(CercleFinance.com) – Biophytis reported last night a cash position of 19.7 million euros as of June 30, compared to 23.9 million euros at the end of 2021.
The biotechnology company specifies that the cash used for its operating activities fell by 23% to 10.3 million euros in the first half due to the drop in the cost of its clinical trials.
Its operating loss over the first six months of the year amounted to 11.9 million euros against 10.5 million euros due to an increase in the cost of share-based payments.
For the record, Biophytis recently announced the first results deemed ‘promising’ from a phase 2-3 clinical study in Covid-19, with a 39% reduction in the risk of respiratory failure or early death.
The publication of the full results of the study is expected before the end of 2022.
Sarconeos, its lead drug candidate, is also being developed as a treatment for sarcopenia in a phase 2 clinical trial.
A pediatric formula is also the subject of a development project for the treatment of Duchenne muscular dystrophy.
Following the correction of the accounting treatment of a financing contract entered into last year, plans, as soon as reasonably possible, to file restated financial statements for the 2021 financial year.
Biophytis shares were up 0.7% on Tuesday on the Paris Stock Exchange following these announcements.
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