Positive scientific advice of FAHMP on SARCOB BIO101 - HOLD - TP 9,5€ (vs 11€)
Biophytis received scientific advice from the Belgian Federal Agency for Medicines and Health Products (FAHMP) regarding its clinical development plan for SARCOB BIO101, which is being studied in phase 2b for treatment of patients suffering from sarcopenic obesity (i.e. loss of muscle functionality in obese people), an increasingly common issue, most often associated with aging. The FAHMP opinion represents an important milestone in the regulatory and clinical development of SARCOB BIO101. It is the first step of the regulatory process by which BIOPHYTIS seeks to obtain approvals of several agencies (FAHMP, ANSM, EMA, FDA) necessary to proceed with a Phase 2b trial of SARCOB BIO101 in about 180 patients. We adjust our target price from €11 to €9.5 taking into account an higher WACC than previously (17% vs 15.6%). Though this target price remains significantly higher than the recent share price, we maintain our HOLD rating while waiting for the authorisation (expected in H2 16) for the start of phase II-b studies, which should validate Biophytis’ medical approach in aging.Biophytis SA, formerly Institut Biophytis Sas is a France-based company engaged in the healthcare industry. The Company is a biotechnology entity specialized in the development of drug candidates to treat ageing diseases. Its two programs relate to sarcopenia (loss of muscle functionality) and Age Related Macular Degeneration (ARMD). Biophytis SA is engaged in the clinical and regulatory development of its drug candidates, such as Sarconeos (BIO101) and Macuneos (BIO201), simultaneously in the United States and domestic market.
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