Abivax SA Sponsored ADR (ABVX) has released an update.
Abivax SA has secured over EUR 500M in funding in 2023, ensuring financial stability for its operations until Q4 2025, which includes the development of obefazimod for ulcerative colitis. The company experienced significant growth, with an increase in operating losses due to ramped-up research and development efforts, particularly in its clinical programs for ulcerative colitis and Crohn’s disease. Moreover, Abivax has expanded its workforce and infrastructure in the U.S. and Europe, positioning itself for future sales and commercialization efforts.
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