Biophytis: Convening of Another Combined General Meeting at a Later Date

Rhea-AI Summary

Biophytis held its Annual General Meeting on June 3, 2022, but failed to reach the required quorum of 20%, with only 15.45% of shares and 16.19% of voting rights represented. Consequently, no resolutions were voted on, and the meeting was adjourned. Shareholders will be invited to a second AGM at a later date, maintaining the validity of votes submitted previously. Biophytis is a clinical-stage biotechnology company focused on therapeutics for aging-related conditions, including its lead drug candidate Sarconeos (BIO101), targeting severe respiratory failure in COVID-19 patients.

Positive

• Sarconeos (BIO101) reached Phase 2 in clinical development for sarcopenia.
• Ongoing studies for Sarconeos in treating severe respiratory manifestations of COVID-19.

Negative

• Quorum for AGM not reached, leading to adjournment and delays in decision-making.

PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / June 3, 2022 / Biophytis SA (NASDAQ:BPTS)(Euronext Growth Paris:ALBPS), ("Biophytis" or the "Company"), a clinical-stage biotechnology company focused on the development of therapeutics that slow the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19, informs its shareholders that the combined Annual General Meeting (AGM) held on June 3, 2022 was unable to deliberate, as the required quorum was not reached.

The shareholders taking part in the vote owned collectively 23 514 980 shares, or 15.45% of the share capital, and 16.19% of the voting rights. The 20% quorum necessary for holding an ordinary AGM on first call and the 25% quorum necessary for holding an extraordinary General Meeting on first call have not been reached.

Therefore, in the absence of the quorum required to rule on the ordinary and extraordinary resolutions, none of the proposed resolutions have been put to the vote of the shareholders and the AGM is adjourned. Shareholders will therefore be invited to another combined AGM, on the second call, to be held at a later date with the same agenda.

The vote of shareholders who submitted their vote via the post, email or the Internet for the first general meeting remains valid and counted for the general meeting on the second call.

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About BIOPHYTIS
Biophytis SA is a clinical-stage biotechnology company specialized in the development of therapeutics that are aimed at slowing the degenerative processes associated with aging, including severe respiratory failure in patients suffering from COVID-19. Sarconeos (BIO101), our leading drug candidate, is a small molecule, administered orally,) just achieved its phase 2 development as a treatment for sarcopenia in the United States and Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3 study (COVA) for the treatment of severe respiratory manifestations of COVID-19 in Europe, Latin America, and the US. A pediatric formulation of Sarconeos (BIO101) is being developed for the treatment of Duchenne Muscular Dystrophy (DMD). The company is based in Paris, France, and Cambridge, Massachusetts. The company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN: FR0012816825) and the ADS (American Depositary Shares) are listed on Nasdaq (Ticker BPTS - ISIN: US09076G1040).
For more information visit www.biophytis.com

Disclaimer
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are based on assumptions that Biophytis considers to be reasonable. However, there can be no assurance that the statements contained in such forward-looking statements will be verified, which are subject to various risks and uncertainties. The forward-looking statements contained in this press release are also subject to risks not yet known to Biophytis or not currently considered material by Biophytis. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Please also refer to the "Risks and uncertainties the Company is to face" section from the Company's 2021 Full Year Report and as exposed in the "Risks Factors" section of form 20-F as well as other forms to be filed respectively with AMF and with the SEC (Securities and Exchange Commission, USA). We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Biophytis Contact for Investor Relations
Philippe Rousseau, CFO
Investors@biophytis.com

Media Contacts
Antoine Denry: antoine.denry@taddeo.fr - +33 6 18 07 83 27
Agathe Boggio: agathe.boggio@taddeo.fr - +33 7 62 77 69 42

SOURCE: Biophytis

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https://www.accesswire.com/703899/Biophytis-Convening-of-Another-Combined-General-Meeting-at-a-Later-Date

FAQ

What happened at Biophytis' AGM on June 3, 2022?

Biophytis' AGM on June 3, 2022, was adjourned due to insufficient quorum, with only 15.45% of shares represented.

When will the next AGM for Biophytis take place?

A second combined AGM will be scheduled at a later date, as the first meeting did not reach the necessary quorum.

What is Sarconeos (BIO101) and its significance?

Sarconeos (BIO101) is Biophytis' leading drug candidate aimed at treating severe respiratory failure in COVID-19 patients and has reached Phase 2 development.

What percentage of shares represented at the AGM?

At the AGM, shareholders represented 23,514,980 shares, accounting for 15.45% of the share capital.