Why Is Biophytis (BPTS) Stock Up 43% Today?


  • Biophytis (BPTS) stock is rising higher alongside its 2023 earnings report.
  • The company saw its net lose improve during the year.
  • It’s also got enough cash to continue operations into 2025.
BPTS Stock - Why Is Biophytis (BPTS) Stock Up 43% Today?

Source: Bukhta Yurii / Shutterstock.com

Biophytis (NASDAQ:BPTS) stock is rocketing higher on Tuesday after releasing its earnings results for the full year of 2023.

Biophytis is still a clinical-stage biotechnology, which means it had no revenue to report for 2023. However, its net loss for the quarter was 17.03 million euros. That’s an improvement over its net loss of 24.22 million euros in 2022.

Biophytis notes there were several factors that resulted in it reporting a lower net loss. That includes reduced research and development costs due to completed clinical trials for its COVA and SARA programs.

Biophytis also mentions that it has cash and cash equivalents of 5.6 million euros. The company says this is enough funds to continue operations into the first quarter of 2025 but not for the next 12 months.

Stanislas Veillet, CEO of Biophytis, said this in the earnings report:

“In 2023, despite a particularly difficult financial environment for the biotech sector, we succeeded in pursuing the development of our clinical programmes, while securing the company’s financing until early 2025.”

BPTS Stock Movement Today

Today’s earnings news brings with it heavy trading for BPTS stock. That has more than 6 million shares changing hands as of this writing. This is well above its daily average trading volume of about 82,000 shares.

BPTS stock is up 43.2% as of Tuesday morning.

Investors will find more of the most recent stock market news below!

We have all of the hottest stock market stories ready to go on Tuesday! That includes the biggest pre-market stock movers this morning, the latest news concerning Netflix (NASDAQ:NFLX) layoffs and more. All of this info is available at the following links!

More Tuesday 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 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.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/why-is-biophytis-bpts-stock-up-43-today/.

©2024 InvestorPlace Media, LLC