Biophytis SA American Depositary Share (0.01 Euro) Stock Price, News & Analysis

Biophytis SA (NASDAQ:BPTS) has announced that it has regained compliance with the Nasdaq Global Select Market minimum bid price requirement. This follows a Notification Letter from Nasdaq dated April 14, 2022, confirming that for 10 consecutive business days ending April 13, 2023, Biophytis' American Depositary Shares closed at $1.00 or greater. Previously, on October 20, 2022, the company had been notified that it no longer met the Nasdaq Listing Rule due to a closing bid price of less than $1.00. Biophytis is focused on developing therapeutics for age-related diseases, including severe respiratory issues in COVID-19 patients, with its lead candidate being Sarconeos (BIO101), currently in a Phase 2 trial. The company's shares are traded on both Nasdaq and Euronext Growth.

Biophytis (BPTS) reported significant milestones in its press release dated April 18, 2023. The company disclosed €11.1 million in cash as of December 31, 2022, and a total of €22 million in financing instruments, ensuring operational visibility beyond mid-2024. The Phase 2-3 COVA study demonstrated a 44% reduction in the risk of respiratory failure or early death in patients treated with Sarconeos (BIO101) for severe COVID-19. Biophytis plans to submit an Early Access Program in France by June 2023 and prepare for conditional marketing authorization in the US and Europe. The company aims to start generating revenue from the Early Access Program in the latter half of 2023.

Biophytis (Nasdaq: BPTS) announced the successful adoption of 18 resolutions during its Combined General Meeting, held on April 17, 2023. Shareholders mobilized to achieve a quorum exceeding 20%. Key resolutions included a reduction of the nominal share value from 0.20 euro to 0.01 euro and the renewal of authorizations to increase share capital and issue securities. The reduction of nominal value is aimed at capitalizing on losses. Following the meeting, the company's board made further decisions aligned with the approved resolutions, reinforcing Biophytis' commitment to advancing its drug candidate Sarconeos (BIO101) for age-related diseases and COVID-19 treatments. CEO Stanislas Veillet expressed gratitude towards shareholders for their support and commitment to the company's goals.

Biophytis announced that its Extraordinary General Meeting (EGM) on March 30, 2023, could not proceed due to a lack of quorum, as only 25% of shareholders were present. Consequently, all proposed resolutions were not voted on, and the meeting is adjourned. A second call for the combined AGM will take place on April 17, 2023, at 10 AM CET. The agenda remains unchanged, focusing on share nominal value reduction, share consolidation, and the renewal of previous authorizations. Votes submitted prior remain valid for this upcoming meeting. Biophytis is dedicated to developing therapeutics targeting aging-related diseases, including severe respiratory failures associated with COVID-19.

Biophytis presented Sarconeos (BIO101) as a potential treatment for long COVID at the 13th annual International Conference on Frailty and Sarcopenia Research in Toulouse, France, from March 22 to 24, 2023. The company's drug candidate, Sarconeos, showed promise in treating severe respiratory failure linked to COVID-19. During the conference, key findings from the COVA study indicated a 44% reduction in the risk of respiratory failure or early death among hospitalized patients. The company has not yet established a specific development plan for long COVID but is exploring its potential. Biophytis remains focused on therapies for age-related diseases.

Biophytis SA (NasdaqCM:BPTS) announced a Ratio Change for its American Depositary Shares (ADSs) from one ADS representing 10 ordinary shares to one ADS representing 100 shares, effective March 30, 2023. This adjustment means that record holders will exchange 10 existing ADRs for 1 new ADR. The change aims to maintain the company's listing on Nasdaq and increase visibility, although the trading price of ADSs is not guaranteed to reflect the new ratio. No new shares will be issued, and the total number of Biophytis ordinary shares remains unchanged. CEO Stanislas Veillet believes this move is beneficial for stakeholders.