Abivax Raises $747.5m through ADS Offering in US

Abivax successfully completed a public offering in the US, raising $747.5m through the sale of 11.68 million American Depositary Shares. The offering included the exercise of the over-allotment option, with estimated net proceeds of $700.3m. The funds will support operations through Q4 2027, including a marketing authorization application for its ulcerative colitis treatment, pending favorable Phase 3 results. The ADS are listed on Nasdaq under the symbol ABVX.

Title: Abivax Secures $747.5 Million in Public Offering

Abivax (NASDAQ/Euronext: ABVX), a clinical-stage biotechnology company, has successfully closed its public offering of 11,679,400 American Depositary Shares (ADSs), including the full exercise of the underwriters' option. The offering generated gross proceeds of $747.5 million (€637.5 million), with estimated net proceeds of $700.3 million (€597.2 million) after deducting costs. The company expects these proceeds, combined with existing cash, will extend its operational runway into Q4 2027, providing 12 months of cash following the planned NDA submission for Ulcerative Colitis, contingent on positive Phase 3 maintenance trial results [1].

The offering was managed by Leerink Partners, Piper Sandler & Co., and Guggenheim Securities as joint bookrunners. Abivax secured $747.5M through public offering, extending cash runway into Q4 2027 through planned NDA submission for Ulcerative Colitis treatment. Abivax has successfully closed an oversubscribed public offering of 11,679,400 American Depositary Shares, generating $747.5 million ( €637.5 million ) in gross proceeds. After deducting expenses, the net proceeds of approximately $700.3 million ( €597.2 million ) significantly strengthen the company's financial position. This substantial capital infusion extends Abivax's operational runway into Q4 2027, providing crucial financial stability through its planned New Drug Application (NDA) submission for its Ulcerative Colitis treatment. The company now has approximately 12 months of expected cash runway following this planned submission, assuming positive Phase 3 maintenance trial results. The offering included the full exercise of the underwriters' option to purchase additional ADSs, indicating strong investor demand and confidence in Abivax's clinical pipeline focused on chronic inflammatory diseases. The impressive size of this capital raise significantly de-risks the company's near-term financing needs during this critical clinical development period. With ADSs listed on Nasdaq and ordinary shares on Euronext Paris, Abivax has effectively leveraged both European and US capital markets. The offering was managed by several prominent investment banks including Leerink Partners, Piper Sandler & Co., and Guggenheim Securities as joint bookrunning managers, reinforcing the institutional backing behind this financing [1].

References:
[1] https://www.stocktitan.net/news/ABVX/abivax-announces-closing-of-747-5-million-public-62yg8ja2tfxj.html