Biophytis (NASDAQ:BPTS) released positive results from the post-hoc analysis of phase 2-3 trial of its drug Sarconeos, reflecting the reduced risk of early death or respiratory failure in patients with COVID-19.
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Following the news, BPTS stock rallied over 42% in Thursday’s pre-market trading session.
As per the company, a 45% drop was witnessed in the risk of early death or respiratory failure at day 28 in the Intent-To-Treat (ITT) population, and a reduction of 53% was noted in the Per Protocol (PP) population. Also, the risk of death at day 90 declined by 43% in the ITT population and 70% in the PP population.
Regarding its regulatory developments, CEO Stanislas Veillet said, “We will start sharing these results in the coming months with regulatory agencies and health authorities, particularly in Europe, the US and Brazil. The aim is to file for conditional marketing authorisation (Europe) and emergency use authorization (USA, Brazil) as soon as possible in 2023.”
The France-based biotechnology company develops medicines for diseases related to degenerative processes associated with aging and improves functional outcomes for patients suffering from age-related diseases.
What is the Target price for BPTS Stock?
The average BPTS stock price target of $15 implies significant upside potential. The stock has a Moderate Buy consensus rating based on one Buy review.
