Abivax launches $600M public offering of American Depositary Shares

1 min read Updated on 01 Jul 2026, 04:06 AM

Reviewed by

Riya DScanX News Team

AI Summary

Abivax SA launched a $600M public offering of American Depositary Shares to fund obefazimod commercialization and R&D. The offering includes a 15% greenshoe option for underwriters, with trading on Euronext expected to be suspended on July 1, 2026.

*this image is generated using AI for illustrative purposes only.

Abivax SA (NASDAQ: ABVX) announced the launch of an underwritten public offering of approximately $600 million of its American Depositary Shares (ADSs) to fund the commercialization of its lead drug candidate and clinical research. The Offering consists of ADSs representing one ordinary share each, with a nominal value of €0.01 per share, and is registered under the U.S. Securities Act of 1933. Abivax expects to grant underwriters an option to purchase up to an additional 15% of the total ADSs offered.

The ADSs are being issued through a capital increase without shareholders’ preferential subscription rights, authorized by the 18th and 27th resolutions of the Company’s combined general meeting held on May 11, 2026. The final number of ADSs and the offering price in U.S. dollars will be determined following a book-building process. The offering price will not be less than the weighted average share price on Euronext over a period of 3 to 90 consecutive trading days, potentially reduced by a maximum discount of 10%.

Trading of the Company’s Ordinary Shares on Euronext is expected to be suspended on July 1, 2026, until the opening of trading of the ADSs on The Nasdaq Global Market at approximately 9:30 a.m. New York time the same day. The Ordinary Shares underlying the ADSs will be admitted to trading on Euronext under the existing ISIN code FR0012333284.

Abivax intends to allocate the net proceeds from the Offering to three primary areas. The table below details the anticipated use of funds:

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 are acting as joint bookrunning managers, while LifeSci Capital is acting as a bookrunning manager and Van Lanschot Kempen as a lead manager. An automatic shelf registration statement on Form F-3 was filed with the Securities and Exchange Commission on July 23, 2025, and amended on June 30, 2026. The Offering is not subject to a prospectus requiring approval of the French Financial Markets Authority (AMF).

What specific commercialization milestones does Abivax aim to achieve with the $600 million raised for obefazimod in the U.S.?

How will the additional funds allocated to R&D accelerate clinical trials for ulcerative colitis and Crohn’s disease?

What impact will the issuance of ADSs without shareholders’ preferential subscription rights have on existing shareholder sentiment?

Rating and Price Action

The research note reinforces a positive stance on Abivax shares. The new price target of $148 represents an increase over the previous target of $140.