Biophytis announces its 2023 financial results and provides an update on its activities

Biophytis SA, a biotechnology company specializing in the treatment of age-related diseases, revealed its financial results for the 2023 financial year. Despite a challenging financial context, it made progress in the development of its clinical programs and secured its financing until early 2025. BIO101 treatment shows potential in the fight against severe COVID-19 and sarcopenia. A phase 3 study in sarcopenia will begin in the United States and Belgium, while a phase 2 in obesity is planned.

The company's lead project, BIO101, has completed a phase 2-3 for COVID-19, showing a reduction in the risk of respiratory failure. In addition, industrial partnerships have been initiated for the potential production of this drug candidate. The financial situation shows a drop in cash flow but current operations and future financing plan would allow activity until the first quarter of 2025.

Expenses were also reduced, mainly due to lower research and development costs and general and administrative expenses. However, the company faces significant doubt as to its ability to continue its activity beyond the next 12 months without additional financing.