Abivax closes $920M public offering, extends runway to Q4 2029
Abivax SA has successfully closed its upsized public offering of 7,360,000 ADSs, generating $920 million in gross proceeds. The company projects the net proceeds will extend its financial runway into the fourth quarter of 2029, supporting the commercialization of obefazimod and ongoing R&D.
*this image is generated using AI for illustrative purposes only.
Abivax SA (NASDAQ: ABVX) has closed its previously announced upsized public offering, generating aggregate gross proceeds of approximately $920.0 million (€807.4 million). The offering consisted of 7,360,000 American Depositary Shares (ADSs), representing the full exercise of the underwriters' option to purchase an additional 960,000 ADSs. The estimated net proceeds to the company are approximately $874.1 million (€767.1 million). The company intends to use these funds to finance the potential commercialization of its lead drug candidate, obefazimod, in the United States, clinical research and development expenses related to ulcerative colitis and Crohn’s disease, and for general corporate purposes.
With the addition of the net proceeds from this offering to its existing cash and cash equivalents, Abivax believes it now has the financial resources to fund its operations into the fourth quarter of 2029. This extends the company's previous cash runway, which was projected into the second quarter of 2029 prior to the closing of this offering. As of March 31, 2026, the company reported holding cash, cash equivalents, and short-term investments of €491.6 million.
The offering was made pursuant to an automatic shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission. The Ordinary Shares issued in connection with the offering were admitted to trading on Euronext Paris on July 6, 2026. Leerink Partners acted as the stabilizing agent and reported that no stabilization activities were carried out, with the stabilization period now closed.
| Use of Proceeds | Description |
|---|---|
| Commercialization | Expenses relating to potential commercialization of obefazimod in the United States |
| Research and Development | Clinical research and development expenses, primarily related to ulcerative colitis and Crohn’s disease |
| General Corporate Purposes | Remainder of funds for general corporate purposes |
Leerink Partners, Morgan Stanley, Piper Sandler, and Guggenheim Securities acted as joint bookrunning managers for the offering. LifeSci Capital acted as a passive bookrunning manager, and Van Lanschot Kempen acted as lead manager.
What specific commercialization milestones does Abivax plan to achieve with the $874.1 million in net proceeds?
How will the extended cash runway into Q4 2029 influence Abivax's strategic priorities for obefazimod?
What are the anticipated regulatory timelines for obefazimod's approval in the U.S. for ulcerative colitis and Crohn’s disease?
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