Pieris Pharma leaps on news of restructuring

18 July 2023
pieris-large

Boston, USA-based clinical-stage biotech Pieris Pharmaceuticals (Nasdaq: PIRS) saw its shares surge as much as 70%, and still up 27% at $0.24 mid-morning, after it provided a strategic update following recent events that have impacted its inhaled respiratory franchise.

This includes AstraZeneca's (LSE: AZN) recent decision to discontinue enrollment of the Phase a study for elarekibep. AstraZeneca has now informed the company of its decision to terminate their 2017 R&D collaboration agreement and hand back elarekibep along with discontinuing the remaining discovery program.

Pieris' management and board of directors have assessed several strategic options, which will include focusing on execution of new or expanded partnerships to advance its therapeutic programs, including cinrebafusp alfa (PRS-343), PRS-220 and PRS-400.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology