Biophytis (NASDAQ:BPTS) stock is taking off on Thursday after the company released results from a Phase 2/3 clinical trial.
That clinical trial covers the use of Sarconeos as a treatment for patients suffering from Covid-19-related respiratory failure. The positive news is the clinical trial meeting its primary endpoint with a 44% statistically significant reduction in the “risk of respiratory failure or early death in hospitalized patients with severe COVID-19.”
Biophytis notes that it has already begun key regulatory activities needed to provide Sarconeos to Covid-19 patients. Specifically, it’s working on its Early Access Program in both France and Brazil, as well as toward Marketing Authorisation (CMA) in Europe and an Emergency Use Authorization (EUA) in the U.S.
Stanislas Veillet, CEO of Biophytis, said the following in a news release:
“While there is a resurgence of COVID-19 patients in China and still unacceptable levels of patients dying from COVID-19 in Europe, the USA and Brazil, Sarconeos (BIO101) may offer an effective therapeutic option to reduce further the threat of COVID-19 pandemic.”
BPTS Stock Movement
With today’s news of the clinical trial results comes heavy trading of BPTS stock. As of this writing, more than 23 million shares have been traded. That’s a massive surge compared to the company’s daily average volume of about 128,000 shares.
BPTS stock is up 68.9% as of Thursday morning.
Investors looking for more of the latest stock market news will want to stick around!
InvestorPlace is ready to go Thursday with our deep dives into today’s biggest market stories. Among that is what has shares of Pinterest (NYSE:PINS), Okta (NASDAQ:OKTA) and Exact Sciences (NASDAQ:EXAS) stock in the news this morning. You can check out all of that at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.