Abivax: share price rises after strategic update

(CercleFinance.com) - Abivax is advancing on the Paris stock exchange on Monday, after providing an update on its strategic outlook for 2024, as well as on the main milestones to be expected over the next 12 months.


The company, one of the "top 5" biotech companies to have raised the most capital last year, says it is "on track" to execute its roadmap presented in September 2023.


The biotech says it is already preparing for the commercialization of obefazimod, its lead project, which will be the subject of first phase 3 results in ulcerative colitis (UC) in the first quarter of 2025.

Meanwhile, Abivax says it has received Investigational New Drug (IND) status for a phase 2 study of obefazimod in Crohn's disease (CD).

In its press release, the company stresses that its operations are fully funded until the planned announcement of the results of the two studies, in both UC and CD.

On the R&D front, work is continuing on other potential drug candidates to be selected from Abivax's
library of compounds.

In this sense, the first compound, the successor to obefazimod, should be selected in the third quarter of 2024, in order to further strengthen the product portfolio, concludes Abivax.

Listed on the Paris Bourse, Abivax shares - which also entered the Nasdaq in October 2023 - were up almost 2% on Monday morning following all these announcements.

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