Shares of Phaxiam Therapeutics S.A. (PHXM) gained over 23% on Tuesday morning after the company announced that it extended its phage portfolio to Klebsiella pneumoniae, a new resistant and aggressive bacterial target.
PHXM is currently trading at $4.9245, up $0.9245 or 23.11%, on the Nasdaq. The stock opened its trading at $5.3900 after closing Monday's trading at $4.0000. The stock has traded between $3.0000 and $14.0000 in the past 52-week period.
Phaxiam Therapeutics announced the launch of a new preclinical development targeting a strong antimicrobial-resistant bacteria, Klebsiella pneumonia.
Klebsiella pneumoniae causes a wide range of infections, including pneumonia, urinary tract infections, bacteremia and liver abscesses, and mainly infects immunocompromised people. However, the emergence and spread of hypervirulent and multi-resistant strains of this bacterium have recently extended its potential targets to people with no health problems.
CEO Thibaut du Fayet said, "With the launch of this new program, PHAXIAM Therapeutics deploys its strategy in line with the plan presented during the merger, and reaffirms its position at the forefront of the fight against antimicrobial resistance. K. pneumoniae bacteria represents a new target with a high medical need, affecting a large population worldwide, and for which antibiotics offer only a limited therapeutic solution. Our anti-Klebsiella phages will thus complement an already extended phage portfolio for the clinical indications we are targeting, and reinforce our ability to efficiently address a broad spectrum of resistant bacterial infections."
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