Biophys SA (BPTS) stock gained in the pre-market after announcing that ANVISA has approved its Covid-19 treatment. BPTS values at $5.28, gaining more than 13.5% from yesterday’s closed value. The stock closed at $4.65 at the end of the previous trading session. The stock volume traded in the previous trading session was around 2.6K shares.
Biophys SA (BPTS) Covid-19 treatment approval by ANVISA
Biophys SA (BPTS) today announced that ANVISA had approved its Expanded Access Program (EAP) for treating hospitalized COVID-19 patients with Sarconeos (BIO101). Sarcone’s (BIO101) is prescribed to 80 ventilated patients in Brazilian hospitals for up to 28 days.
EAP’s acceptance by ANVISA is based on these factors:
- Patients with disabling or life-threatening diseases are the target audience.
- No satisfactory therapeutic alternative using Brazilian products.
- The authorization of the product is only provided by prescribing practitioner.
CEO’s remark about the recent development
The CEO of Biophytis SA (BPTS) said that our next step is to make Sarconeos (BIO101) available to critically ill ICU patients with severe Covid-19. This initiative will yield fresh data on the safety of Sarconeos (BIO101) and its potential efficacy in mechanically ventilated patients and unique indications.
Analysts ratings about Biophytis SA (BPTS)
CNN Business states that Biophytis SA is currently growing and is expected to hit the median target price of $15 per share. Currently, BPTS trades for around $4.65. The median price represents an increase of around 230%.
Analysts have a mutual consensus about BPTS on Buy rating. They have ranked BPTS a Buy since December 2021 and since then, the rating has not changed.
Conclusion
The approval of the company’s Covid-19 treatment by ANVISA is a major breakthrough in its business. This will prove to be a significant revenue stream and make the company profitable.
