Abivax SA Sponsored ADR (ABVX) has released an update.
Abivax SA reports a challenging first half of 2024, with an increased operating loss of EUR 42.7M and a cash balance of EUR 222M as of June 30, 2024, ensuring operations into Q4 2025. Research and development costs have surged, primarily due to advanced Phase 3 clinical trials for their lead drug, obefazimod, in Ulcerative Colitis. Despite financial losses, the company has managed to secure financing through structured debt transactions, with expectations to sustain its cash flow requirements into late 2025.
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