- Abivax’s shares were trading over 35% higher since its previous close on the stock exchange Euronext.
- New data on its lead drug for bowel disease, obefazimod, led to a jump in stock prices.
- Abivax said it is on track to submit its new drug application (NDA) to the US FDA for obefazimod in the fourth quarter of 2026.
Shares of French biotech firm Abivax jumped on Tuesday after the company put out fresh data on its lead drug for bowel disease. Abivax's shares were trading over 35% higher at €113.20 since its previous close on the stock exchange Euronext.
With the new data, the company clawed back its losses after the same trial earlier this month led to investors questioning the drug's future, CNBC reported. On June 2, a data set revealed there were cancer cases among patients taking the highest dose of Abivax's experimental medicine for ulcerative colitis (UC) - obefazimod.
Additional stage data released on June 29, Monday, showed that malignancies were in line with levels usually observed in UC patients.
The trial was a maintenance study that tested remission rates among patients with UC over 44 weeks. The update on Monday was the second, supplemental part of the Phase 3 study.
Abivax stated that over 37% of patients who did not respond initially to treatment, achieved clinical remission after they were treated with a 50 mg dose, after almost 10 months.
“These findings suggest that a meaningful proportion of patients who do not initially respond may still derive substantial benefit from longer treatment exposure,” Abivax claimed.
Abivax's CEO, Marc de Garidel, said in a release that the new data “further strengthens” the company's confidence in the long-term safety profile of obefazimod. “We believe this growing body of evidence positions obefazimod, if approved, to become a paradigm defining treatment option for patients living with ulcerative colitis,” he added.
The biotech firm said it is on track to submit its new drug application (NDA) to the US Food and Drug Administration for obefazimod in the final quarter of 2026.
Abivax had previously said that a 2027 launch is likely, but it is widely considered that the company may be acquired before then.
Abivax has been seen as a prime takeover target, CNBC reported, with rumours claiming that several Big Pharma companies are interested in acquiring the Paris-based biotech firm.
The company has grown to become a significant player with a market cap of about €8 billion after its shares soared nearly 1,700% last year.
As for obefazimod, the experimental drug has been described by analysts as a potential best-in-class treatment for UC. Abivax is also testing the medicine for Crohn's disease, with a trial expected in mid-2027.
