The Biophytis SA (NASDAQ: BPTS) stock price rallied 46.6% after announcing that it would present positive data from its phase 2-3 COVA study with Sarconeos (BIO101) in severe COVID-19 at the European Respiratory Society 2023 21st Lung Science Conference being held in Estoril, Portugal.
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Investors reacted positively to the news as the conference takes place from 9th to 12th March 2023. The company is focused on developing treatments that slow down the degenerative process that occurs as people age, including severe respiratory failure in people suffering from COVID-19.
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The clinical-stage biotechnology company revealed that it would give an oral presentation titled “COVA clinical study: Results from a double-blind, placebo-controlled phase2/3 study to assess efficacy and safety of BIO101 in hospitalized severe COVID-19 patients.” The presentation would include the study results.
Biophytis promised to release a presentation poster on its website after the conference. The ERS Lung Science Conference (LSC) is an important event that brings together researchers in the respiratory field since it promotes basic and translational respiratory science. The company will be able to present the trial results to its peers.
Investors cheered the news because it shows that Biophytis is confident enough in the study results to present them to a gathering of its peers. Looking at the company’s past announcements, we can see that it received a non-compliance notice from the Nasdaq in January.
Biophytis shares are still trading below $1.00, which it should bring back above this crucial level.
Stanislas Veillet, CEO of Biophytis, said: “We are very excited to present these positive data to the scientific community. This huge success is the result of Biophytis scientific excellence and hard work of the clinical and medical teams involved in the COVA clinical study in France, Belgium, the USA and Brazil. Sarconeos (BIO101) is the only innovative drug candidate in Europe or the United States directly targeting respiratory failure that has demonstrated clinical efficacy in hospitalized patients with hypoxemia caused by COVID-19 as well as a very good safety profile. We are looking forward to the interactions with the scientists from around the world attending this conference.”
*This is not investment advice.
Biophytis (BPTS) stock price.
The Biophytis (BPTS) stock price rallied 46.58% to trade at $0.7329, from Wednesday’s closing price of $0.5000.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.