Abivax dips after launching $600 mln share offering

Abivax SA

30/06/2026 22:10

** U.S.-listed shares of French biotech firm Abivax ABVX.O down 1% post-market to $132 as co looks to raise equity
** Co launches $600 mln offering of American Depositary Shares (ADSs)
** ABVX's U.S.-listed shares jumped 38.6% to close at $133.26 on Tues after its inflammatory bowel drug, obefazimod, showed it helped harder-to-treat patient groups achieve remission
** Co intends to use net offering proceeds for expenses relating to potential commercialization of lead candidate, obefazimod, in the U.S., clinical R&D expenses, primarily related to ulcerative colitis and Crohn’s disease, among other purposes
** Leerink, Morgan Stanley, Piper Sandler and Guggenheim joint bookrunners, along with LifeSci Capital
** On June 2, ABVX shares plunged 44% to $72.50 after co published its first late-stage trial data, as investors focused on cancer cases reported in patients taking the higher dose, although investigators considered the cases unrelated to treatment

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))