Why Are Biophytis Shares Trading Higher During Premarket Trading?

Biophytis SA BPTS has received approval from the ANVISA (Brazilian health authority) for its Expanded Access Program (EAP) to treat hospitalized patients with severe COVID-19 with Sarconeos (BIO101). 

• A maximum of 80 mechanically ventilated patients in the Intensive Care Unit of Brazilian hospitals will be treated with Sarconeos for up to 28 days to prevent further deterioration and mortality.
• This EAP, giving access to Sarconeos (BIO101) to most severe cases of COVID-19 patients, is complementing Biophytis' effort to participate in the therapeutic armamentarium against COVID-19 along with the ongoing COVA Phase 2-3 study. 
• The COVA study is evaluating Sarconeos (BIO101) to treat severe respiratory manifestations of COVID-19 in non-intubated hospitalized patients.
• Brazil is the first country to approve the EAP to give access to Sarconeos (BIO101) to hospitalized COVID-19 patients. 
• Based on this first approval and the upcoming completion of the COVA study during H1 2022, Biophytis is willing to extend the EAP submission to other countries.
• Price Action: BPTS shares are trading 14% at $5.30 during the premarket session on the last check Thursday.