Abivax Secures $920 Million in Public Offering

Abivax, a biotechnology firm from Paris, announced the successful closing of its $920 million public offering. This involved 7,360,000 American Depositary Shares, each representing one ordinary share. The underwriters' option to purchase additional shares was fully exercised, contributing to the gross proceeds before expenses.

Net proceeds from the offering are anticipated to be around $874.1 million. Abivax plans to utilize these funds to finance operations until the fourth quarter of 2029. Shares are listed on Euronext Paris and Nasdaq under "ABVX".

Key joint bookrunning managers for the offering include Leerink Partners, Morgan Stanley, Piper Sandler, and Guggenheim Securities. Abivax's lead candidate, obefazimod, is undergoing Phase 3 trials for ulcerative colitis treatment.