BPTS Biophytis SA

4.64
+0.05  (+1%)
Previous Close 4.59
Open 4.59
52 Week Low 4.36
52 Week High 18.5
Market Cap $59,859,364
Shares 12,900,725
Float 12,900,725
Enterprise Value $53,368,606
Volume 773
Av. Daily Volume 3,167
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Upcoming Catalysts

Drug Stage Catalyst Date
Sarconeos (BIO101) - COVA
COVID-19
Phase 2/3
Phase 2/3
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Drug Pipeline

Drug Stage Notes
Sarconeos (BIO101) - (SARA-INT)
Sarcopenia
Phase 2b
Phase 2b
Phase 2b data displayed that the highest dose (350 mg bid) showed a clinically meaningful improvement in the 400-Meter Walk Test (400MWT), the primary endpoint of the study, including in sub-populations at higher risk of mobility disability, after 6 months of treatment. Safety profile at the doses of 175 mg bid and of 350 mg bid showed no Serious Adverse Events (SAE) related to treatment, noted October 4, 2021. Phase 3 trial of 350 mg to be initiated in 2H 2022.
Sarconeos (BIO101) - MYODA
Duchenne Muscular Dystrophy
Phase 1/2
Phase 1/2
Phase 1/2 study to be initiated in 2022.
Macuneos (BIO201)
Dry Age-Related Macular Degeneration (AMD)
Phase 1
Phase 1
Phase 1 clinical trial to be initiated 2H 2021.

Latest News

  1. PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / December 22, 2021 / Biophytis SA (NASDAQ:BPTS)(PARIS:ALBPS), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19,today announces the issuance of the last 120 Bonds Redeemable in Cash and New and Existing Shares (ORNANE) for a total amount of €3 million under its existing convertible bond agreement with Atlas, a specialized investment fund based in New York (United States) for €24 million (the "2020 Atlas Contract").

    On April 7, 2020, Biophytis announced a convertible line of €24 million from Atlas. The financing instrument allows the issuance…

    PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / December 22, 2021 / Biophytis SA (NASDAQ:BPTS)(PARIS:ALBPS), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19,today announces the issuance of the last 120 Bonds Redeemable in Cash and New and Existing Shares (ORNANE) for a total amount of €3 million under its existing convertible bond agreement with Atlas, a specialized investment fund based in New York (United States) for €24 million (the "2020 Atlas Contract").

    On April 7, 2020, Biophytis announced a convertible line of €24 million from Atlas. The financing instrument allows the issuance of 960 ORNANE, at a par value of €25,000 each. The €24 million total financing were to be drawn by Biophytis over the following 3 years, through 8 successive tranches of €3 million each. This is the last drawing from this instrument.

    The Company will keep the shareholders informed of the exercise of the ORNANE issue warrants and the subsequent conversions, through a summary table of issue warrants, the ORNANE, and the number of shares in circulation, which will be available on the Company website.

    Reminder of the main characteristics of the 2020 Atlas ORNANE contract issued

    The ORNANE do not bear interest and have a 24-month maturity from issuance. The holder of ORNANE may request at any time to convert them during their maturity period, and at that time the Company will be able to redeem the ORNANE in cash. In case of cash redemption, the amount reimbursed will be limited to 115% of the principal.

    Number of securities and dilution (assumptions)

    As of December 22, 2021, based on 134,437,104 outstanding shares, assuming conversion on this day and a conversion price equal to 97% of the pricing period VWAP of €0.468 dilution is reflected as follows:

    Impact on a shareholder's 1% stake in the Company's capital prior to the transaction

    Non diluted

    Diluted

    Before issuing of new ORNANE

    Upon conversion of the ORNANE from 8 of Atlas: issuing of 6410 256 additional shares

    1.00%

    0.95%

    0.94%

    0.90%

    About BIOPHYTIS

    Biophytis SA is a clinical-stage biotechnology company specialized in the development of therapeutics that are aimed at slowing the degenerative processes associated with aging and improving functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19. Sarconeos (BIO101), our leading drug candidate, is a small molecule, administered orally, being developed as a treatment for sarcopenia in a Phase 2 clinical trial in the United States and Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3 study (COVA) for the treatment of severe respiratory manifestations of COVID-19 in Europe, Latin America, and the US. A pediatric formulation of Sarconeos (BIO101) is being developed for the treatment of Duchenne Muscular Dystrophy (DMD). The company is based in Paris, France, and Cambridge, Massachusetts. The company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN: FR0012816825) and ADSs (American Depositary Shares) are listed on Nasdaq Capital Market (Ticker BPTS - ISIN: US09076G1040). 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 2021 Half Year 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 as a result of new information, future developments or otherwise, except as required by law.

    Biophytis Contact for Investor Relations

    Evelyne Nguyen, CFO

    Media Contacts

    Antoine Denry: - +33 6 18 07 83 27
    Agathe Boggio: -+33 7 62 77 69 42

    SOURCE: Biophytis



    View source version on accesswire.com:
    https://www.accesswire.com/679217/Biophytis-Announces-the-Drawing-of-the-Last-Tranche-of-ORNANE-Under-the-2020-Atlas-Contract-for-3-Million

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    • Following Phase2b/SARA-INT clinically meaningful results, Biophytis is starting first regulatory activities to advance from Phase 2 to Phase 3 development
    • A Type B/End-of-Phase 2 meeting is planned with FDA (Food and Drug Administration) on January 24th, 2022, to discuss these results and the Phase 3 protocol design
    • Assuming potential agreement and approval from US authorities Biophytis intends to initiate its Phase 3 program in Sarcopenia in H2 2022

    PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / December 16, 2021 / Biophytis SA ((NASDAQCM:BPTS, PARIS:ALBPS), ("Biophytis" or the "company") is a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe…

    • Following Phase2b/SARA-INT clinically meaningful results, Biophytis is starting first regulatory activities to advance from Phase 2 to Phase 3 development
    • A Type B/End-of-Phase 2 meeting is planned with FDA (Food and Drug Administration) on January 24th, 2022, to discuss these results and the Phase 3 protocol design
    • Assuming potential agreement and approval from US authorities Biophytis intends to initiate its Phase 3 program in Sarcopenia in H2 2022

    PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / December 16, 2021 / Biophytis SA ((NASDAQCM:BPTS, PARIS:ALBPS), ("Biophytis" or the "company") is a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19, today announces to enter into first regulatory activities to advance Sarconeos (BIO101) development in sarcopenia from Phase 2 to Phase 3 development, with a Type B/End-of-Phase 2 meeting withFDA (Food and Drug Administration), USA, on January 24th, 2022, to discuss SARA-INT results (Phase 2b study) and the Phase 3 protocol design.

    Stanislas Veillet, CEO of Biophytis said: "With the completion of Phase 2 and the preparation of Phase 3 with US regulators, Biophytis intends to initiate its Phase 3 program in H2 2022. Sarconeos (BIO101) is the first drug candidate with the potential to enter into Phase 3 and to be approved for the treatment of Sarcopenia. We are very committed to move forward in this program to provide elderly people with a unique therapeutic solution for improving their mobility capabilities".

    SARA-INT Phase 2b study, which has evaluated Sarconeos for the treatment of sarcopenia, has demonstrated that Sarconeos (BIO101), at the highest dose (350 mg bid), showed a clinically meaningful improvement in the 400-Meter Walk Test (400MWT), the primary endpoint of the study, including in sub-populations at higher risk of mobility disability, after 6 months of treatment. In addition, Sarconeos (BIO101) showed a very good safety profile at the doses of 175 mg bid and of 350 mg bid with no difference of treatment-related Serious Adverse Events (SAE) between treatment groups.

    Biophytis is now entering into key regulatory activities to advance Sarconeos development in sarcopenia from Phase 2 to Phase 3 registrational program, with the Type-B meeting (End-of-Phase 2 meeting) with regulators to discuss Phase 2b results and Phase 3 protocol. Biophytis intends to target, in the Phase 3, similar population and endpoints which were evaluated in Phase 2. First meeting will be with FDA (Food and Drug Administration) in the USA on January 24th, 2022, with expected feedback early March 2022. Similar process is currently being organized with the EMA (European Medicine Agency); calendar will be communicated very beginning of 2022.

    Assuming potential agreement and approval from health authorities Biophytis intends to initiate its Phase 3 program in Sarcopenia in H2 2022, depending on the evolution of COVID-19 pandemic.

    ***

    About BIOPHYTIS

    Biophytis SA is a clinical-stage biotechnology company specialized in the development of therapeutics that are aimed at slowing the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19.

    Sarconeos (BIO101), our leading drug candidate, is a small molecule, administered orally, being developed as a treatment for sarcopenia with a Phase 2 clinical trial which has been performed in the United States and Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3 study (COVA) for the treatment of severe respiratory manifestations of COVID-19 in Europe, Latin America, and the US. A pediatric formulation of Sarconeos (BIO101) is being developed for the treatment of Duchenne Muscular Dystrophy (DMD).

    The company is based in Paris, France, and Cambridge, Massachusetts. The company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN: FR0012816825) and the ADS (American Depositary Shares) are listed on Nasdaq (Ticker BPTS - ISIN : US09076G1040).

    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 "Risks and uncertainties the Company is to face" section from the Company's 2021 Half Year Report available on BIOPHYTIS website ( www.biophytis.com ) and as exposed in the "Risks 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 as a result of new information, future developments or otherwise, except as required by law.

    Biophytis Contact for Investor Relations

    Evelyne Nguyen, CFO

    Media Contacts

    Antoine Denry: - +33 6 18 07 83 27
    Agathe Boggio: -+33 7 62 77 69 42

    SOURCE: Biophytis



    View source version on accesswire.com:
    https://www.accesswire.com/678013/Biophytis-to-Meet-with-FDA-to-Advance-Sarconeos-BIO101-Development-in-Sarcopenia-from-Phase-2-to-Phase-3

    View Full Article Hide Full Article
  2. PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / November 22, 2021 / Biophytis SA (NASDAQ:BPTS)(PARIS:ALBPS) (the "Company" or "Biophytis"), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19, announces today that the Company entered into a new loan structure with Kreos Capital.

    Stanislas Veillet, CEO of BIOPHYTIS, stated: "This transaction allows us to fund the final steps of our COVA phase 2-3 study in COVID-19, mostly for registration under Emergency Use Authorization with the FDA and Conditional Use with the EMA, and the manufacturing of registration batches of the Sarconeos (BIO101…

    PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / November 22, 2021 / Biophytis SA (NASDAQ:BPTS)(PARIS:ALBPS) (the "Company" or "Biophytis"), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19, announces today that the Company entered into a new loan structure with Kreos Capital.

    Stanislas Veillet, CEO of BIOPHYTIS, stated: "This transaction allows us to fund the final steps of our COVA phase 2-3 study in COVID-19, mostly for registration under Emergency Use Authorization with the FDA and Conditional Use with the EMA, and the manufacturing of registration batches of the Sarconeos (BIO101). This new financing structure with KreosCapital shows the good relationship both Parties are having since 2018."

    The €10 million total loan was concluded on November 19, 2021 and includes four tranches of respectively €2.5 million, €3.0 million, €2.5 million and €2.0 million.The two first tranches were drawn upon signing of the contract on November 19, 2021, the third tranche can be drawn up to December 31, 2021, and the last tranche can be drawn up to March 31, 2022. Besides, Kreos Capital will receive Biophytis' share warrants ("bon de souscription d'action" or "BSA") for a total of approximately €1M.

    Main characteristics of the bonds

    Over the €10M, €7.75 million will be in straight bonds, and €2.25 million will be in convertible bonds.

    Interest shall accrue on the principal moneys outstanding at a fixed interest rate of ten per cent (10.00 %) per annum for straights bonds and at a fixed interest rate of nine point five per cent (9.50 %) per annum for convertible bonds.

    The straight bonds will be repaid in 36 monthly instalments, after a deferral repayment of the nominal amount until April 2022.

    The Company shall repay the convertible bonds at their principal amount at the latest March 31, 2025, unless they are converted before into shares, at the option of Kreos Capital, at a fixed conversion price of €0,648 (except in the event that the Company distributes dividends).

    The loan is a senior unsubordinated financing. As security of its obligations, the Company has pledged certain assets, to the benefit of Kreos Capital.

    Main characteristics of the share warrants (BSAs)

    Biophytis will issue for the benefit of Kreos Capital 2218 293 share warrants (BSAs) giving the right to subscribe to new Biophytis ordinary shares, on the basis of one share for one BSA. The share warrants can be exercised over a 7-year period after being issued. The exercise price of the share warrants has been set at €0.56.

    By subscribing to the BSAs, Kreos Capital has expressly waived the right to exercise the 2018 BSAs as held following their detachment from the bonds subscribed on September 10, 2018 within the framework of the 2018 loan structure.

    Based on the non-diluted number of shares comprising the Company's social capital as of November 18, 2021 of 129073235 shares, assuming the full conversion of the convertible bonds into share, and the full exercise of shares warrants (BSA), shareholder holding 1% of the company's capital before conversion of the bonds and exercise of the BSAs, will hold 0.93% of the capital after the full conversion of the convertible bonds and full exercise of the shares warrants.

    Legal framework of the transaction

    The Company's Board of Directors approved this loan structure and the related agreements during its meeting held on October 19, 2021, in accordance with the delegations granted by the General Shareholders Meeting of May 10, 2021, under the twelfth resolution relating to the completion of an issue with cancellation of preferential subscription rights for the benefit of a category of beneficiaries, in compliance with article L. 225-129 et seq. of the French Commercial Code.

    Within this framework and in accordance with article 211-3 of the AMF general regulations, share warrants issue for the benefit of Kreos Capital doesn't require to prepare a prospectus to be submitted for approval by the AMF.

    Admission of new ordinary shares by exercise of the share warrants (BSAs) or conversion of the Convertible Bonds.

    The admission of the new ordinary shares to trading on the regulated market of Euronext Paris will be requested under the existing ISIN code of the ordinary shares of Biophytis (ISIN: FR0012816825). The new ordinary shares will be immediately assimilated to the existing ordinary shares. Neither bonds nor share warrants will be listed on Euronext Paris.

    About BIOPHYTIS

    Biophytis SA is a clinical-stage biotechnology company specialized in the development of therapeutics that are aimed at slowing the degenerative processes associated with aging and improving functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19. Sarconeos (BIO101), our leading drug candidate, is a small molecule, administered orally, being developed as a treatment for sarcopenia in a Phase 2 clinical trial in the United States and Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3 study (COVA) for the treatment of severe respiratory manifestations of COVID-19 in Europe, Latin America, and the US. A pediatric formulation of Sarconeos (BIO101) is being developed for thetreatment of Duchenne Muscular Dystrophy (DMD). The Company is based in Paris, France, and Cambridge, Massachusetts. The Company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN: FR0012816825) and ADSs (American Depositary Shares) are listed on Nasdaq Capital Market (Ticker BPTS - ISIN: US09076G1040). 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 2020 Annual 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 as a result of new information, future developments or otherwise, except as required by law.

    Biophytis Contact for Investor Relations

    Evelyne Nguyen, CFO

    Media Contacts

    Antoine Denry: - +33 6 18 07 83 27
    Agathe Boggio: -+33 7 62 77 69 42

    SOURCE:



    View source version on accesswire.com:
    https://www.accesswire.com/674224/Biophytis-Obtains-a-New-10M-Loan-Structure-With-Kreos-Capital

    View Full Article Hide Full Article
  3. PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / November 15, 2021 / Biophytis SA ((NasdaqCM:BPTS, PARIS:ALBPS) (the "Company" or "Biophytis"), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19,announces today that patient recruitment in the United States, paused in May while waiting for results of the Interim Analysis 2, has restarted. The Data Monitoring Committee (DMC) had recommended in September from the Interim Analysis 2 the continuation of the COVA study unmodified based on results showing the efficacy of the treatment with Sarconeos (BIO101) in the promising zone and no futility…

    PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / November 15, 2021 / Biophytis SA ((NasdaqCM:BPTS, PARIS:ALBPS) (the "Company" or "Biophytis"), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19,announces today that patient recruitment in the United States, paused in May while waiting for results of the Interim Analysis 2, has restarted. The Data Monitoring Committee (DMC) had recommended in September from the Interim Analysis 2 the continuation of the COVA study unmodified based on results showing the efficacy of the treatment with Sarconeos (BIO101) in the promising zone and no futility of the study. The FDA confirmed that, as part of the protocol and following the DMC recommendation, the enrollment in the USA could restart.

    Stanislas Veillet, CEO of Biophytis, stated: "We are delighted in receiving the confirmation from the FDA that we can restart enrollment in the USA. The whole Company is committed to finalize the COVA study as soon as possible, to confirm the promising efficacy seen in the Interim Analysis 2, and the re-opening of US centers will strongly contribute to our patient recruitment. We do believe, at the beginning of the 5th wave in Europe, that COVID-19 is becoming endemic and will persist over time. Sarconeos (BIO101) might bring a real therapeutic solution for patients hospitalized with severe respiratory manifestations, with no pharmacological treatment option today."

    To date the COVA study has enrolled 216 patients hospitalized with severe pneumonia from Covid-19 infection in 35 centers in the USA, Brazil, France and Belgium. In addition, 5 new clinical centers are expected to rapidly start recruiting patients in Brazil and in the USA, over a total target of 15 additional clinical centers. The Company will count on an overall network of around 50 centers to complete patient enrollment for the study (between 310 and 465 patients).

    End of recruitment and final results of the COVA study are expected, depending on the evolution of the pandemic, during the first quarter of 2022.

    Emergency Use Authorization in the United States and Conditional Marketing Authorization in Europe for Sarconeos (BIO101) in the treatment of Covid-19 could be obtained as early as in the second quarter of 2022.

    About BIOPHYTIS

    Biophytis SA is a clinical-stage biotechnology company specialized in the development of therapeutics that are aimed at slowing the degenerative processes associated with aging and improving functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19. Sarconeos (BIO101), our leading drug candidate, is a small molecule, administered orally, being developed as a treatment for sarcopenia in a Phase 2 clinical trial in the United States and Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3 study (COVA) for the treatment of severe respiratory manifestations of COVID-19 in Europe, Latin America, and the US. A pediatric formulation of Sarconeos (BIO101) is being developed for thetreatment of Duchenne Muscular Dystrophy (DMD). The Company is based in Paris, France, and Cambridge, Massachusetts. The Company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN: FR0012816825) and ADSs (American Depositary Shares) are listed on Nasdaq Capital Market (Ticker BPTS - ISIN: US09076G1040). 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 2021 Half Year 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 as a result of new information, future developments or otherwise, except as required by law.

    Biophytis Contact for Investor Relations

    Evelyne Nguyen, CFO

    Media Contacts

    Antoine Denry: +33 6 18 07 83 27
    Agathe Boggio: +33 7 62 77 69 42

    SOURCE: Biophytis



    View source version on accesswire.com:
    https://www.accesswire.com/672829/Biophytis-Announces-US-Centers-to-Restart-Recruitment-for-the-COVA-Phase-2-3-Study-with-Sarconeos-BIO101-in-COVID-19

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  4. PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / October 29, 2021 / Biophytis SA (NASDAQ:BPTS)(PARIS:ALBPS) (the "Company" or "Biophytis"), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging and improve functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19, today reports the restated financial statements as per the Company's previous announcement on October 7, 2021 for the periods ending December 31, 2019, December 31 2020, June 30 2020 and June 30 2021, with no impact on the Company's cash and cash equivalent as of June 30 2021.

    1/ Preliminary remarks

    Pursuant to the provisions…

    PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / October 29, 2021 / Biophytis SA (NASDAQ:BPTS)(PARIS:ALBPS) (the "Company" or "Biophytis"), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging and improve functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19, today reports the restated financial statements as per the Company's previous announcement on October 7, 2021 for the periods ending December 31, 2019, December 31 2020, June 30 2020 and June 30 2021, with no impact on the Company's cash and cash equivalent as of June 30 2021.

    1/ Preliminary remarks

    Pursuant to the provisions of IAS 8, the Company determined following the review by and discussions with the Company's independent registered public accounting firm, that it is necessary to restate the Company's previously issued consolidated financial statements for the 2019 and 2020 financial years and for the first semester of the financial years 2020 and 2021, in order to make certain corrections required to reflect the proper accounting treatment of the Company's convertible notes.

    These technical corrections address the inappropriate historical accounting practices relating to notes convertible into ordinary shares and/or redeemable for cash with attached warrants issued to convertible noteholders.

    The fair values historically attributed to the attached warrants as well as the derivatives embedded in the convertible bonds and to the shares issued upon conversion were incorrect, and consequently induce material impacts on certain financial statement line items. As part of the reassessment of the fair value of the embedded derivatives, it was determined that the Company could not reliably estimate separately their fair value and therefore concluded that the entire hybrid contracts should be measured at fair value through profit or loss.

    All details related to such corrections are reflected in the Company's financial semi-annual report and annual report on Form 20-F/A for the related periods, as available today on the Company's website and as filed respectively with AMF and SEC.

    2/ For the six-months period ended June 30, 2020 and 2021

    The total cumulative adjustments as of June 30, 2021:

    - have no impact on the Company's cash and cash equivalents, that amounted to €23.0 million at the end of the period,

    - have a positive impact on net results, reducing the net loss for the period by €2.7 million, from €15.9 million to €13.2 million.

    The Company Half Year financial results as previously announced on September 17, 2021 have been restated as follows:

    .

    3/ For the years ended December 31, 2019 and 2020

    The results of such corrections are summarized as follows:

    .

    (**) Each adjustment is detailed in the Company's Half Year Financial Report and the Company's 20F form as currently filed respectively with AMF and SEC and available on the Company's website: www.biophytis.com

    About BIOPHYTIS

    Biophytis SA is a clinical-stage biotechnology company specialized in the development of therapeutics that are aimed at slowing the degenerative processes associated with aging and improving functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19. Sarconeos (BIO101), our leading drug candidate, is a small molecule, administered orally, being developed as a treatment for sarcopenia in a Phase 2 clinical trial in the United States and Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3 study (COVA) for the treatment of severe respiratory manifestations of COVID-19 in Europe, Latin America, and the US. A pediatric formulation of Sarconeos (BIO101) is being developed for the treatment of Duchenne Muscular Dystrophy (DMD). The Company is based in Paris, France, and Cambridge, Massachusetts. The Company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN: FR0012816825) and ADSs (American Depositary Shares) are listed on Nasdaq Capital Market (Ticker BPTS - ISIN: US09076G1040). 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 2021 Half Year 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 as a result of new information, future developments or otherwise, except as required by law.

    Contact for Investor Relations

    Evelyne Nguyen, CFO

    Contacts Medias

    Antoine Denry: - Tel : + 33 6 18 07 83 27
    Agathe Boggio: - Tel : + 33 7 62 77 69 42

    SOURCE: Biophytis



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    https://www.accesswire.com/670318/Biophytis-to-Report-Restated-Financial-Statements-for-Previous-Periods-and-as-of-June-30-2021

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