Erytech Pharma S.A.

ERYTECH Provides Business Update and Reports Financial Results for the Third Quarter of 2020

ERYTECH Provides Business Update and Reports Financial Results for the Third Quarter of 2020

Conference call and webcast on Friday, November 6 at 2:30 pm CET/8:30 am ET

LYON, France and CAMBRIDGE, Mass., Nov. 05, 2020 (GLOBE NEWSWIRE) -- ERYTECH Pharma (Nasdaq & Euronext: ERYP),a clinical-stage biopharmaceutical company developing innovative therapies by encapsulating therapeutic drug substances inside red blood cells, today provided a business and financial update.

“The third quarter was marked by continued momentum and strong execution across our late-stage clinical programs despi t e the ongoing COVID-19 global pandemic , said Gil Beyen, CEO of ERYTECH Pharma. TRYbeCA-1, our Phase 3 trial in 2L pancreatic cancer, ha s nearly complete d enrollment and the NOPHO -sponsored Phase 2 trial in acute lymphoblastic leukemia (ALL) achieved full enroll ment in August. As we look towards the balance of the year and into 2021 , we are keenly focused on continued milestone execution in all of our clinical program s , but specifically the interim and final read outs in TRYbeCA-1 and the final data in the NOPHO Phase 2 clinical trial . If both are favorable , we would have the opportunity to prepare and submit applications for marketing approval in two indications of high unmet need. I am also pleased to report that we have secured financing alternatives despite the turbulent market conditions. Collectively, the recently secured state -guaranteed loan, the closing of a convertible debt financing , and the establishment of an ATM equity facility , give us the opportunity to extend our cash horizon until the end of next year .

Business Highlights

Financial Results for the first nine months of 2020

In thousands of euros   3Q 2020
( 9 months)
3Q 2019
( 9 months)
Revenues    —    —  
Other income   2,890   3,881  
Total operating income   2,890   3,881  
Research and development   (42,940 ) (36,977 )
General and administrative   (11,448 ) (13,743 )
Total operating expenses   (54,389 ) (50,720 )
Total operating loss   (51,499 ) (46,839 )
Financial income   573   3,975  
Financial expenses   (2,625 ) (392 )
Financial income, net   (2,052 ) 3,582  
Loss before tax   (5 3 ,551 ) (43 ,257 )
Income tax   (2 ) 1  
Net loss   (5 3 ,553 ) (43,256 )

Key News Flow and Milestones Expected Over the Next 12 Months

Conference Call Details

ERYTECH management will hold a conference call and webcast on Friday November 6, 2020 at 02:30pm CEST / 08:30am ET on the business and financial highlights for the quarter and nine months ended September 30, 2020. Gil Beyen, CEO, Eric Soyer, CFO/COO, and Iman El-Hariry, CMO, will deliver a brief presentation, followed by a Q&A session.

The call is accessible via the below teleconferencing numbers, followed by the Conference ID#: 2943988#
USA/Canada: +1 (833) 818-6807 France: +33 1 70 80 71 53 
International Dial-In Number: +1 (409) 350-3501 United-Kingdom: +44 2031070289

The webcast can be followed live online via the link: https://edge.media-server.com/mmc/p/cm8pkxrh

An archived replay of the call will be available for 7 days by dialing + 1 855 859 2056, Conference ID: 2943988#.
An archive of the webcast will be available on ERYTECH’s website, under the “Investors” section at investors.erytech.com

Financial Calendar 2021

ERYTECH will Present at the Following Upcoming Investor Conferences:        

About ERYTECH and eryaspase

ERYTECH is a clinical-stage biopharmaceutical company developing innovative red blood cell-based therapeutics for severe forms of cancer and orphan diseases. Leveraging its proprietary ERYCAPS® platform, which uses a novel technology to encapsulate drug substances inside red blood cells, ERYTECH is developing a pipeline of product candidates for patients with high unmet medical needs. ERYTECH’s primary focus is on the development of product candidates that target the altered metabolism of cancer cells by depriving them of amino acids necessary for their growth and survival.

The Company’s lead product candidate, eryaspase, which consists of L-asparaginase encapsulated inside donor-derived red blood cells, targets the cancer cells’ altered asparagine and glutamine metabolism. Eryaspase is in Phase 3 clinical development for the treatment of second-line pancreatic cancer and in Phase 2 for the treatment of first-line triple-negative breast cancer. An investigator-sponsored Phase 2 study in acute lymphoblastic leukemia is ongoing in the Nordic countries of Europe.

ERYTECH produces its product candidates for treatment of patients in Europe at its GMP-approved manufacturing site in Lyon, France, and for patients in the United States at its GMP manufacturing site in Princeton, New Jersey, USA.

ERYTECH is listed on the Nasdaq Global Select Market in the United States (ticker: ERYP) and on the Euronext regulated market in Paris (ISIN code: FR0011471135, ticker: ERYP). ERYTECH is part of the CAC Healthcare, CAC Pharma & Bio, CAC Mid & Small, CAC All Tradable, EnterNext PEA-PME 150 and Next Biotech indexes.        
For more information, please visit www.erytech.com        

Forward-looking information

This press release contains forward-looking statements including but not limited to statements with respect to the clinical development plans of the Company’s product candidates including the timing and progress of the interim superiority analysis, the impact of the COVID-19 pandemic on the Company’s and the extension of the Company’s anticipated cash runway to the end of 2021. Certain of these statements, forecasts and estimates can be recognized by the use of words such as, without limitation, “believes”, “anticipates”, “expects”, “intends”,“plans”, “seeks”, “estimates”, “may”, “will” and “continue” and similar expressions. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable when made but may or may not prove to be correct. Actual events are difficult to predict and may depend upon factors that are beyond ERYTECH's control. There can be no guarantees with respect to pipeline product candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. Therefore, actual results and timeline may turn out to be materially different from the anticipated future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Further description of these risks, uncertainties and other risks can be found in the Company’s regulatory filings with the French Autorité des Marchés Financiers (AMF), the Company’s Securities and Exchange Commission (SEC) filings and reports, including in the Company’s 2019 Document d’Enregistrement Universel filed with the AMF on March 18, 2020, in the half-year report for the six-month period ended June 30, 2020 published on September 21, 2020 and in the Company’s Annual Report on Form 20-F filed with the SEC on March 18, 2020 and future filings and reports by the Company. Given these uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of this press release. Readers are cautioned not to place undue reliance on any of these forward-looking statements. ERYTECH disclaims any obligation to update any such forward-looking statement, forecast or estimates to reflect any change in ERYTECH’s expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement, forecast or estimate is based, except to the extent required by law. In addition, the COVID-19 pandemic and the associated containment efforts have had a serious adverse impact on the economy, the severity and duration of which are uncertain. Government stabilization efforts will only partially mitigate the consequences. The extent and duration of the impact on the Company’s business and operations is highly uncertain, and that impact includes effects on its clinical trial operations and supply chain. Factors that will influence the impact on the Company’s business and operations include the duration and extent of the pandemic, the extent of imposed or recommended containment and mitigation measures, and the general economic consequences of the pandemic. The pandemic could have a material adverse impact on the Company’s business, operations and financial results for an extended period of time.

CONTACTS

ERYTECH                     
Eric Soyer
CFO & COO
LifeSci Advisors, LLC
Investor Relations
Corey Davis, Ph.D.

NewCap
Mathilde Bohin /
Louis-Victor Delouvrier
Investor relations
Nicolas Merigeau
Media relations

+33 4 78 74 44 38
[email protected]

+1 (212) 915 - 2577
[email protected]

+33 1 44 71 94 94  
[email protected]

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