Micro Cap Bid Up Right Before Opening Bell

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, May 9, 2023

A French biotech company is making some major waves so far during Tuesday’s session after it was announced that the company and Pherecydes intend to merge their operations and relocate all teams to the company’s Lyon location. The merger is set to close shortly after approval by shareholders.

This caused traders to bid up shares of Erytech Pharma SA (Nasdaq:ERYP) as shares are currently bid at $1.12/share (+40.00% implied open for sellers) at the time of writing. It should be an exciting session for this micro cap!

Erytech Pharma SA is a clinical-stage biopharmaceutical company developing innovative therapies for severe forms of cancer and orphan diseases. Its ERYCAPS platform, uses a novel technology to encapsulate therapeutic drug substances inside erythrocytes, or red blood cells, or RBC. It is developing a pipeline of product candidates for patients with high unmet medical needs. Its lead product candidate eryaspase, also referred as GRASPA, targets the metabolism of cancer cells by depriving the cells of asparagine, an amino acid necessary for their survival and critical in maintaining the cells' rapid growth rate.

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