Biophytis: Results of the Combined General Meeting on April 17, 2023

Rhea-AI Summary

Biophytis (Nasdaq: BPTS) announced the successful adoption of 18 resolutions during its Combined General Meeting, held on April 17, 2023. Shareholders mobilized to achieve a quorum exceeding 20%. Key resolutions included a reduction of the nominal share value from 0.20 euro to 0.01 euro and the renewal of authorizations to increase share capital and issue securities. The reduction of nominal value is aimed at capitalizing on losses. Following the meeting, the company's board made further decisions aligned with the approved resolutions, reinforcing Biophytis' commitment to advancing its drug candidate Sarconeos (BIO101) for age-related diseases and COVID-19 treatments. CEO Stanislas Veillet expressed gratitude towards shareholders for their support and commitment to the company's goals.

Positive

• Approval of 18 resolutions by shareholders, allowing crucial operational advancements.
• Reduction of nominal share value aims to facilitate financial maneuvers.
• Reinforcement of commitment to bring Sarconeos (BIO101) to market.

Negative

• Reduction of share nominal value may indicate underlying financial struggles.

• Adoption of all resolutions
• Reduction of the nominal value of the share to 0.01 euro

PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE / April 18, 2022 / Biophytis SA (Nasdaq CM :BPTS)(Euronext Growth Paris:ALBPS), ("Biophytis" or the "company"), a clinical-stage biotechnology company focused on 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, today announces the approval by a very large majority of all resolutions presented by the company and falling within the remit of the Combined General Meeting.

Thanks to the mobilization of shareholders, the CGM could be held on second call with a quorum of more than 20% of the shareholders present or represented.

The 18 resolutions presented by the company were approved at a very large majority and were comprising notably the reduction of the nominal value of the share by capitalisation of losses, the resolutions related to the renewal of the authorisations to increase the share capital and to issue securities giving the right to the share capital voted at the AGM of June 2022, the resolution concerning the share consolidation.

Following the General Meeting, a Board of Directors of the Company was held and decided, in accordance with the vote in resolution number 1, to proceed with a reduction of the nominal value of the shares from EUR 0.20 to EUR 0.01.

The results of the votes of the combined General Meeting will be available on Biophytis' website from April, 18TH 2023, under the section - Investors - General Assembly.

Stanislas Veillet, President, and CEO of Biophytis, said: « Iwould like to thank all the shareholders for their commitment and renewed trust. I am very pleased that all the resolutions presented by the company during the Combined General Meeting were approved, which will allow us to move towards our goal of bringing our first drug against severe forms of Covid-19 to market in the coming months."

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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 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/749748/Biophytis-Results-of-the-Combined-General-Meeting-on-April-17-2023

FAQ

What were the results of Biophytis' Combined General Meeting on April 17, 2023?

All 18 resolutions presented at Biophytis' Combined General Meeting were approved, including a reduction in the nominal share value.

Why did Biophytis reduce the nominal value of its shares to 0.01 euro?

The reduction aims to capitalize on losses and facilitate future financial strategies.

What is Biophytis' stock symbol?

The stock symbol for Biophytis is BPTS on Nasdaq.

What does Biophytis focus on developing?

Biophytis specializes in therapeutics aimed at slowing degenerative processes associated with aging and improving outcomes for age-related diseases.

What are the company's plans following the approval of the resolutions?

Biophytis aims to move forward with bringing its drug candidate Sarconeos (BIO101) to market, particularly for severe COVID-19 cases.