Biophytis Shares Break Below Their €0.03 Support, Down 8%
The Paris-based biotech's shares fall early in the afternoon below a floor they had held in recent sessions. This new decline comes a few days after the publication of its half-year accounts and details of its financing plan.
Support Gives Way, Moving Averages Remain Far Above the Share Price
The share price of Biophytis falls 8.04% to €0.0263 intraday, after breaking below its lowest level of the past 30 sessions, around €0.03. This threshold, which had served as a floor, now becomes a resistance. The decline extends the week's slide (-24.78%), which erases a large part of the quarter's rebound, still up 298% over three months.
The RSI at 27 reflects marked selling pressure, with the share price more than 34% below the MM20 and more than 47% below the MM50. The CAC 40 barely declines (-0.06%): the movement is specific to the stock rather than to the market.
Half-Year Cash of €268K, Funds Raised This Summer to Cover Operations Until 2028
In its half-year accounts published on October 30, Biophytis reduced its loss by 38%. Cash stood at only €268K as of June 30, however, after €1.5M was consumed over the period.
The €5.3M capital increase completed in September changed the situation: the company held €8.9M as of September 11, enough to finance its operations until the first quarter of 2028 according to its estimates.
The group nonetheless considers the search for financing “imperative” to launch its next clinical steps, including the phase 2 trial in obesity. On the analyst side, Invest Securities maintains its buy rating, with a target price of €0.04, representing a potential upside of about 52% compared with the day's share price.
