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ERYTECH Reports Cash Balance at End of Q1 2021 and Announces the Details of its 2021 Q1 conference call

Nachrichtenquelle: globenewswire
29.04.2021, 01:30  |  134   |   |   

ERYTECH Reports Cash Balance at End of Q1 2021
and Announces the Details
of its 2021 Q1 conference call

Publication of Q1 2021 results on 4 May 2021 after market close


Lyon (France) and Cambridge, MA (U.S.), April 29, 2021 ERYTECH Pharma (Nasdaq & Euronext: ERYP), a clinical-stage biopharmaceutical company developing innovative therapies by encapsulating therapeutic drug substances inside red blood cells, today announced its cash position at the end of the first quarter 2021 and that it will host its 2021 first quarter conference call and webcast on Wednesday, May 5, 2021, at 2:30 PM CEST/8:30 AM EST to discuss operational highlights.

Update on Q1 2021 Cash position

As of March 31, 2021, ERYTECH had cash and cash equivalents totaling €37.4 million (approximately $43.9 million), compared with €44.4 million on December 31, 2020. The €7.0 million decrease in cash position during the first quarter of 2021 was the result of a €7.6 million net cash utilization, which was mostly comprised of a €16.3 million net cash utilization in operating activities, €0.1 million used for investing activities and €8.8 million generated in financing activities, while the variation of the U.S. dollar against the euro led to a €0.6 million positive currency exchange impact.

The Company believes that its current cash position can fund its planned operating expenses and current programs into the fourth quarter of 2021, and together with the remaining option of potential proceeds available under the convertible bonds financing agreement, into the first quarter of 2022.

Conference call details on 2021 Q1 results and operational highlights

ERYTECH management will hold a conference call and webcast on Wednesday May 5, 2020 at 02:30pm CEST / 08:30am EST on the business and financial highlights for the quarter ended March 31, 2021. 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#: 3887923#

USA/Canada: +1 (833) 818-6807                                France: +33 1 70 80 71 53        

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ERYTECH Reports Cash Balance at End of Q1 2021 and Announces the Details of its 2021 Q1 conference call ERYTECH Reports Cash Balance at End of Q1 2021 and Announces the Details of its 2021 Q1 conference call Publication of Q1 2021 results on 4 May 2021 after market close Lyon (France) and Cambridge, MA (U.S.), April 29, 2021 – ERYTECH Pharma …

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