Biophytis Reports 2023 Financial Results and Business Updates

Biophytis SA, a clinical-stage biotechnology firm specializing in age-related disease therapies, announced its 2023 financial results and business progress. The company managed to advance clinical programs and secure financing into early 2025 despite a challenging biotech sector. BIO101, its leading drug candidate, showed promise in treating severe COVID-19 patients, suggesting potential broader application for viral Severe Acute Respiratory Infections (SARI).

Biophytis obtained approval for a phase 3 trial in sarcopenia in the US and Belgium and is seeking partnerships for phase 3 studies of BIO101 in sarcopenia and COVID-19 treatments. The company is also initiating a phase 2 program in obesity to assess BIO101's efficacy in maintaining muscle function in obese patients on GLP-1 receptor agonists.

The 2023 highlights include positive feedback from Belgian authorities and the FDA to commence a sarcopenia phase 3 study, promising preclinical results in obesity for BIO101, and significant reduction in respiratory failure risk in severe COVID-19 patients in the COVA program. Financially, Biophytis experienced a decrease in cash and an overall net loss reduction from 2022 to 2023.

The company is optimistic about financing its activities till the first quarter of 2025, with operating expenses significantly reduced due to the completion of clinical trials and controlled R&D spending.