Shares of Biophytis (NASDAQ:BPTS, EPA:ALBPS), a clinical-stage biotechnology firm, soared 41% in premarket trading on Nasdaq following the announcement of a strategic partnership with Skyepharma (LSE:SKP).
The collaboration aims to produce regulatory batches of Sarconeos (BIO101), a therapeutic candidate for severe forms of Covid-19.
Analysts see the move as a significant step towards obtaining marketing authorisation for the drug, particularly in France and Brazil.
The deal comes on the heels of a framework contract signed with SEQENS in July for the production of the Sarconeos active ingredient.
It is expected to complete the necessary pharmaceutical development work for early access authorisations. Both companies expressed their commitment to addressing major public health issues through this partnership.
At 9.06 am, the stock had been market 36 cents higher at $1.24.