Paris, December 22 – Abivax (+12.60%, to 112.60 euros) recorded the strongest increase on the SBF 120 index today. This surge, echoing a similar event last week, is fueled by press reports suggesting a potential acquisition by the American pharmaceutical giant Eli Lilly.
Eli Lilly’s Interest in Abivax Confirmed by ‘La Lettre’
According to strategic information daily ‘La Lettre’, a delegation from Eli Lilly visited the French Treasury Directorate General earlier in December. The purpose of this contact was to initiate a preliminary review of a potential Abivax acquisition under France’s foreign investment control regulations.
This development follows a period of remarkable growth for Abivax. Last Thursday, the company announced its inclusion in the Nasdaq Biotechnology Index, effective before the opening of trading on Monday, December 22.
Didier Blondel, Abivax’s Chief Administrative and Financial Officer, commented on this achievement: “Our integration into the Nasdaq Biotech Index marks a major milestone for Abivax. It reflects the significant progress we have made as a company, particularly in advancing obefazimod through the successful ABTECT Phase 3 induction trials in ulcerative colitis, and highlights Abivax’s increasing visibility and recognition within the international biotechnology community.”
Abivax’s Phenomenal Year: A 1,500% Stock Surge
Since the beginning of the year, Abivax’s stock has skyrocketed by nearly 1,500%, rising from 6.76 euros on December 31 of last year to 107.60 euros at Friday’s close. This impressive rally is largely attributable to the trading session on July 23, when the share price leaped from 8.90 to 54.30 euros, an astounding increase of 510.11%.
This dramatic rise was triggered by the clinical-stage biotechnology company’s announcement of positive results from two Phase 3 trials evaluating Obefazimod for the treatment of moderately to severely active ulcerative colitis. The 50mg dose of Obefazimod, administered once daily, demonstrated a highly significant clinical remission rate of 16.4% across both pooled studies, adjusted for placebo effect at Week 8. All key secondary endpoints were also met, and the product exhibited a favorable safety profile.
Strong Financial Position and Future Prospects
More recently, on December 15, Abivax released its third-quarter 2025 results, revealing a cash and cash equivalents position of 589.7 million euros as of September 30, 2025, providing financial autonomy until the fourth quarter of 2027.
Key Highlights of Abivax:
- Biopharmaceutical company founded in 2009, specializing in inflammatory bowel diseases through obefazimod, which leverages the body’s natural regulatory mechanisms, particularly microRNA miR-124.
- Minimal and non-significant revenue, as the company is in the clinical trial phase.
- Ambition: to provide a simple and safe (once-daily oral intake) treatment for chronic bowel diseases – ulcerative colitis and Crohn’s disease – with a three-stage deployment plan: launch of the anti-ulcerative colitis drug in the United States in 2027-28, subsequent global deployment in 2029-30, and then expansion of the drug to Crohn’s disease.
- Capital is distributed among Invus (10.76% of shares), Sofinnova (8.7%), Darwin Global Management (6.7%), and Deep Track Capital (5%). Sylvie Grégoire chairs the 8-member board, with Marc de Garidel serving as CEO.
Business Model Agility:
- Ability to attract investors and partners: initial support from Institut Curie and IGMM Montpellier, Sofinnova, and Truffle Capital, followed by listings on Euronext Paris in February 2023 and Nasdaq in October 2023.
- Financial creativity: work on convertible bonds and warrants.
- Establishment of a commercial team in the United States, the primary future market for obefazimod.
Innovation at the Core:
- Portfolio of over 20 patents developed under license from Institut Curie, CNRS, and IGMM Montpellier.
- Expanding chemical compound library through research based on obefazimod’s mechanical concept, focusing on evaluating drugs combinable with it, such as etrasimod, for combination therapies.
- Public support through research tax credits.
- Secured financial needs until the end of 2027 after a rapid capital increase on Nasdaq, raising 597 million euros by the end of July, which, combined with 60.9 million euros in cash at the end of June, provides visibility until Q4 2027.
Challenges Ahead:
- The company is not yet profitable, listed on Euronext and Nasdaq, and entered the SBF 120 in September.
- Extreme sensitivity to the success of clinical trials, which is currently at an all-time high valuation.
- By the end of the year: announcement of a drug candidate for combination with obefazimod.
- In the second half of 2026:
- Ulcerative colitis: results of the latest therapeutic trials, followed by submission of a marketing authorization application for obefazimod to the US FDA if positive.
- Advances in Phase 2 trials for Crohn’s disease.
- Anticipation of continued losses for the coming years, following a net loss increase of 23% to 100.8 million euros in the first half.
