Why Is Biophytis (BPTS) Stock Up 42% Today?

  • Biophytis (BPTS) stock is rising thanks to a new master service agreement.
  • The company signed the agreement with Intsel Chimos.
  • The deal covers the use of Biophytis’ Covid-19 treatment in France.
BPTS Stock - Why Is Biophytis (BPTS) Stock Up 42% Today?

Source: Maridav / Shutterstock

Biophytis (NASDAQ:BPTS) stock is rocketing higher on Thursday after the company signed a master service agreement with Intsel Chimos.

With this agreement, Intsel Chimos will become the “operating pharmaceutical company/exploitant, partner and distributor in France” for Biophytis’ Sarconeos drug. This is “in the context of the early access program application, requested for the treatment of severe forms of COVID-19, if approved.”

Stanislas Veillet, CEO of Biophytis, said the following about the news:

“Biophytis is part of a very small group of biotechs that have succeeded in developing a treatment that has demonstrated its efficacy in the treatment of severe forms of Covid-19, and now needs to make it available as soon as possible in Europe, the United States and the rest of the world.”

How This Affects BPTS Stock

With this news, Biophytis is opening itself up to bringing its Covid-19 treatment to more areas. That could be a boon for the company as countries continue to deal with new strains of the virus.

This news has also resulted in heavy trading for BPTS stock today. As of this writing, more than 4.5 million shares have changed hands. That’s a massive jump compared to the daily average trading volume of about 609,000 shares.

BPTS stock is up 42% in pre-market trading on Thursday.

There’s even more stock market news traders will want to read about below!

We’ve got all of the most recent stock market coverage investors need to know about today. That includes the biggest pre-market stock movers this morning, the latest First Solar (NASDAQ:FSLR) news and more. You can check out all of that news at the following links!

More Thursday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/why-is-biophytis-bpts-stock-up-42-today/.

©2023 InvestorPlace Media, LLC