Erytech Pharma SA's (ERYP) American Depository Receipts plunged 29% to $19.81 in premarket trading on Friday, Dec. 8, after the Lyon, France-based firm said its Phase 2 study of eryaspase (Graspa) in acute myeloid leukemia did not achieve its primary endpoint of overall survival.
"Although clearly disappointing, these results do not change our commitment to the development of the eryaspase product candidate," said Erytech chairman and CEO Gil Beyen in the announcement. "Eryaspase has shown positive safety and efficacy results in the treatment of pancreatic cancer and acute lymphoblastic leukemia and we remain committed to bringing this treatment option to patients in these and potential other indications."
Among the other biotech movers was Radius Health Inc. (RDUS) . Shares rose 7.3% to $29.40 after the Waltham, Mass.-based firm on Thursday gave an update on data from the Phase 1 study of elacestrant (RAD1901) in patients with estrogen receptor positive (ER+) breast cancer. The data presentation took place at the 2017 San Antonio Breast Cancer Symposium.
"It is quite encouraging to see the clinical activity with elacestrant in the heavily pretreated advanced patient population, and further therapeutic development is warranted for patients with hormone receptor positive breast cancer", said Dr. Aditya Bardia, assistant professor at Harvard Medical School and attending physician at Massachusetts General Hospital, in a statement.
Meanwhile, shares of Gilead Sciences Inc. (GILD) were up 0.9% to $73.37 on the heels of its deal to purchase Cell Design Labs Inc., an Emeryville, Calif.-based biotechnology firm developing chimeric antigen receptor T cell (CAR-T) and T cell receptor therapies, for up to about $567 million.
In an announcement after the market close on Thursday, Gilead said it will acquire all the outstanding shares of Cell Design Labs, including the approximately 12.2% stake held by Kite .
Foster City, Calif.-based Gilead acquired Kite for about $11.9 billion in a deal completed in October.