Tyme Tech surges on news of cancer candidate SM-88 deal with Eagle

Emerging US biotech Tyme Technologies (Nasdaq: TYME) saw its shares leap 13.6% to $1.75 in unusually heavy volume, on news of a potential $40 million deal with Eagle Pharmaceuticals (Nasdaq: EGRX) focused on the co-promotion of Tyme's lead CMBT candidate oral SM-88 in advanced cancers.

CMBTs are proprietary investigational compounds that are believed to disrupt cancer cells’ protein synthesis, leading to a breakdown of the cancer’s key defenses and cell death. In clinical trials, oral SM-88 has demonstrated complete or partial responses across 15 different cancers, including pancreatic, prostate, sarcoma, breast, lung, and blood cancers with minimal serious grade 3 or higher adverse events.

“Tyme’s approach is unique and transformational. Targeting cancer’s metabolism by disrupting protein synthesis has advantages over existing treatment approaches in terms of both efficacy and safety,” said Scott Tarriff, chief executive of Eagle Pharmaceuticals. “This collaboration provides an excellent opportunity to continue expanding our presence in the oncology space, as well as to evaluate potential combination opportunities with SM-88 in our existing pipeline. We look forward to leveraging our oncology sales infrastructure to maximize the commercialization of SM-88 in the US, if approved. As always, our goal remains to deliver innovative, next-generation therapeutics to address patient needs and to create value for our shareholders,” concluded Mr Tarriff.