Brief: Abivax Sees Sufficient Funds To Finance Operations Into Q4 2025

Abivax SA

02/04/2024 07:42

April 2 (Reuters) - Abivax SA  ABVX.PA :
    * RAISED EUR 500M IN 2023, INCLUDING A EUR 130M CAPITAL
INCREASE,
TWO STRUCTURED DEBT FINANCING TRANSACTIONS AGGREGATING EUR 150M
AND EUR 223.3M INITIAL PUBLIC OFFERING ON NASDAQ GLOBAL MARKET
    * SEES SUFFICIENT FUNDS TO FINANCE OPERATIONS INTO Q4 2025,
INCLUDING THROUGH ANNOUNCEMENT OF TOP-LINE DATA FROM PHASE 3
ABTECT INDUCTION TRIALS OF OBEFAZIMOD IN ULCERATIVE COLITIS (UC)
    * FY OPERATING LOSS INCREASED BY EUR 62.6M TO EUR -127.4M
COMPARED
TO EUR -64.8M AS OF DECEMBER 31, 2022
    * CASH POSITION (INCLUDING OTHER FINANCIAL ASSETS OF EUR
9.0M) AT
END OF 2023 WAS EUR 261.0M, COMPARED TO EUR 27.0M AT END OF 2022
    * ABIVAX EXPECTS TO BE ABLE TO FINANCE ITS OPERATING CASH
FLOW
REQUIREMENTS INTO Q4 2025
    * EXPECTS MILESTONE IN Q3 2024: NEW OBEFAZIMOD UC EXTENSION
TRIAL
READ-OUT AFTER ONE AND TWO YEARS OF CONTINUED TREATMENT WITH
REDUCED DOSE OF 25 MG

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