PARIS: Clinical-stage biotech Biophytis SA (Euronext Growth: ALBPS) reported significantly reduced losses for 2024 and outlined ambitious clinical plans for obesity and sarcopenia treatments, while flagging a critical funding gap threatening its operations beyond Q3 2025.
The company’s net loss shrank to €10.4 million in 2024, down sharply from €17.0 million in 2023, driven by a 62% reduction in R&D spending (€3.4 million vs. €8.8 million). Operating losses fell to €8.5 million from €14.3 million. However, cash reserves plummeted to just €78,000 at year-end (vs. €5.6 million in 2023), despite €7.1 million raised through financing deals in early 2025.
Key Developments & Strategy:
- Clinical Pipeline Acceleration:
- Plans to initiate a Phase 2 obesity trial (OBA program) evaluating lead drug BIO101 combined with GLP-1 RAs in the US, Brazil, and Europe.
- Aims to launch the world’s first Phase 3 sarcopenia study (SARA program) across Europe and Asia. BIO101 demonstrated improved muscle function in Phase 2, notably in high-risk sarcopenic obesity patients.
- Funding Uncertainty: Auditors issued a “disclaimer of opinion” on 2024 accounts due to “material uncertainty” over Biophytis’ ability to operate beyond September 2025. The company seeks strategic partnerships in Asia to fund Phase 3 sarcopenia development.
- Partnership Progress: Signed a licensing deal with Brazil’s Blanver for Latin America and is in exclusive talks with a Chinese pharma firm for BIO101 co-development.
CEO Stanislas Veillet called 2024 “pivotal,” citing leadership in sarcopenia R&D and partnership momentum. The company’s shares resumed trading on Euronext Growth Paris today.
Biophytis prioritizes securing near-term funding, advancing obesity/sarcopenia trials, and integrating AI into its longevity drug-discovery platform. The firm emphasized its going-concern warning reflects auditor standards and not accounting irregularities.