'Meme stock' Orphazyme keeps falling post FDA review

Strategic Partners A/S

21/06/2021 10:22

** Shares of Danish biopharma company Orphazyme A/S
 ORPHA.CO  fall 13% in morning trade, wiping off further DKK 260
million ($41.57 million) of it's market cap 
    ** The stock extends losses from Friday, when U.S. FDA
issued a Complete Response Letter requesting additional evidence
for effectiveness of the company's lead drug candidate
arimoclomol  urn:newsml:reuters.com:*:nL5N2O0110
    ** Nordnet analyst Per Hansen says Orphazyme will need more
money regardless what negotiations with European and American
authorities end up with
    ** He names three options the company could consider -
looking for a partner, trying to sell the project or, as long as
"meme" stock speculation continues, pursue capital increase at a
higher price
    ** Oprhazyme became a so called 'meme stock' in the course
of last two weeks, seesawing significantly in Danish and U.S.
trade  urn:newsml:reuters.com:*:nL3N2NT33L,  urn:newsml:reuters.com:*:nL5N2NZ1JU,  urn:newsml:reuters.com:*:nL3N2NY3OL





($1 = 6.2549 Danish crowns)

 ((Tommyalexander.lund@thomsonreuters.com))