Biophytis (NASDAQ:BPTS) stock is rocketing higher on Tuesday after announcing a production partnership with SEQENS.
According to a press release, Biophytis will work with SEQENS for the production of the active ingredient in Sarconeos. This will see SEQENS handle the production of the compound at its Villeneuve La Garenne plant in France.
Sarconeos is Biophytis’ lead candidate in development to treat several issues. That includes “severe forms of Covid-19, sarcopenia and Duchenne muscular dystrophy.”
Stanislas Veillet, chairman and CEO of Biophytis, said the following about the production agreement news:
“SEQENS’ proven know-how and compliance with manufacturing standards will be decisive in meeting our needs over the next few years, particularly in the context of early access programs and with a view to market access applications for Sarconeos (BIO101) in the treatment of severe forms of Covid-19.”
BPTS Stock Movement Today
With this latest announcement, shares of BPTS stock are experiencing heavy trading on Tuesday. That has more than 3.6 million shares changing hands as of this writing. To put that number in perspective, the company’s daily average trading volume is only about 10,000 shares.
Investors will also keep in mind that BPTS is a penny stock. While today’s movement does come from positive news, it may be a bit exaggerated as investors buy up more shares due to its low entry point.
BPTS stock is up 66% as of Tuesday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
