Why Biophytis (BPTS) Shares Are Sky-Rocketing

Biophytis SA BPTS shares are trading higher Monday after the company and Skyepharma announced a partnership agreement for the production of regulatory batches of Sarconeos (BIO101) for severe forms of Covid-19.

The Details:

Biophytis and Skypharma have signed an agreement for the production of regulatory batches of Sarconeos (BIO101) for the treatment of severe forms of Covid-19. The partnerships is aimed at the submission of obtaining a marketing authorization for the treatment. 

Stanislas Veillet, CEO of Biophytis, stated, "Following on from the framework contract signed with SEQENS in July for the production of Sarconeos active ingredient (BIO101), this new partnership is a key step for Biophytis as it secures the production of finished product batches of its leading drug candidate, and thus continues our efforts to access our targeted markets."

Shares of BPTS are up on very heavy trading volume Monday. According to data from Benzinga Pro, more than 50 million shares have already been traded in the session, compared to the stock's 100-day average of just over 446 thousand shares.

Related News: What's Going On With Lucid Motors Stock?

BPTS Price Action: According to Benzinga Pro, shares are up 80% at $1.59 at the time of publication.

Image: PIRO from Pixabay