Abivax Closes $800 Million ADS Offering and Nears $11 Billion Valuation

Overview

• Abivax completed an expanded ADS sale on July 1, selling 6.4 million American Depositary Shares at $125 each and raising $800 million after strong demand.
• The company granted underwriters a 15% overallotment option of 960,000 ADSs that could lift total proceeds to about $920 million if exercised.
• Abivax said the funds will support potential U.S. commercialization of obefazimod and clinical development in ulcerative colitis and Crohn’s disease through Q2 2029.
• Positive Phase 3 efficacy data for obefazimod have been clouded by seven malignancy reports in patients on the 50 mg dose, which investigators have so far judged unrelated to treatment and were partly reassured by additional maintenance data released before the offering.
• The financing pushed Abivax’s market value toward $11 billion, eased near‑term pressure to sell the company and briefly prompted a trading halt on Euronext Paris to confirm allocations and pricing.