Biophytis (NASDAQ:BPTS) stock is soaring higher on Tuesday as investors react to a positive opinion for its upcoming Phase 3 clinical trial.
The big news here is Belgian authorities giving a positive opinion of the company conducting its SARA-31 program. This study will cover treating sarcopenia, which is muscle loss from aging. This will be the first Phase 3 clinical trial to tackle this issue.
Biophytis notes that the positive opinion follows “promising results” from its SARA-INT Phase 2b study in 2022. The company now only needs a positive opinion from the Ethics Committee in Belgium to move forward with the study.
To go along with this, Biophytis is planning for studies in other parts of the world as well. Specifically, the company notes that it has filed similar requests with the U.S. Food and Drug Administration (FDA) to conduct a study in the U.S. as well.
BPTS CEO Commentary
Stanislas Veillet, CEO of Biophytis, said the following about the news:
“This opinion is a major step forward in our efforts to treat sarcopenia […] Today, we are putting our pioneering position in this field into practice by obtaining, for the first time, a positive opinion from a regulatory agency to conduct a phase 3 clinical trial in this debilitating geriatric disease, which affects more than 30 million patients worldwide.”
BPTS stock is up 18% Tuesday morning as 6 million shares change hands. For the record, the company’s daily average trading volume is about 292,000 shares.
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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.
