Biophytis announces receipt of Nasdaq Notice

Biophytis announced that it has received written notification (the “Notification Letter”) from the Nasdaq Stock Market LLC (“Nasdaq”) dated April 24, 2023, indicating that, based on the reported stockholders’ equity of (€1,911,000) of Biophytis as reported in its 20-F, the Company does not meet the minimum shareholders’ equity criteria of $2,500,000 in stockholders’ equity for continued listing (the “Nasdaq Letter”).

The Notification Letter has no immediate effect on the listing of the ADSs, and they will continue to trade on The Nasdaq Global Select Market under the symbol “BPTS”.

Under Nasdaq Listing Rule 5550(b)(1), Biophytis has 45 calendar days, or until June 8, 2023, to submit a plan to regain compliance. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from the date of the Nasdaq Letter to evidence compliance.

Biophytis intends to regain compliance within the applicable compliance period and is currently working on a plan including financial and scientific projections.

During this time, the Company’s ADSs will continue to be listed and trade on The Nasdaq Global Select Market and the Company’s business and operations are not affected by the receipt of the Notification Letter.