Abivax Shares Surge 34% After Positive Drug Data Release

Shares of French biotech company Abivax increased by 34% to 111.7 euros following the release of new data on its lead drug, obefazimod, for ulcerative colitis. This recovery comes after a significant drop of 44% on June 2 due to concerns over cancer cases among patients in a clinical trial.

The latest data indicated that the malignancies observed were in line with typical rates for ulcerative colitis patients. Additionally, over 37% of patients who initially did not respond to treatment achieved clinical remission after 10 months with a 50 mg dose.

The trial, a maintenance study, assessed remission rates over 44 weeks. CEO Marc de Garidel stated that the updated safety data strengthens confidence in obefazimod's long-term safety profile.

Abivax is on track to submit its new drug application to the US Food and Drug Administration in the fourth quarter of 2026, with a potential launch in 2027.