Abivax shares fall after rival drug data, trader says

Abivax SA

Mon 12:47

** Shares in Abivax ABVX.PA are down around 3%, paring gains after falling as much as 9.9%
** A trader points to rival Gilead's GILD.O pill succeeding in mid-stage bowel disease trial
** Gilead said its experimental once-daily pill emvistegrast reduced symptoms of moderate to severe ulcerative colitis, a chronic bowel illness, in more patients than placebo
** Abivax's obefazimod met the main goal in a late-stage trial in June, and the company said in July it remained on track to submit a New Drug Application to the US Food and Drug Administration by year-end
** Including the session's fall, the stock has dropped by 37% YTD
     

 (Reporting by Lucie Barbier in Gdansk)
 ((lucie.barbier@thomsonreuters.com))