Why Erytech Pharma's Stock Is Surging Higher Today

Erytech Pharma SA ERYP is surging higher Friday morning after the company announced its eryaspase was granted U.S. FDA Fast Track designation.

The Fast Track designation is for the treatment of acute lymphocytic leukemia (ALL) patients who have developed hypersensitivity reactions to E. coli-derived pegylated asparaginase.

“We believe that the FDA’s Fast Track designation for eryaspase underscores its potential to address this high unmet medical need," said Gil Beyen, CEO of Erytech Pharma.

Beyen is scheduled to speak at the BTIG Virtual Biotechnology Conference Aug. 9.

Erytech Pharma is a clinical-stage biopharmaceutical company developing innovative therapies for severe forms of cancer and orphan diseases.

Price Action: Erytech Pharma has traded as high as $13.95 and as low as $4.10 over a 52-week period. Trading was halted for volatility twice this morning.

At last check Friday, the stock was up 117.10% at $8.92.