March 17, 2020 / 7:12 AM / in 13 days

BRIEF-Biophytis FY Net Loss Widens To 17.8 Million Euros

March 17 (Reuters) - Biophytis SA:

* SUCCESSFUL COMPLETION OF OUR SARA-OBS OBSERVATIONAL STUDY IN SARCOPENIA SUPPORTING THE SARA-INTEREST PHASE 2B STUDY

* ACCELERATION OF RECRUITMENT IN SARA-INTEREST STUDY WITH 227 PATIENTS NOW RECRUITED IN 22 CLINICAL CENTERS IN THE US AND EUROPE

* IND GRANTED BY FDA TO START THE CLINICAL DEVELOPMENT OF SARCONEOS (BIO101) IN DUCHENNE MUSCULAR DYSTROPHY (DMD)

* CONSOLIDATION OF FINANCIAL RESOURCES THROUGH SUCCESSFUL COMPLETION OF A PRIVATE EQUITY PLACEMENT OF €3.3 MILLION AND A CONTRACTED CONVERTIBLE BOND FINANCING OF UP TO €24 MILLION WITH NEGMA

* PROTOCOL AMENDMENT FOR SARA-INTEREST STUDY APPROVED BY FDA RESULTING IN A REDUCTION OF THE COHORT SIZE FROM 334 TO 231 PATIENTS; TOPLINE RESULTS EXPECTED BY END 2020

* CASH AND CASH EQUIVALENTS AS OF DECEMBER 31, 2019 WERE €6.3 MILLION

* NET LOSS WAS €17.8 MILLION FOR 2019, AS COMPARED TO €14.0 MILLION FOR 2018

* FY OPERATING LOSS EUR 15.7 MILLION VERSUS LOSS OF EUR 13.9 MILLION YEAR AGO

* IN VIEW OF CURRENT AND RAPIDLY CHANGING COVID-19 SITUATION, BIOPHYTIS IS TAKING NECESSARY STEPS TO PROTECT ITS EMPLOYEES, PARTNERS AND OPERATIONS

* START OF THE CLINICAL TRIAL OF SARCONEOS (BIO101) IN DMD FOLLOWING THE IND APPROVAL FROM THE FDA. THE AIM IS TO OPEN AT LEAST TWO CLINICAL CENTERS IN THE US AND RECRUIT THE FIRST PATIENT IN 2020

* ON CORONAVIRUS: THERE IS NO TRAVEL TO RESTRICTED AREAS FOR WORK-RELATED REASONS

* ON CORONAVIRUS: TO DATE, LIMITED IMPACT ON OUR DAILY OPERATIONS, INCLUDING OUR INTERACTIONS WITH CLINICAL INVESTIGATORS, REGULATORS, THE SCIENTIFIC COMMUNITY AND OTHER STAKEHOLDERS

* WE REMAIN ON TRACK IN ALL KEY AREAS, PARTICULARLY WITH REGARD TO OUR PHASE 2B SARA-INTEREST TRIAL, WHERE WE EXPECT TO COMPLETE PATIENT RECRUITMENT IN THE COMING WEEKS Source text : bit.ly/33qldt6 Further company coverage: (Gdansk Newsroom)

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