Down 72% over one year, Biophytis stock falls 8% after its €5.3M fundraising
The biotech company Biophytis stock is declining sharply at mid-session and has fallen back below moving averages it had recently reclaimed. The decline occurs three days after the completion of a fundraising round intended to finance its phase 2 clinical trial in obesity.
A decline of 8.18% bringing the price back to €0.04 during the session
Biophytis stock is trading at €0.0404 and is down 8.18% compared to the previous day (€0.044), in a slightly rising Paris market: the CAC 40 gains 0.28% and the SBF 120 gains 0.27%. Over the week, the stock is down 15.83%, but still shows +164.1% over three months. Today's move takes it away from its short and medium-term averages: the price is now 19.20% below the 20-day MA and 32.67% below the 50-day MA.
It remains, however, 1% above the 200-day MA, the last level the stock is still holding. The support at €0.04 is less than 1% below the current price, and this is the level being tested this Thursday, with the RSI at 44 showing no oversold signal.
A capital increase of €5.3M finalized on October 12 to finance phase 2 in obesity
On October 12, Biophytis announced the completion of a capital increase of €5.3 million, intended to finance its phase 2 trial in obesity. The operation had already been presented on September 11, the day the stock had dropped 18.5%. In late August, the company reported cash reserves of €3M and a reduced debt of more than 30%, with financial visibility until the first quarter of 2027. This new fundraising thus extends this financing timeline.
