Abivax Launches $400 Million Public Offering

Paris-based biotechnology company, Abivax SA, has announced the launch of a substantial public offering valued at approximately $400 million, or €340 million. The offering includes American Depositary Shares (ADSs), each representing one ordinary share, which will be available in the U.S. market. This initiative aims to support the company’s clinical developments and bolster its financial footing.

The company's stock, recognized on Euronext Paris and Nasdaq Global Market under the ticker "ABVX", will see the participation of several financial institutions, including Leerink Partners and Piper Sandler, as joint bookrunning managers. A specified 30-day option will allow underwriters to purchase additional ADSs up to 15% of the offered sum.

Proceeds are earmarked with 23% aimed at developing therapies for Ulcerative Colitis, 5% for Crohn's Disease, and the remaining 72% for general corporate purposes. Amidst this financial maneuver, market conditions remain a contingency for the offering's completion and its definitive size.