Biophytis (NASDAQ:BPTS) stock is rising higher on Monday after the company announced a Sarconeos production agreement.
According to a press release from Biophytis, the company reached an agreement with Skyepharma for the manufacturing of Sarconeos. This is Biophytis’ treatment for severe forms of Covid-19.
This production agreement will see Skyepharma creating regulatory batches of the drug. Biophytis intends to use these batches to present the drug to regulators for commercial approval. That includes plans for early access authorizations in France and Brazil.
Stanislas Veillet, CEO of Biophytis, said the following about the news:
“Following on from the framework contract signed with SEQENS in July for the production of Sarconeos active ingredient (BIO101), this new partnership is a key step for Biophytis as it secures the production of finished product batches of its leading drug candidate, and thus continues our efforts to access our targeted markets.”
BPTS Stock Movement on Monday
Following this collaboration announcement, shares of BPTS stock are seeing heavy trading on Monday. As of this writing, more than 3.8 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 459,000 shares.
BPTS stock is up 48.9% as of Monday morning but was down 78.2% year-to-date as of Friday’s close.
There’s even more stock market news that traders are going to want to read about below!
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On the date of publication, William White did not have (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.
