Why Erytech Pharma Are Shares Moving Higher Today

Erytech Pharma SA ERYP has sold its US manufacturing facility to Catalent Inc CTLT for $44.5 million.
Catalent will acquire Erytech's commercial-scale cell therapy manufacturing facility in Princeton, New Jersey, with 40 people.
The companies will also enter into a long-term supply agreement. Catalent will manufacture Erytech's lead product candidate, eryaspase (Graspa), for clinical and commercial supply in the U.S.
Also Read: Why Erytech Pharma Shares Are Rising Today
"Erytech will now further focus capital resources on developing potentially transformative therapeutics for serious diseases. We are also evaluating further strategic options for the company, including additional partnerships and addition of complementary assets, through which we can leverage our ERYCAPS platform and our development and manufacturing capabilities," said Gil Beyen, CEO of Erytech.
Erytech has a Phase 1 trial in first-line pancreatic cancer ongoing in the U.S.
It is in a dialogue with the FDA regarding a potential marketing application submission in hypersensitive ALL, targeted in Q3 2022.
Catalent intends to expand the 30,900 sqft Princeton site to manufacture a broader portfolio of cell therapies.
ERYTECH will retain its manufacturing site in Lyon, France, for cell therapy manufacturing.
Price Action: ERYP shares surged 57.40% at $1.92 during the premarket session on Monday's last check.