France-based Abivax SA (Euronext Paris: ABVX / Nasdaq: ABVX) announced the launch of an underwritten public offering of approximately USD 600 million of American Depositary Shares, with proceeds earmarked primarily for US commercialization preparations and continued clinical development of its lead asset obefazimod (ABX464). The scale of the raise reflects the company's positioning ahead of a potential NDA submission following positive Phase III maintenance trial data that supported the plans for an NDA submission.
The offering comprises ADSs, each representing one ordinary share, with Abivax granting underwriters a 15% overallotment option exercisable through the day of initial settlement. Leerink Partners, Morgan Stanley, Piper Sandler, and Guggenheim Securities are acting as joint bookrunning managers; LifeSci Capital is serving as bookrunning manager and Van Lanschot Kempen as lead manager.
Abivax intends to direct proceeds toward US pre-commercialization expenses for obefazimod, clinical research and development costs primarily for ulcerative colitis and Crohn's disease programs, and general corporate purposes.
This offering follows a USD 45 million ADS transaction in May 2026. As of March 31, 2026, Abivax held EUR 491.6 million in cash, cash equivalents, and short-term investments, with a projected runway into Q4 2027. The current USD 600 million raise would substantially extend that runway and fund the commercial infrastructure needed for a potential US launch.
Company overview and pipeline
Abivax is focused on development of drugs capable of modulating the immune response in patients with chronic inflammatory diseases. Its lead asset, obefazimod (ABX464), is an oral, once-daily small molecule that selectively modulates post-transcriptional regulation of inflammatory gene expression, reducing pro-inflammatory cytokine production. The compound is the subject of the Phase III ABTECT program evaluating its use in moderately to severely active ulcerative colitis.