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.
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