Published 9 hours ago • loading... • Updated 4 hours ago

Biotech takeover target Abivax sinks over 30% after bowel disease drug trial update

Shares in French biotech Abivax tumbled more than 30% on Tuesday after reporting phase 3 data for its ulcerative colitis drug, obefazimod, which showed strong efficacy but revealed cancer cases among patients.
Data from the 44-week ABTECT trial revealed obefazimod achieved a 40% improvement in clinical remission rates compared to placebo, with Abivax reporting the drug met all key secondary endpoints and was "generally well tolerated."
Leerink Partners analysts called the remission rates a "best-case" outcome, while Citizens JMP Securities analyst Jason Butler said efficacy exceeded his expectations; Jefferies analysts labeled the cancer cases an "overhang" that could weigh on the stock.
Defending the safety profile, Abivax CEO Marc de Garidel maintains the cancer cases were unrelated to the treatment, even as the company remains a potential takeover target with a rumoured $17.5 billion bid from Eli Lilly.
Future milestones include filing obefazimod for approval by year-end, while the company explores the multi-billion-dollar Irritable Bowel Syndrome market and expects topline results from a Crohn's disease trial in mid-year 2027.

Insights by Ground AI

13 Articles

Why Is Abivax Stock Sinking Tuesday? - Abivax (NASDAQ:ABVX)

Abivax shares plunge more than 35% as cancer cases reported in a Phase 3 trial overshadow strong efficacy results for ulcerative colitis drug.

4 hours ago·New York, United States

Read Full Article

Pharmaphorum

Center

Abivax slides on phase 3 data in ulcerative colitis

Shares in Abivax have tumbled after it announced phase 3 data with ulcerative colitis drug obefazimod that included several cases of cancer.

6 hours ago

Read Full Article

Reuters

Center

Abivax shares sink after key trial results for inflammatory bowel drug

Abivax shares tumbled on Tuesday after the French biotech reported late-stage data for its experimental inflammatory bowel drug, with investors focusing on safety concerns even as the treatment showed strong efficacy.

9 hours ago·New York, United States

Read Full Article