Biophytis extends cash runway to Q1 2027 on €3m
Biophytis SA (BPTSY) reports that recent financing actions have strengthened its cash position and extended its cash runway into the first quarter of 2027.
Rhea-AI Filing Summary
Biophytis SA (BPTSY) reports that recent financing actions have strengthened its cash position and extended its cash runway into the first quarter of 2027. Gross cash inflows of €3.7 million came mainly from the exercise of 2026 share warrants and drawdowns on a Hexagon bond facility, leading to cash of €3.0 million as of August 31, 2026 (pro forma, unaudited).
The company reduced financial debt by more than 30% via €1.4 million of debt-to-equity conversions, bringing financial debt down from €4.27 million at December 31, 2025 to €2.90 million at August 31, 2026. These transactions resulted in the issuance of tens of millions of new shares and an estimated total of about 240 million shares outstanding.
Biophytis plans to use available cash and existing financing instruments to finalize preparations for its Phase 2 OBA obesity study, expected to start in the first quarter of 2027, and to support a Hong Kong joint venture preparing a Phase 3 SARA sarcopenia study in China while funding operations into the same period.
Positive
- Cash position increased to €3.0 million with runway extended into Q1 2027, supported by €3.7 million gross inflows.
- Financial debt reduced by over 30%, from €4.27 million to €2.90 million, via €1.37 million of debt-to-equity conversion.
- Majority of 2026 warrants exercised, generating around €2.48 million in cash and 64,485,321 new shares.
- Funding in place to initiate Phase 2 OBA obesity study and support preparation of Phase 3 SARA sarcopenia study.
Negative
- Equity financing and debt-to-equity conversions issued over 96 million new shares, increasing outstanding shares to about 240 million and implying significant dilution.
- Despite progress, Biophytis still carries €2.90 million in financial debt as of August 31, 2026.
Filing Explained
The filing records 64 485 321 warrant exercises, 23 045 985 warrants remaining, and 32 395 638 shares issued through debt conversion.
As of
Separately, the debt-to-equity conversion disclosed in the filing issued 32 395 638 shares. The two disclosures therefore identify share issuance through both exercised warrants and debt conversion, rather than describing only a possible future issuance.
Key Figures
Key Terms
debt-to-equity conversion financial
Hexagon bond financing facility financial
Phase 2 OBA clinical study medical
Phase 3 SARA study medical
sarcopenia medical
FAQ
How much cash does Biophytis (BPTSY) have after its recent financing actions?
How far does Biophytis (BPTSY) say its cash runway now extends?
What impact did warrant exercises have on Biophytis (BPTSY)?
How much has Biophytis (BPTSY) reduced its financial debt?
What upcoming clinical trials does Biophytis (BPTSY) plan to fund with this cash?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Date of report: August 31, 2026
Commission File Number: 001-38974
BIOPHYTIS S.A.
(Translation of registrant’s name into English)
Stanislas Veillet
Biophytis S.A.
Silver Innov
54 rue Molière
94200 Ivry sur Seine, France
+33 1 76 28 40 83
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
x Form 20-F ¨ Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
On August 31, 2026, Biophytis S.A. issued a press release announcing that it strengthens its cash position and extends its cash runway into Q1 2027. A copy of the press release is attached as Exhibit 99.1 to this Form 6-K.
EXHIBIT LIST
| Exhibit | Description | |
| 99.1 | Press Release dated August 31, 2026. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| BIOPHYTIS S.A. | ||
| Date: August 31, 2026 | By: | /s/ Stanislas Veillet |
| Name: Stanislas Veillet | ||
| Title: Chairman and Chief Executive Officer | ||
Exhibit 99.1
Biophytis strengthens its financial position and extends its cash runway into Q1 2027
| · | Cash position strengthened to €3.0 million | |
| · | Most 2026 share warrants exercised | |
| · | Phase 2 study in obesity to start in Q1 2027 | |
| · | Hong-Kong JV to start operations for preparing Phase 3 study in sarcopenia |
Paris (France) and Cambridge (Massachusetts, U.S.), August 31, 2026, at 07:00am CET – Biophytis SA (Euronext Growth Paris: ALBPS), (“Biophytis” or the “Company”), a pioneering company in the development of transformative therapies impacting longevity, today provides an update on its cash position and the actions undertaken to strengthen its financial structure.
Over the past few months, the Company has continued to implement its financial restructuring strategy, combining the mobilization of new resources primarily from the exercise of the 2026 warrants (BSA 2026) and the reduction of its financial debt through debt-to-equity conversion. These actions now make it possible to improve Biophytis's financial visibility and extend its cash runway into the first quarter of 2027.
A cash runway extended into the first quarter of 2027
The Company's cash position has been strengthened. Gross cash inflows amounted to €3.7 million, driven by the exercise of the large majority of the 2026 warrants, which generated proceeds of €2.5 million, and by drawdowns on the Hexagon bond financing facility totaling €1.2 million gross. Taking into account operating cash outflows of €0.7 million, cash stood at €3.0 million* as of August 31, 2026.
| Change in Share Warrants (as of August 31, 2026) | |||||
| Initial
position (03/11/26) |
Number
of warrants exercised |
Number
of warrants remaining |
Exercise
price (€) |
Total
cash received (M€) |
Number
of shares issued |
| 87 531 306* | 64 485 321* | 23 045 985* | 0.0385* | 2.48 €* | 64 485 321* |
A reduction in financial debt of more than 30%
Financial debt was reduced through debt-to-equity conversion totaling €1.4 million*. The Company's financial debt stood at €2.9 million* as of August 31, 2026, compared with €4.3 million as of December 31, 2025, representing a debt reduction of more than 30%.
| Financial
debt as of 12/31/2025 (M€) |
Debt
converted into equity (M€) |
Financial
debt as of 08/31/2026 (M€)* |
Number
of shares issued |
| 4.27* | 1.37* | 2.90* | 32 395 638* |
*Estimated, pro forma and unaudited figures
These transactions are accompanied by a change in the number of shares outstanding, which reach approximately 240 million by August 31, 2026.
Initiation of the OBA clinical study in obesity
The available cash, combined with existing financing instruments, will be used to finalize preparation for the phase 2 OBA clinical study in obesity, to be initiated in the first quarter of 2027, to support the structuring
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of the joint venture in Asia - in particular, to obtain regulatory authorization to launch the phase 3 SARA study in sarcopenia in China - and, finally, to cover its operating needs into the first quarter of 2027.
*The Company indicates that the figures as of August 31, 2026 are pro forma and unaudited data.
***
About BIOPHYTIS
Biophytis SA is a clinical-stage biotechnology company focused on developing drug candidates for age-related diseases. BIO101 (20-hydroxyecdysone), our lead drug candidate, is a small molecule in development for muscular diseases (sarcopenia, Phase 3 ready to start) and metabolic disorders (obesity, Phase 2 ready to start). The company is headquartered in Paris, France, with subsidiaries in Cambridge, Massachusetts, USA, and Brazil. The Company’s ordinary shares are listed on Euronext Growth Paris (ALBPS - FR001400OLP5) and its ADS (American Depositary Shares) are listed on the OTC market (BPTSY - US 09076G401). For more information, visit www.biophytis.com.
Disclaimer
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are based on assumptions that Biophytis considers to be reasonable. However, there can be no assurance that the statements contained in such forward-looking statements will be verified, which are subject to various risks and uncertainties. The forward- looking statements contained in this press release are also subject to risks not yet known to Biophytis or not currently considered material by Biophytis. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Please also refer to the "Risk and uncertainties the Company is to face" section from the Company’s 2023 Financial Report available on BIOPHYTIS website (www.biophytis.com) and as exposed in the "Risk Factors" section of form 20-F as well as other forms filed with the SEC (Securities and Exchange Commission, USA).
We undertake no obligation to publicly update or review any forward-looking statement, whether because of new information or otherwise, except as required by law.
Biophytis Contacts
Investor Relations
Investors@biophytis.com
Media contacts
Antoine Denry: antoine.denry@taddeo.fr – +33 6 18 07 83 27
Nizar Berrada: nizar.berrada@taddeo.fr – +33 6 38 31 90 50
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