Biophytis Shares Drop 11% After Request for Meeting With FDA on Covid-19 Treatment
July 20 2023 - 1:21PM
Dow Jones News
By Chris Wack
Biophytis shares fell 11% to $2.40 after the company said it has
filed for a pre-submission meeting request with the Food and Drug
Administration to discuss filing for emergency use authorization in
the U.S. for Sarconeos in the treatment of Covid-19.
The stock dropped 13% on Wednesday after the company priced a
registered direct offering valued at $3.8 million. The stock is
down 74% in the past 12 months.
The biotechnology company said this request is a further key
step in defining the conditions for rapid market access in the U.S.
for Sarconeos, following a similar process initiated with the
European Medicine Agency in May.
Biophytis said that depending on feedback from the FDA, it could
consider filing an emergency use application by the end of 2023 or
in the first half of 2024.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
July 20, 2023 13:06 ET (17:06 GMT)
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