Un grand avenir pour le vieillissement - NEUTRE - OC 11,9€
Lors de son IPO sur Alternext Paris mi-juillet 2015, Biophytis a émis 1 672 500 actions nouvelles au prix de 6€, soit une augmentation de capital d’environ 10m€. Suite à cela, profitant de la bonne performance du titre, BIOPHYTIS a procédé début août à une levée de fonds complémentaire auprès d’un investisseur nord-américain en émettant 666 700 actions nouvelles pour 6m€. Au total donc, la société a levé 16m€, ce qui est proche de ce que nous jugions nécessaire au moment de l’IPO. Elle a donc les moyens de sa stratégie. Dans l’immédiat, notre valorisation s’établit à 11,9€, sensiblement supérieure à celle de l’IPO en raison d’un WACC de 13,8% vs 15,3%. Nous sommes NEUTRE en attendant l’autorisation de démarrer les essais de phase II-b d’ici mi-2016.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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