(News Bulletin 247) – Pherecydes Pharma fell on the Paris Stock Exchange on Monday following the presentation of the latest developments in its next-generation phagogram, an in vitro diagnostic test for studying the sensitivity of bacteria more resistant.

The biotech company unveiled at the European Congress of Clinical Microbiology and Infectious Diseases (ECCMID) – held in Copenhagen – an analytical performance protocol demonstrating compliance of its tool with regulatory requirements.

If no protocol currently exists in the case of phages due to the lack of clear definition of development principles, the company says it has developed and validated an analytical performance plan in accordance with European directives.

The components of its Phagogramme 1.5 have thus been tested via the use of anti-staphylococus aureus phages and the performance plan has been shown to be perfectly applicable in this configuration, assures the company.

This announcement comes in the wake of a favorable trajectory for the stock, which recently benefited from the initiation of coverage by TP ICAP Midcap, a brokerage firm and investment bank specializing in small and mid-caps.

In its study published on April 6, TP ICAP Midcap began monitoring the stock with a buy recommendation with a target price of 6.2 euros per share.

Founded in 2006, Pherecydes Pharma has developed an innovative approach, precision phage therapy, based on the use of phages, natural viruses that kill bacteria.

Pherecydes Pharma announced last February its proposed merger with Erytech, another biotechnology company listed on the Paris Stock Exchange.

After having climbed 7% at the opening, the stock fell 1.5% as midday approached.

Copyright (c) 2023 News Bulletin 247. All rights reserved.