Biophytis Regains Compliance with NASDAQ Minimum Bid Price Requirement

Rhea-AI Summary

Biophytis SA (NASDAQ:BPTS) has announced that it has regained compliance with the Nasdaq Global Select Market minimum bid price requirement. This follows a Notification Letter from Nasdaq dated April 14, 2022, confirming that for 10 consecutive business days ending April 13, 2023, Biophytis' American Depositary Shares closed at $1.00 or greater. Previously, on October 20, 2022, the company had been notified that it no longer met the Nasdaq Listing Rule due to a closing bid price of less than $1.00. Biophytis is focused on developing therapeutics for age-related diseases, including severe respiratory issues in COVID-19 patients, with its lead candidate being Sarconeos (BIO101), currently in a Phase 2 trial. The company's shares are traded on both Nasdaq and Euronext Growth.

Positive

• Regained compliance with Nasdaq minimum bid price requirement.
• Share price has been at or above $1.00 for the last 10 consecutive business days.

Negative

• None.

PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / April 19, 2023 / Biophytis SA (NASDAQ:BPTS)(Euronext Growth Paris:ALBPS) (the "Company" or "Biophytis"), 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, today announced that it has received written notification (the "Notification Letter") from the Nasdaq Stock Market LLC ("NASDAQ") dated April 14, 2022, indicating that Biophytis has regained compliance with he Nasdaq Global Select Market minimum bid price requirement.

On October 20, 2022, the Nasdaq had notified Biophytis that based upon a closing bid price of less than $1.00 per share for the Company's American Depositary Shares ("ADSs") for the prior 30 consecutive business deay period, the Company no longer satisfied Nasdaq Listing Rule 5550(a)(2). Since then Nasdaq has determined that for the last 10 consecutive business days, from March 30, 2023 to April 13, 2023, the closing bid price of the Company's American Depositary Shares has been at $1.00 per share or greater. Accordingly, Biophytis has regained compliance with he Nasdaq Global Select Market minimum bid price requirement.

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 and improving functional outcomes for patients suffering from age-related diseases, including severe respiratory failure in patients suffering from COVID-19. Sarconeos (BIO101), our leading drug candidate, is a small molecule, administered orally, being developed as a treatment for sarcopenia in a Phase 2 clinical trial in the United States and Europe (SARA-INT. In addition, Sarconeos (BIO101) has been demonstrated to be active on severe COVID-19 patients, in a positive Ph2-3 study (COVA) with results released Q1 2023. A pediatric formulation of Sarconeos (BIO101) is being developed for thetreatment 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 ADSs (American Depositary Shares) are listed on Nasdaq Capital Market (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 "Risk and uncertainties the Company is to face" section from the Company's 2022 Half Year Financial Report available on BIOPHYTIS website (www.biophytis.com) and as exposed in the "Risk Factors" section of form 20-F as well as other forms filed 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

View source version on accesswire.com:
https://www.accesswire.com/750076/Biophytis-Regains-Compliance-with-NASDAQ-Minimum-Bid-Price-Requirement

FAQ

What recent compliance achievement did Biophytis (BPTS) announce?

Biophytis announced it has regained compliance with Nasdaq's minimum bid price requirement.

When did Biophytis receive the notification from Nasdaq?

Biophytis received the notification from Nasdaq on April 14, 2022.

What was the previous bid price issue reported for Biophytis (BPTS)?

Biophytis was previously notified that it was non-compliant due to a closing bid price of less than $1.00 for 30 consecutive business days.

What is Sarconeos (BIO101) being developed for by Biophytis?

Sarconeos (BIO101) is being developed as a treatment for sarcopenia and has shown activity in severe COVID-19 patients.