Shares of clinical-stage biopharmaceutical company Biophytis (NASDAQ:BPTS) are up in today’s pre-market session after promising top-line results from a Phase 2-3 study evaluating its Sarconeos for respiratory failure associated with COVID-19.
In the study, Sarconeos (BI0101) lowered the risk of respiratory failure or early death by 39% vs placebo at 28 days which was the primary endpoint of the trial.
The drug presents a good safety profile and further results are expected to be presented at an international scientific conference in the coming months.
The company is also looking at the possibility to amend and continue the Early Access Program (EAP) to make the treatment available as early as this winter. It has already received an EAP in Brazil and further EAP filings could be made in the U.S. and Europe as well.
Is Biophytis Stock a Good Buy?
Importantly, today, H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on the stock alongside a price target of $15. This implies a massive 1288.89% potential upside in the stock on top of the nearly 15% price gain over the past five days.
The analyst has based the price target on the potential of Sarconeos alone and has not factored in the company’s other candidate, Macuneos, to remain conservative.
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