Brief: Abivax Provides Business And Operational Update

Abivax SA

07/09/2023 07:11

Sept 7 (Reuters) - Abivax SA  ABVX.PA :
    * EQS-NEWS: ABIVAX PROVIDES BUSINESS AND OPERATIONAL UPDATE
    * ABTECT PHASE 3 GLOBAL CLINICAL TRIAL ENROLLMENT
PROGRESSING AS
PLANNED; INDUCTION AND MAINTENANCE DATA READOUTS EXPECTED IN Q1
2025 AND Q1 2026, RESPECTIVELY
    * HAS EUR 118M CASH ON HAND (AS OF AUGUST 2023, UNAUDITED)
AND
EXPECTS ITS CURRENT CASH RUNWAY TO FINANCE ABIVAX'S OPERATIONS
THROUGH Q2 2024
    * MULTI-PRONGED STRATEGY TO SUPPORT FINANCIAL STABILITY
THROUGH Q2
2024 (WITH POSSIBLE EXTENSION TO Q4 2024 WITH DRAWDOWN OF ALL
DEBT FACILITIES) WITH CATALYSTS EXPECTED INTO 2026
    * ABIVAX COULD EXTEND ITS CASH RUNWAY INTO Q4 2024 WITH
ADDITIONAL
FINANCING
    * ABIVAX U.S. OFFICE CURRENTLY PLANNED TO OPEN IN GREATER
BOSTON
AREA IN Q4 2023
    * ABTECT TOP-LINE INDUCTION DATA READOUT IS EXPECTED IN Q1
2025
    * ESTABLISHMENT OF AN ABIVAX U.S. PRESENCE IS CURRENTLY IN
PROGRESS
    * ONE OF TWO PATENTS FOR OBEFAZIMOD IN U.S. WILL BE SELECTED
FOR
PATENT TERM EXTENSION (PTE) FROM 2035 TO 2039
    * COMPOSITION OF MATTER PATENT OR METHOD OF USE PATENT (BOTH
GRANTED) WOULD EXTEND PRODUCT PATENT PROTECTION UNTIL 2035 OR
USE PATENT UNTIL 2040 IN EU

Source text for Eikon:  ID:nEQ5Cfsv8a 
Further company coverage:  ABVX.PA 

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