Abivax (ABVX) stock skyrocketed on Wednesday after the biotechnology company posted results from its Phase 3 ABTECT-1 and ABTECT-2 clinical trials of Obefazimod. This is a first-in-class miR-124 enhancer to treat adult patients with moderately to severely active ulcerative colitis. That’s a chronic inflammatory bowel disease that mostly affects the large intestine, causing inflammation and ulcers.
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The big news here is that both of these clinical trials produced topline results that met their primary endpoints. This includes complete remission at Week 8 on the 50 mg once-daily dose in both trials. The trials also met all key secondary efficacy endpoints.
Abivax is already taking the next steps to have Obefazimod approved by the U.S. Food and Drug Administration (FDA). This means the company will file a New Drug Application in the second half of 2026.
Abivax Stock Movement Today
Abivax stock was up 492.8% in pre-market trading on Wednesday, following a 1.38% drop yesterday. Investors will note the shares were up 36.61% year-to-date but down 15.61% over the past 12 months. Today’s rally came with heavy trading, as some 5 million shares changed hands, compared to a three-month daily average of about 426,000 units.
Is Abivax Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Abivax is Strong Buy, based on six Buy ratings over the past three months. With that comes an average ABVX price target of $38.83, representing a potential 288.3% upside for the shares.
