Abivax Secures $920M in Upsized Offering After Underwriters Fully Exercise Option
ABVX has more than doubled off its 52-week low of $7.41 on elevated volume (2.5× avg).
Summary
Abivax announced the full exercise of the underwriters' option to purchase additional ADSs, bringing the total gross proceeds from its public offering to $920 million. This finalizes a significant capital raise that initially launched at $600 million and was subsequently upsized to $800 million. The substantial funding provides critical capital for the potential commercialization of its lead drug candidate, obefazimod, in the U.S., and supports ongoing clinical research and development for ulcerative colitis and Crohn's disease. This follows a series of highly positive Phase 3 clinical trial results for obefazimod in ulcerative colitis, strengthening the company's financial position for its pipeline advancement. The closing of the offering is expected on July 6, 2026.
At the time of this announcement, ABVX was trading at $133.43 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $10.5B. The 52-week trading range was $7.41 to $148.83. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.