders’ Meeting will occur on June 26, 2020, at 2 PM CEST, in a closed session, complying with French legislation.
Shareholders are encouraged to vote remotely due to health guidelines. Voting procedures differ for registered and bearer shares, with a deadline for document submission set for June 23. Live streaming of the meeting will be available, and written questions must be sent by June 22. Relevant documents can be accessed on the company’s website.
On May 7, 2020, ERYP reported key voting rights data for shareholders as of April 30, 2020. The company holds a total of 17,940,035 shares in capital with gross voting rights totaling 19,536,806. This represents a slight increase in gross voting rights compared to the previous month. The net voting rights stood at 19,534,306. The data is crucial for investors as it reflects the overall share structure and governance of the company listed on Euronext Paris and Nasdaq Global Select Market.
ERYTECH Pharma (Nasdaq & Euronext: ERYP) provided a business update on May 6, 2020, announcing significant progress in its clinical trials. Over 75% of the 500 patients have been enrolled in the TRYbeCA-1 Phase 3 trial for second-line metastatic pancreatic cancer, which received Fast Track designation from the FDA. The company reported a cash position of €58.6 million ($64.6 million) at the end of Q1 2020. An interim superiority analysis is expected by year-end 2020, with final results anticipated in 2H 2021. The company remains focused on ensuring patient access during the COVID-19 pandemic.
ERYTECH Pharma (Nasdaq: ERYP), a biopharmaceutical company, is joining the EVIDENCE consortium, backed by a €4 million grant from the European Union's Horizon 2020 program. This consortium aims to enhance understanding of red blood cells' interactions with their environment to improve red blood cell-based therapies. The research will involve 12 beneficiaries and 11 partner organizations, led by Professor Lars Kaestner. ERYTECH is focused on its lead product candidate, eryaspase, currently in late-stage clinical trials for various cancers.
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